MYGN Stock Might Rise on Collaboration With CancerCARE

Myriad Genetics, Inc. MYGN recently announced an agreement to enhance education and access to hereditary cancer testing for CancerCARE for Life members.Under the agreement, more than 1 million individuals within CancerCARE’s network will be able to assess their eligibility for the MyRisk test by taking the MyGeneHistory quiz. If they meet the criteria, they will be directed to a clinician who can order the MyRisk with RiskScore Hereditary Cancer Test on their behalf. The latest collaboration is aimed at bolstering the company’s Hereditary Cancer testing business. MYGN Stock’s Likely Trend Following the NewsMyriad Genetic’s shares lost 1.5% last Thursday. The company has been gaining synergies from its MyRisk Hereditary Cancer Test. In December 2024, the American Journal of Human Genetics named the MyRisk Hereditary Cancer Test with RiskScore study as one of the top 10 significant advances in genomic medicine. Moreover, MyRisk is expected to continue its strong growth from expanded guidelines and acceleration of EMR integrations. Accordingly, we expect the latest collaboration to boost the market sentiment toward MYGN stock.Myriad Genetics has a market capitalization of $1.13 billion. It has a long term EPS growth rate of 44% compared with the industry’s 20%. MYGN delivered a trailing four-quarter average earnings surprise of 247.73%.  About MYGN’s MyRisk Hereditary Cancer Test With RiskScoreMyRisk with RiskScore is the first and industry-leading hereditary cancer test and polygenic risk prediction test for all ancestries. It evaluates 48 genes associated with hereditary cancer risk to identify genetic changes associated with increased cancer risk for 11 different cancers. When combined with family history and other clinical factors such as breast density, MyRisk with RiskScore provides eligible patients with a five-year and remaining lifetime breast cancer risk assessment.About CancerCARECancerCARE and CancerCARE for Life comprise one of the nation’s largest prevention, early detection and cancer management programs. CancerCARE for Life’s unique approach blends targeted education and awareness with personalized oncology-trained nurses and physicians to deliver an exceptional member experience. CancerCARE has expertise in clinical trials, Center of Excellence access, pre-guideline care, NCCN Guideline care, and gene and cellular therapy, which helps ensure the best outcome for members.More on the NewsMyriad Genetic’s Breast Cancer Risk Assessment Program features the MyRisk with RiskScore Hereditary Cancer Test. It also includes MyGeneHistory, an online screening tool that helps assess if a patient meets medical guidelines for hereditary cancer testing. The program also includes patient education about genetic testing and a guide on how to collect family history of certain cancers.  Image Source: Zacks Investment ResearchIndustry Prospects Favoring MYGNPer an Allied Market Research report, the global hereditary cancer testing market was valued at $3.5 billion in 2021 and is expected to grow at a compound annual rate of 11.6% through 2031. The increasing geriatric population, a surge in the incidence of cancer worldwide and an increase in government expenditures on healthcare are some of the main factors fueling the market’s growth.Another Development by Myriad GeneticsIn January, Myriad Genetics entered into an agreement with Hannah Storm, a nationally renowned sports broadcaster who recently revealed her battle with breast cancer. Under the agreement, Storm will act as an ambassador for the Myriad Genetics Breast Cancer Risk Assessment Program, which features the MyRisk with RiskScore Hereditary Cancer test.MYGN Stock Price PerformanceIn the past year, MYGN’s shares have lost 46% compared with the industry’s decline of 11.7%.MYGN’s Zacks Rank and Key PicksMyriad Genetics currently carries a Zacks Rank #4 (Sell).Some better-ranked stocks in the broader medical space are Omnicell OMCL,  ResMed RMD and Veracyte VCYT.Omnicell, carrying a Zacks Rank #2 (Buy) at present, has an estimated earnings growth rate of 72.7% for fourth-quarter 2024. You can see the complete list of today’s Zacks #1 Rank stocks here.Omnicell's earnings surpassed estimates in each of the trailing four quarters, delivering an average surprise of 121.74%. OMCL’s shares have risen 26.4% against the industry’s 15.7% decline in the past year. ResMed, carrying a Zacks Rank #2 (Buy) at present, has an estimated growth rate of 21.1% for 2025. RMD’s earnings surpassed estimates in each of the trailing four quarters, delivering an average surprise of 6.41%. Its shares have risen 34.1% compared with the industry’s 7.7% growth in the past year.Veracyte, carrying a Zacks Rank #3 (Hold) at present, has an estimated earnings growth rate of 65.8% for 2025. VCYT’s earnings surpassed estimates in each of the trailing four quarters, delivering an average surprise of 520.58%. Veracyte’s shares have risen 49.2% in the past year compared with the industry’s 5.5% growth.Only $1 to See All Zacks' Buys and SellsWe're not kidding.Several years ago, we shocked our members by offering them 30-day access to all our picks for the total sum of only $1. No obligation to spend another cent.Thousands have taken advantage of this opportunity. Thousands did not - they thought there must be a catch. Yes, we do have a reason. We want you to get acquainted with our portfolio services like Surprise Trader, Stocks Under $10, Technology Innovators,and more, that closed 256 positions with double- and triple-digit gains in 2024 alone.See Stocks Now >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Omnicell, Inc. (OMCL): Free Stock Analysis Report ResMed Inc. (RMD): Free Stock Analysis Report Myriad Genetics, Inc. (MYGN): Free Stock Analysis Report Veracyte, Inc. (VCYT): Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks