Winners And Losers Of Q4: Myriad Genetics (NASDAQ:MYGN) Vs The Rest Of The Therapeutics Stocks
As the craze of earnings season draws to a close, here’s a look back at some of the most exciting (and some less so) results from Q4. Today, we are looking at therapeutics stocks, starting with Myriad Genetics (NASDAQ:MYGN).
Over the next few years, therapeutic companies, which develop a wide variety of treatments for diseases and disorders, face strong tailwinds from advancements in precision medicine (including the use of AI to improve hit rates) and growing demand for treatments targeting rare diseases. However, headwinds such as rising scrutiny over drug pricing, regulatory unknowns, and competition from larger, more resourced pharmaceutical companies could weigh on growth.
The 10 therapeutics stocks we track reported a satisfactory Q4. As a group, revenues beat analysts’ consensus estimates by 2.6%.
Thankfully, share prices of the companies have been resilient as they are up 5.2% on average since the latest earnings results.
Myriad Genetics (NASDAQ:MYGN)
Founded in 1991, Myriad Genetics (NASDAQ:MYGN) provides genetic testing and precision medicine solutions, with a focus on identifying hereditary risks for cancer, guiding treatment decisions, and supporting mental health diagnosis.
Myriad Genetics reported revenues of $210.6 million, up 7.1% year on year. This print fell short of analysts’ expectations by 0.6%. Overall, it was a mixed quarter for the company with a solid beat of analysts’ full-year EPS guidance estimates.
“There is a lot for Myriad Genetics to be proud of in 2024. We generated 11% revenue growth over 2023, making this our second consecutive year of double-digit growth, and $40 million in adjusted EBITDA. This achievement is the result of the company's multi-year investment strategy along with our team’s hard work and focus on the needs of our patients and the healthcare providers who serve them,” said Paul J. Diaz, President and CEO, Myriad Genetics.
Myriad Genetics Total Revenue
Myriad Genetics delivered the weakest performance against analyst estimates of the whole group. The stock is down 30.1% since reporting and currently trades at $9.60.
Founded in 1997, BioMarin Pharmaceutical (NASDAQ:BMRN) is a biopharmaceutical company specializing in developing and commercializing innovative therapies for rare genetic disorders, with key products addressing disorders where the body can’t break down certain sugars (Morquio A syndrome) and certain proteins (phenylketonuria).
BioMarin Pharmaceutical reported revenues of $747.3 million, up 15.6% year on year, outperforming analysts’ expectations by 4.8%. The business had a stunning quarter with an impressive beat of analysts’ EPS estimates and a solid beat of analysts’ full-year EPS guidance estimates.
BioMarin Pharmaceutical Total Revenue
BioMarin Pharmaceutical achieved the highest full-year guidance raise among its peers. The market seems happy with the results as the stock is up 9.1% since reporting. It currently trades at $71.67.
Founded in 2010 and widely known for its COVID-19 vaccine, Moderna (NASDAQ:MRNA) is a biotechnology company focused on developing messenger RNA (mRNA) therapeutics and vaccines.
Moderna reported revenues of $966 million, down 65.6% year on year, in line with analysts’ expectations. It was a slower quarter as it posted full-year revenue guidance missing analysts’ expectations.
Moderna delivered the slowest revenue growth and weakest full-year guidance update in the group. Interestingly, the stock is up 15.5% since the results and currently trades at $36.91.
Best-known for its HIV and Hepatitis treatments, Gilead Sciences (NASDAQ:GILD) is a biopharmaceutical company that discovers, develops, and commercializes innovative medicines.
Gilead Sciences reported revenues of $7.57 billion, up 6.4% year on year. This number surpassed analysts’ expectations by 6.3%. Overall, it was a very strong quarter as it also logged an impressive beat of analysts’ full-year EPS guidance estimates and a solid beat of analysts’ EPS estimates.
Gilead Sciences delivered the biggest analyst estimates beat among its peers. The stock is up 22.3% since reporting and currently trades at $117.59.
Founded in 2013 as a spin-off from Abbott Laboratories (NYSE:ABT), AbbVie (NYSE:ABBV) is a biopharmaceutical company that develops and sells prescription medicines focused on areas like immunology (arthritis, for example), oncology (cancers), and neuroscience (depression, for example).
AbbVie reported revenues of $15.1 billion, up 5.6% year on year. This result beat analysts’ expectations by 1.9%. It was a strong quarter as it also produced an impressive beat of analysts’ constant currency revenue estimates and a narrow beat of analysts’ full-year EPS guidance estimates.
The stock is up 23% since reporting and currently trades at $216.
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