Myriad Genetics announces findings showing the GeneSight test may reduce hospitalizations in major depressive disorder patients.
Quiver AI Summary
Myriad Genetics, Inc. announced that a study published in the Journal of Clinical Psychopharmacology found that the GeneSight® Psychotropic Test significantly reduced psychiatric hospitalizations in patients with major depressive disorder. The study revealed a 39% decrease in psychiatric-related hospitalizations and identified that healthcare providers may be using genetic insights from the test to make more informed medication choices, reducing the trial-and-error approach. Dr. Dale Muzzey highlighted the importance of the GeneSight test in personalizing mental health care, while Dr. Crystal Nelson emphasized the relief and hope patients feel when they learn genetics could influence their treatment outcomes. The study examined over 21,000 patients and linked test results to healthcare utilization, although it did not include a control group for comparison. Myriad Genetics aims to improve patient care through precision medicine and molecular testing.
Potential Positives
- The publication of a study in the Journal of Clinical Psychopharmacology validating the effectiveness of the GeneSight® Psychotropic Test in reducing psychiatric hospitalizations adds credibility and showcases the company's commitment to improving mental health treatment.
- The study demonstrates a significant 39% reduction in psychiatric-related hospitalizations after using the GeneSight test, indicating its potential to enhance patient outcomes and reduce healthcare costs.
- Healthcare providers are increasingly utilizing the GeneSight test to inform treatment decisions, as highlighted by real-world data showing a shift in medication prescriptions in favor of those with no or moderate gene-drug interactions.
- The GeneSight Psychotropic Test is positioned as a category-leading pharmacogenomic test, potentially increasing market share and reinforcing the company’s leadership in precision medicine and molecular diagnostics.
Potential Negatives
- The study mentioned in the press release did not include a non-GeneSight control group, which raises questions about the validity of the claims regarding the effectiveness of the GeneSight test in reducing hospitalizations.
- The reliance on "forward-looking statements" may indicate uncertainty and potential risks that could impact the company's future performance, implying the need for caution from investors.
- The potential lack of comprehensive data regarding the GeneSight test's effectiveness may undermine stakeholders' confidence in the product and the company's claims.
FAQ
What is the GeneSight Psychotropic Test?
The GeneSight Psychotropic Test is a pharmacogenomic test that helps inform clinicians about how patients' genes impact medication response for psychiatric conditions.
How does GeneSight testing affect psychiatric hospitalizations?
The study found a 39% reduction in psychiatric-related hospitalizations after patients underwent GeneSight testing, suggesting improved medication prescribing.
How many patients were involved in the GeneSight study?
Nearly 21,000 patients with major depressive disorder participated in the study analyzing the impact of GeneSight testing on medication use.
What were the significant findings from the GeneSight study?
The study reported reduced psychiatric hospitalizations and interactions with medications after GeneSight testing, highlighting its potential benefits for patient care.
Where can I learn more about Myriad Genetics and GeneSight?
For more information, visit the GeneSight website at GeneSight.com and the Myriad Genetics site at www.myriad.com.
Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.
$MYGN Hedge Fund Activity
We have seen 113 institutional investors add shares of $MYGN stock to their portfolio, and 129 decrease their positions in their most recent quarter.
Here are some of the largest recent moves:
- GLENVIEW CAPITAL MANAGEMENT, LLC added 2,895,794 shares (+229.5%) to their portfolio in Q4 2024, for an estimated $39,701,335
- LOOMIS SAYLES & CO L P removed 2,189,601 shares (-100.0%) from their portfolio in Q4 2024, for an estimated $30,019,429
- CAMBER CAPITAL MANAGEMENT LP removed 850,000 shares (-21.5%) from their portfolio in Q4 2024, for an estimated $11,653,500
- MILLENNIUM MANAGEMENT LLC removed 831,315 shares (-16.1%) from their portfolio in Q4 2024, for an estimated $11,397,328
- STATE STREET CORP added 822,263 shares (+17.5%) to their portfolio in Q4 2024, for an estimated $11,273,225
- POINT72 ASSET MANAGEMENT, L.P. removed 715,107 shares (-67.2%) from their portfolio in Q4 2024, for an estimated $9,804,116
- WELLINGTON MANAGEMENT GROUP LLP removed 711,985 shares (-10.6%) from their portfolio in Q4 2024, for an estimated $9,761,314
To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard.
$MYGN Analyst Ratings
Wall Street analysts have issued reports on $MYGN in the last several months. We have seen 1 firms issue buy ratings on the stock, and 0 firms issue sell ratings.
Here are some recent analyst ratings:
- Piper Sandler issued a "Overweight" rating on 03/12/2025
To track analyst ratings and price targets for $MYGN, check out Quiver Quantitative's $MYGN forecast page.
$MYGN Price Targets
Multiple analysts have issued price targets for $MYGN recently. We have seen 2 analysts offer price targets for $MYGN in the last 6 months, with a median target of $16.75.
Here are some recent targets:
- An analyst from Piper Sandler set a target price of $12.5 on 03/12/2025
- Puneet Souda from Leerink Partners set a target price of $21.0 on 12/09/2024
Full Release
SALT LAKE CITY, April 21, 2025 (GLOBE NEWSWIRE) -- Myriad Genetics, Inc . (NASDAQ: MYGN), a leader in molecular diagnostics testing and precision medicine, today announced that the Journal of Clinical Psychopharmacology has published a study showing those with major depressive disorder had fewer psychiatric hospitalizations after taking the GeneSight ® Psychotropic Test.
“Millions of Americans face major depressive disorder each year, and the GeneSight test provides genetic insights that may help healthcare providers personalize the selection of mental health medications,” said Dale Muzzey, PhD, Chief Scientific Officer at Myriad Genetics. “This study found lower psychiatric-related hospitalizations following use of the GeneSight test, suggesting that GeneSight may help healthcare providers identify effective medications and reduce the trial-and-error prescribing process that can lead to increased healthcare resource utilization.”
The publication includes additional analysis of the study results first shared at the 2024 American Association of Psychiatric Pharmacists conference . The study, entitled "Real-World Impact of Pharmacogenomic Testing on Medication Use and Healthcare Resource Utilization in Patients with Major Depressive Disorder,” showed, following GeneSight testing:
- There was an almost 40% relative reduction in the proportion of patients who filled prescriptions with significant gene-drug interactions. We believe these data suggest that healthcare providers are using the GeneSight test to inform treatment decisions.
- A 39% relative reduction in psychiatric-related hospitalizations and a 29% relative reduction in hospitalizations for any reason were observed.
-
Patients who were switched to medications with no/moderate gene-drug interactions had a 44% relative reduction in psychiatric hospitalizations and a 34% relative reduction in hospitalizations for any reason.
“As a practicing psychiatrist, this study reinforces my decision to order the GeneSight test for my patients. Many patients don’t respond well to the first prescribed medication and the rate of positive medication response declines after that 1 ,” said Dr. Crystal Nelson, a psychiatrist in Newnan, GA. "My patients who suffer from major depressive disorder often share a renewed sense of hope after I tell them about and order the GeneSight test. Many of them share that they are relieved to learn that genetics may have been a reason why a medication failed them.”
_______________
1
American Journal of Psychiatry
. “Acute and longer-term outcomes in depressed outpatients requiring one or several treatment steps: a STAR*D report”
https://pubmed.ncbi.nlm.nih.gov/17074942/
About the Study
The study analyzed a dataset generated by linking more than a half million de-identified patients who received the GeneSight test to administrative insurance claims from a nationwide data warehouse in the United States. Nearly 21,000 patients with major depressive disorder met inclusion criteria to be included in the study. The study authors then evaluated this dataset with regard to medications prescribed before and after GeneSight testing, as well as healthcare resource utilization before and after GeneSight testing. The company believes that GeneSight testing contributed to the reduction in patients who filled prescriptions with significant gene-drug interactions and the reduction in hospitalizations, but the study did not include an analysis of a non-GeneSight control group to evaluate whether or to what extent GeneSight testing was the cause of these reductions.
About the GeneSight
®
Test
The GeneSight Psychotropic Test from Myriad Genetics is the category-leading pharmacogenomic (PGx) test for more than 60 medications commonly prescribed for depression, anxiety, ADHD, and other psychiatric conditions. The GeneSight test can help inform clinicians about how a patient’s genes may impact how they metabolize and/or respond to certain psychiatric medications. The GeneSight test supplements other information considered by a clinician as part of a comprehensive medical assessment. Learn more at
GeneSight.com
.
About Myriad Genetics
Myriad Genetics is a leading molecular diagnostics testing and precision medicine company dedicated to advancing health and well-being for all. Myriad Genetics develops and offers molecular tests that help assess the risk of developing disease or disease progression and guide treatment decisions across medical specialties where molecular insights can significantly improve patient care and lower healthcare costs. For more information, visit
www.myriad.com
.
Safe Harbor Statement
This press release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, including statements relating to the study's finding of lower psychiatric-related hospitalizations following the use of the GeneSight test, suggesting that GeneSight may help healthcare providers identify effective medications and reduce the trial-and-error prescribing process that can lead to increased healthcare resource utilization, as well as the company’s belief that the study’s data suggest that healthcare providers are using the GeneSight test to inform treatment decisions, and the company believes that GeneSight testing contributed to the reduction in patients who filled prescriptions with significant gene-drug interactions and the reduction in hospitalizations. These “forward-looking statements” are management’s expectations of future events as of the date hereof and are subject to known and unknown risks and uncertainties that could cause actual results, conditions, and events to differ materially and adversely from those anticipated. Such factors include those risks described in the company’s filings with the U.S. Securities and Exchange Commission, including the company’s Annual Report on Form 10-K filed on February 28, 2025, as well as any updates to those risk factors filed from time to time in the company’s Quarterly Reports on Form 10-Q or Current Reports on Form 8-K. Myriad is not under any obligation, and it expressly disclaims any obligation, to update or alter any forward-looking statements, whether as a result of new information, future events or otherwise except as required by law.
Investor Contact
Matt Scalo
(801) 584-3532
[email protected]
Media Contact
Kate Schraml
(224) 875-4493
[email protected]