Urovant Sciences’ (NASDAQ:UROV) quiet period will expire on Tuesday, November 6th. Urovant Sciences had issued 10,000,000 shares in its initial public offering on September 27th. The total size of the offering was $140,000,000 based on an initial share price of $14.00. During the company’s quiet period, underwriters and any insiders involved in the IPO are prevented from issuing any research reports or earnings estimates for the company because of SEC regulations. Following the end of the company’s quiet period, the brokerages that served as underwriters will likely initiate research coverage on the company.
Several equities research analysts have issued reports on the company. Jefferies Financial Group started coverage on Urovant Sciences in a research note on Monday, October 22nd. They set a “buy” rating and a $19.00 price target for the company. Cowen started coverage on Urovant Sciences in a research note on Monday, October 22nd. They issued an “outperform” rating and a $25.00 target price for the company. Finally, JPMorgan Chase & Co. started coverage on Urovant Sciences in a research note on Monday, October 22nd. They issued an “overweight” rating and a $21.00 target price for the company.
NASDAQ UROV opened at $9.18 on Friday. Urovant Sciences has a 1-year low of $8.46 and a 1-year high of $14.32.
In related news, major shareholder Fund V. Lp Qvt bought 2,678,571 shares of the stock in a transaction dated Monday, October 1st. The stock was bought at an average price of $14.00 per share, with a total value of $37,499,994.00. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink.
About Urovant Sciences
Urovant Sciences Ltd., a clinical-stage biopharmaceutical company, focuses on developing and commercializing therapies for urologic conditions. It is developing vibegron, an oral, once-daily, small molecule beta-3 agonist that is in Phase III trials for the treatment of overactive bladder (OAB) and OAB in men with benign prostatic hyperplasia; and in Phase IIa clinical trials for irritable bowel syndrome-associated pain.
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