ValuEngine upgraded shares of Myovant Sciences (NYSE:MYOV) from a hold rating to a buy rating in a report issued on Thursday, ValuEngine reports.
Several other brokerages also recently issued reports on MYOV. Citigroup began coverage on Myovant Sciences in a report on Thursday, May 30th. They set a buy rating and a $25.00 price target for the company. Zacks Investment Research downgraded Myovant Sciences from a buy rating to a hold rating in a report on Wednesday. Finally, Evercore ISI assumed coverage on Myovant Sciences in a research note on Thursday, April 11th. They issued an outperform rating for the company. Two equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. The company presently has a consensus rating of Buy and an average price target of $26.83.
Myovant Sciences stock traded down $0.15 during trading on Thursday, hitting $6.90. 255,081 shares of the company were exchanged, compared to its average volume of 264,092. The firm has a 50 day simple moving average of $8.52. Myovant Sciences has a 52 week low of $6.60 and a 52 week high of $27.45. The company has a current ratio of 2.32, a quick ratio of 2.32 and a debt-to-equity ratio of 21.51.
Myovant Sciences (NYSE:MYOV) last announced its quarterly earnings results on Friday, May 24th. The company reported ($1.07) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($1.02) by ($0.05). On average, analysts predict that Myovant Sciences will post -3.65 EPS for the current year.
In other Myovant Sciences news, Director Kathleen Sebelius acquired 5,000 shares of Myovant Sciences stock in a transaction on Wednesday, June 12th. The stock was purchased at an average price of $8.96 per share, for a total transaction of $44,800.00. Following the purchase, the director now directly owns 100 shares of the company’s stock, valued at $896. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Frank Karbe acquired 8,000 shares of Myovant Sciences stock in a transaction on Tuesday, June 11th. The stock was acquired at an average price of $9.10 per share, with a total value of $72,800.00. Following the purchase, the insider now directly owns 8,000 shares in the company, valued at $72,800. The disclosure for this purchase can be found here. Insiders acquired a total of 2,437,242 shares of company stock valued at $20,117,597 in the last 90 days. Corporate insiders own 3.00% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the company. BlackRock Inc. lifted its position in shares of Myovant Sciences by 5.2% during the 4th quarter. BlackRock Inc. now owns 27,912 shares of the company’s stock valued at $458,000 after buying an additional 1,386 shares during the last quarter. Swiss National Bank lifted its position in shares of Myovant Sciences by 134.0% during the 2nd quarter. Swiss National Bank now owns 73,000 shares of the company’s stock valued at $661,000 after buying an additional 41,800 shares during the last quarter. Bank of New York Mellon Corp lifted its position in shares of Myovant Sciences by 3,012.4% during the 4th quarter. Bank of New York Mellon Corp now owns 369,320 shares of the company’s stock valued at $6,060,000 after buying an additional 357,454 shares during the last quarter. Norges Bank purchased a new position in shares of Myovant Sciences during the 4th quarter valued at $12,308,000. Finally, Victory Capital Management Inc. purchased a new position in shares of Myovant Sciences during the 1st quarter valued at $20,104,000. 30.56% of the stock is currently owned by hedge funds and other institutional investors.
About Myovant Sciences
Myovant Sciences Ltd., a clinical-stage biopharmaceutical company, focuses on developing and commercializing therapies for women's health and endocrine diseases. The company's lead product is relugolix, an oral, once-daily, small molecule that acts as a gonadotropin-releasing hormone receptor antagonist for the treatment of heavy menstrual bleeding related with uterine fibroids, endometriosis-associated pain, and advanced prostate cancer.
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