Myovant Sciences (MYOV) Upgraded at Zacks Investment Research

Zacks Investment Research upgraded shares of Myovant Sciences (NYSE:MYOV) from a hold rating to a buy rating in a research note released on Thursday, Zacks.com reports. Zacks Investment Research currently has $22.00 price objective on the stock.

According to Zacks, “Myovant Sciences Ltd. is a biopharmaceutical company. It focused on developing and commercializing therapies for women’s health diseases and other endocrine-related disorders, including advanced prostate cancer. The company’s product candidate consists of relugolix which are in clinical trial, an oral once-daily small molecule that acts as a gonadotropin-releasing hormone receptor antagonist. Myovant Sciences Ltd. is based in Hamilton, Bermuda. “

Several other research firms have also weighed in on MYOV. Evercore ISI began coverage on Myovant Sciences in a research note on Thursday, April 11th. They issued an outperform rating on the stock. ValuEngine lowered Myovant Sciences from a buy rating to a hold rating in a research note on Saturday, April 13th. JMP Securities reissued a buy rating and issued a $25.00 target price on shares of Myovant Sciences in a research note on Monday, February 11th. Finally, Barclays raised Myovant Sciences from an equal weight rating to an overweight rating and increased their target price for the company from $22.00 to $25.00 in a research note on Wednesday, February 13th. Two investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The company presently has an average rating of Buy and an average target price of $29.67.

Myovant Sciences stock opened at $18.38 on Thursday. Myovant Sciences has a 12-month low of $14.32 and a 12-month high of $27.45. The company has a debt-to-equity ratio of 2.08, a quick ratio of 3.51 and a current ratio of 3.51.

Myovant Sciences (NYSE:MYOV) last posted its quarterly earnings results on Thursday, February 7th. The company reported ($1.04) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.98) by ($0.06). On average, equities research analysts predict that Myovant Sciences will post -4.04 earnings per share for the current year.

A number of large investors have recently added to or reduced their stakes in MYOV. First Manhattan Co. acquired a new position in Myovant Sciences in the fourth quarter valued at about $292,000. BlackRock Inc. raised its position in shares of Myovant Sciences by 5.2% during the fourth quarter. BlackRock Inc. now owns 27,912 shares of the company’s stock worth $458,000 after purchasing an additional 1,386 shares during the period. Bank of New York Mellon Corp raised its position in shares of Myovant Sciences by 3,012.4% during the fourth quarter. Bank of New York Mellon Corp now owns 369,320 shares of the company’s stock worth $6,060,000 after purchasing an additional 357,454 shares during the period. Norges Bank acquired a new stake in shares of Myovant Sciences during the fourth quarter worth about $12,308,000. Finally, Lord Abbett & CO. LLC raised its position in shares of Myovant Sciences by 0.9% during the fourth quarter. Lord Abbett & CO. LLC now owns 1,913,548 shares of the company’s stock worth $31,401,000 after purchasing an additional 16,668 shares during the period. 29.93% of the stock is currently owned by hedge funds and other institutional investors.

Myovant Sciences Company Profile

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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