A number of other analysts have also recently issued reports on MYOV. Evercore ISI began coverage on Myovant Sciences in a report on Thursday, April 11th. They set an “outperform” rating for the company. Zacks Investment Research cut Myovant Sciences from a “buy” rating to a “hold” rating in a report on Wednesday. Finally, Citigroup began coverage on Myovant Sciences in a report on Thursday, May 30th. They set a “buy” rating and a $25.00 target price for the company. Two equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $26.83.
Shares of NYSE:MYOV traded down $0.15 during trading on Thursday, reaching $6.90. 255,081 shares of the stock were exchanged, compared to its average volume of 253,049. The company has a debt-to-equity ratio of 21.51, a quick ratio of 2.32 and a current ratio of 2.32. Myovant Sciences has a 12-month low of $6.60 and a 12-month high of $27.45. The firm has a market capitalization of $618.38 million, a price-to-earnings ratio of -1.69 and a beta of 1.06. The company has a 50-day moving average price of $8.52.
In related news, major shareholder Andrew Lo purchased 2,424,242 shares of the firm’s stock in a transaction on Tuesday, June 4th. The stock was purchased at an average price of $8.25 per share, for a total transaction of $19,999,996.50. Following the acquisition, the insider now directly owns 40,765,599 shares in the company, valued at $336,316,191.75. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Kathleen Sebelius purchased 5,000 shares of the firm’s stock in a transaction on Wednesday, June 12th. The stock was bought at an average price of $8.96 per share, with a total value of $44,800.00. Following the acquisition, the director now owns 100 shares in the company, valued at $896. The disclosure for this purchase can be found here. In the last 90 days, insiders acquired 2,437,242 shares of company stock valued at $20,117,597. 3.00% of the stock is owned by company insiders.
Several institutional investors and hedge funds have recently made changes to their positions in MYOV. Janus Henderson Group PLC raised its position in shares of Myovant Sciences by 73.6% in the 2nd quarter. Janus Henderson Group PLC now owns 4,350,335 shares of the company’s stock valued at $39,371,000 after purchasing an additional 1,843,943 shares in the last quarter. Victory Capital Management Inc. acquired a new position in shares of Myovant Sciences in the 1st quarter valued at approximately $20,104,000. Norges Bank acquired a new position in shares of Myovant Sciences in the 4th quarter valued at approximately $12,308,000. Bank of New York Mellon Corp raised its position in shares of Myovant Sciences by 3,012.4% in 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 purchasing an additional 357,454 shares in the last quarter. Finally, Swiss National Bank raised its position in shares of Myovant Sciences by 134.0% in the 2nd quarter. Swiss National Bank now owns 73,000 shares of the company’s stock valued at $661,000 after purchasing an additional 41,800 shares in the last quarter. 30.56% of the stock is currently owned by 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.
Further Reading: Price to Earnings Ratio (PE), For Valuing Stocks
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