Svb Leerink started coverage on shares of Myovant Sciences (NYSE:MYOV) in a research note published on Monday, BenzingaRatingsTable reports. The brokerage issued an outperform rating and a $26.00 price target on the stock. Svb Leerink also issued estimates for Myovant Sciences’ Q2 2020 earnings at ($0.87) EPS, Q3 2020 earnings at ($0.86) EPS, Q4 2020 earnings at ($0.81) EPS, FY2020 earnings at ($3.44) EPS, FY2021 earnings at ($2.52) EPS, FY2022 earnings at ($1.45) EPS, FY2023 earnings at $0.35 EPS and FY2024 earnings at $2.01 EPS.
Other equities analysts have also issued reports about the stock. ValuEngine raised shares of Myovant Sciences from a hold rating to a buy rating in a report on Thursday, August 1st. Leerink Swann initiated coverage on shares of Myovant Sciences in a report on Monday. They issued an outperform rating and a $26.00 price target on the stock. Zacks Investment Research raised shares of Myovant Sciences from a hold rating to a buy rating and set a $8.25 price target on the stock in a report on Saturday, August 10th. Finally, Citigroup initiated coverage on shares of Myovant Sciences in a report on Thursday, May 30th. They issued a buy rating and a $25.00 price target on the stock. One equities research analyst has rated the stock with a hold rating and ten have given a buy rating to the stock. The stock has a consensus rating of Buy and a consensus price target of $24.91.
Shares of MYOV stock opened at $7.70 on Monday. The firm has a market cap of $716.06 million, a price-to-earnings ratio of -1.88 and a beta of 1.05. The company’s 50 day moving average is $7.82 and its 200 day moving average is $14.95. The company has a quick ratio of 3.42, a current ratio of 3.42 and a debt-to-equity ratio of 1.24. Myovant Sciences has a 52-week low of $6.60 and a 52-week high of $27.45.
In other news, Director Kathleen Sebelius purchased 5,000 shares of the business’s stock in a transaction on Wednesday, June 12th. The shares were acquired at an average cost of $8.96 per share, with a total value of $44,800.00. Following the completion of the acquisition, the director now 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 this link. Also, major shareholder Andrew Lo purchased 2,424,242 shares of the business’s stock in a transaction on Tuesday, June 4th. The stock was purchased at an average cost of $8.25 per share, for a total transaction of $19,999,996.50. Following the completion of the acquisition, the insider now directly owns 40,765,599 shares of the company’s stock, valued at approximately $336,316,191.75. The disclosure for this purchase can be found here. Insiders acquired 2,437,242 shares of company stock worth $20,117,597 over the last ninety days. Corporate insiders own 3.00% of the company’s stock.
Several institutional investors and hedge funds have recently made changes to their positions in the company. BlackRock Inc. grew its holdings in shares of Myovant Sciences by 5.2% during the fourth 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. Tower Research Capital LLC TRC purchased a new stake in shares of Myovant Sciences during the second quarter valued at $60,000. Northern Trust Corp purchased a new stake in shares of Myovant Sciences during the second quarter valued at $105,000. OneAscent Financial Services LLC purchased a new stake in shares of Myovant Sciences during the second quarter valued at $172,000. Finally, JPMorgan Chase & Co. grew its holdings in shares of Myovant Sciences by 34.7% during the second quarter. JPMorgan Chase & Co. now owns 112,361 shares of the company’s stock valued at $1,039,000 after buying an additional 28,941 shares during the last quarter. 26.79% 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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