Zacks Investment Research upgraded shares of Myovant Sciences (NYSE:MYOV) from a sell rating to a hold rating in a research report released on Thursday morning.
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 equities analysts have also recently issued reports on the company. Citigroup reduced their target price on Myovant Sciences from $44.00 to $42.00 and set a buy rating on the stock in a research note on Monday, November 19th. Cowen reissued a buy rating on shares of Myovant Sciences in a research note on Friday, November 9th. Goldman Sachs Group assumed coverage on Myovant Sciences in a research note on Friday, October 26th. They set a neutral rating and a $25.00 target price on the stock. Finally, JPMorgan Chase & Co. assumed coverage on Myovant Sciences in a research note on Thursday, September 13th. They set an overweight rating and a $39.00 target price on the stock. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Myovant Sciences currently has a consensus rating of Buy and an average target price of $31.00.
Myovant Sciences (NYSE:MYOV) last posted its earnings results on Thursday, November 8th. The company reported ($0.99) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.93) by ($0.06). Research analysts forecast that Myovant Sciences will post -4 EPS for the current fiscal year.
In other news, Director Mark Altmeyer purchased 3,500 shares of Myovant Sciences stock in a transaction that occurred on Saturday, November 17th. The shares were bought at an average cost of $13.38 per share, with a total value of $46,830.00. Following the completion of the purchase, the director now directly owns 3,500 shares in the company, valued at $46,830. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 3.10% of the stock is owned by corporate insiders.
A number of hedge funds have recently modified their holdings of the stock. Opera Trading Capital purchased a new stake in Myovant Sciences in the third quarter worth $117,000. Atria Investments LLC purchased a new stake in Myovant Sciences in the third quarter worth $201,000. Renaissance Technologies LLC purchased a new stake in Myovant Sciences in the second quarter worth $297,000. Platinum Investment Management Ltd. grew its stake in Myovant Sciences by 31.7% in the third quarter. Platinum Investment Management Ltd. now owns 71,400 shares of the company’s stock worth $1,896,000 after purchasing an additional 17,200 shares during the period. Finally, BB Biotech AG grew its stake in Myovant Sciences by 1.7% in the third quarter. BB Biotech AG now owns 3,567,882 shares of the company’s stock worth $94,727,000 after purchasing an additional 60,000 shares during the period. 25.86% of the stock is currently owned by 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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