Myovant Sciences Ltd (NYSE:MYOV) Expected to Announce Earnings of -$0.78 Per Share

Wall Street brokerages forecast that Myovant Sciences Ltd (NYSE:MYOV) will announce earnings of ($0.78) per share for the current fiscal quarter, according to Zacks Investment Research. Zero analysts have provided estimates for Myovant Sciences’ earnings. The lowest EPS estimate is ($0.83) and the highest is ($0.73). Myovant Sciences reported earnings per share of ($0.99) in the same quarter last year, which would suggest a positive year over year growth rate of 21.2%. The business is expected to issue its next earnings report on Thursday, November 14th.

On average, analysts expect that Myovant Sciences will report full-year earnings of ($3.03) per share for the current fiscal year, with EPS estimates ranging from ($3.15) to ($2.92). For the next year, analysts expect that the company will post earnings of ($2.83) per share, with EPS estimates ranging from ($3.03) to ($2.70). Zacks’ EPS averages are a mean average based on a survey of analysts that cover Myovant Sciences.

Myovant Sciences (NYSE:MYOV) last issued its quarterly earnings results on Tuesday, August 6th. The company reported ($0.89) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.95) by $0.06.



A number of research firms have weighed in on MYOV. ValuEngine raised Myovant Sciences from a “hold” rating to a “buy” rating in a research note on Thursday, August 1st. Citigroup began coverage on Myovant Sciences in a research note on Thursday, May 30th. They set a “buy” rating and a $25.00 price objective on the stock. Finally, Zacks Investment Research raised Myovant Sciences from a “hold” rating to a “buy” rating and set a $8.25 price objective on the stock in a research note on Saturday, August 10th. One investment analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $24.54.

In other Myovant Sciences news, insider Frank Karbe purchased 8,000 shares of the firm’s stock in a transaction dated Tuesday, June 11th. The shares were 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 approximately $72,800. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, major shareholder Andrew Lo purchased 2,424,242 shares of the firm’s stock in a transaction dated Tuesday, June 4th. The stock was acquired at an average cost of $8.25 per share, for a total transaction of $19,999,996.50. Following the purchase, the insider now owns 40,765,599 shares in the company, valued at $336,316,191.75. The disclosure for this purchase can be found here. Insiders have acquired 2,437,242 shares of company stock worth $20,117,597 in the last three months. 3.00% of the stock is currently owned by corporate insiders.

Several institutional investors have recently made changes to their positions in the company. BlackRock Inc. lifted its stake in shares of Myovant Sciences by 5.2% in the 4th quarter. BlackRock Inc. now owns 27,912 shares of the company’s stock valued at $458,000 after purchasing an additional 1,386 shares during the last quarter. Tower Research Capital LLC TRC acquired a new position in shares of Myovant Sciences in the 2nd quarter valued at $60,000. Northern Trust Corp acquired a new position in shares of Myovant Sciences in the 2nd quarter valued at $105,000. OneAscent Financial Services LLC acquired a new position in shares of Myovant Sciences in the 2nd quarter valued at $172,000. Finally, JPMorgan Chase & Co. lifted its stake in shares of Myovant Sciences by 34.7% in the 2nd quarter. JPMorgan Chase & Co. now owns 112,361 shares of the company’s stock valued at $1,039,000 after purchasing an additional 28,941 shares during the last quarter. 26.71% of the stock is currently owned by institutional investors and hedge funds.

Shares of NYSE:MYOV traded down $0.03 during trading on Friday, reaching $7.00. The stock had a trading volume of 268,098 shares, compared to its average volume of 198,628. The business has a fifty day moving average price of $8.02 and a 200-day moving average price of $15.28. The stock has a market cap of $627.34 million, a PE ratio of -1.69 and a beta of 1.05. The company has a debt-to-equity ratio of 1.24, a quick ratio of 3.42 and a current ratio of 3.42. Myovant Sciences has a 1-year low of $6.60 and a 1-year high of $27.45.

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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