Shares of Myovant Sciences Ltd (NYSE:MYOV) have earned a consensus rating of “Buy” from the nine brokerages that are presently covering the firm, MarketBeat reports. One investment analyst has rated the stock with a hold rating and eight have issued a buy rating on the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $24.54.
A number of research analysts recently weighed in 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 research note on Saturday, August 10th. Citigroup assumed coverage on shares of Myovant Sciences in a research note on Thursday, May 30th. They issued a “buy” rating and a $25.00 price target on the stock. Finally, ValuEngine raised shares of Myovant Sciences from a “hold” rating to a “buy” rating in a research note on Thursday, August 1st.
Myovant Sciences stock remained flat at $$7.00 during midday trading on Friday. 268,100 shares of the company were exchanged, compared to its average volume of 268,111. The company has a market capitalization of $627.36 million, a P/E ratio of -1.71 and a beta of 1.05. Myovant Sciences has a 1 year low of $6.60 and a 1 year high of $27.45. The business has a 50-day moving average of $7.98 and a two-hundred day moving average of $15.23. The company has a quick ratio of 3.42, a current ratio of 3.42 and a debt-to-equity ratio of 1.24.
In other Myovant Sciences news, insider Frank Karbe bought 8,000 shares of the firm’s stock in a transaction on Tuesday, June 11th. The shares were acquired at an average cost of $9.10 per share, with a total value of $72,800.00. Following the purchase, the insider now directly owns 8,000 shares of the company’s stock, valued at approximately $72,800. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Also, major shareholder Andrew Lo bought 2,424,242 shares of the firm’s stock in a transaction on 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 completion of the purchase, the insider now directly owns 40,765,599 shares in the company, valued at $336,316,191.75. The disclosure for this purchase can be found here. Insiders acquired a total of 2,437,242 shares of company stock worth $20,117,597 over the last three months. Corporate insiders own 3.00% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in the company. BlackRock Inc. raised its position in shares of Myovant Sciences by 5.2% during the 4th 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 period. Tower Research Capital LLC TRC purchased a new stake in shares of Myovant Sciences during the 2nd quarter valued at approximately $60,000. Northern Trust Corp purchased a new stake in shares of Myovant Sciences during the 2nd quarter valued at approximately $105,000. OneAscent Financial Services LLC purchased a new stake in shares of Myovant Sciences during the 2nd quarter valued at approximately $172,000. Finally, JPMorgan Chase & Co. raised its position in shares of Myovant Sciences by 34.7% during the 2nd 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 period. 26.71% 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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