Leerink Swann assumed coverage on shares of Myovant Sciences (NYSE:MYOV) in a report published on Monday, The Fly reports. The firm issued an outperform rating and a $26.00 price objective on the stock.
Several other equities research analysts have also weighed in on the company. ValuEngine upgraded Myovant Sciences from a hold rating to a buy rating in a report on Thursday, August 1st. Zacks Investment Research upgraded Myovant Sciences from a hold rating to a buy rating and set a $8.25 target price for the company in a report on Saturday, August 10th. Finally, Citigroup began coverage on Myovant Sciences in a report on Thursday, May 30th. They set a buy rating and a $25.00 price target for the company. One equities research analyst has rated the stock with a hold rating and ten have assigned a buy rating to the stock. The company presently has an average rating of Buy and an average price target of $24.91.
Shares of Myovant Sciences stock opened at $7.93 on Monday. The firm has a market cap of $627.36 million, a price-to-earnings ratio of -1.94 and a beta of 1.05. The company has a debt-to-equity ratio of 1.24, a current ratio of 3.42 and a quick ratio of 3.42. Myovant Sciences has a 52-week low of $6.60 and a 52-week high of $27.45. The stock has a 50-day simple moving average of $7.84 and a 200-day simple moving average of $15.01.
In other news, major shareholder Andrew Lo acquired 2,424,242 shares of the stock in a transaction dated Tuesday, June 4th. The shares were acquired at an average cost of $8.25 per share, for a total transaction of $19,999,996.50. Following the completion of the transaction, the insider now owns 40,765,599 shares in the company, valued at approximately $336,316,191.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Kathleen Sebelius acquired 5,000 shares of the stock in a transaction dated Wednesday, June 12th. The shares were purchased at an average price of $8.96 per share, for a total transaction of $44,800.00. Following the completion of the transaction, the director now owns 100 shares of the company’s stock, valued at approximately $896. The disclosure for this purchase can be found here. Over the last quarter, insiders have bought 2,437,242 shares of company stock valued at $20,117,597. Corporate insiders own 3.00% of the company’s stock.
Several institutional investors and hedge funds have recently added to or reduced their stakes in MYOV. BlackRock Inc. grew its position in Myovant Sciences by 5.2% in the fourth quarter. BlackRock Inc. now owns 27,912 shares of the company’s stock valued at $458,000 after acquiring an additional 1,386 shares during the period. Tower Research Capital LLC TRC bought a new stake in Myovant Sciences in the second quarter valued at $60,000. Northern Trust Corp bought a new stake in Myovant Sciences in the second quarter valued at $105,000. OneAscent Financial Services LLC bought a new stake in Myovant Sciences in the second quarter valued at $172,000. Finally, JPMorgan Chase & Co. grew its position in Myovant Sciences by 34.7% in the second quarter. JPMorgan Chase & Co. now owns 112,361 shares of the company’s stock valued at $1,039,000 after acquiring an additional 28,941 shares during the period. Institutional investors and hedge funds own 26.79% of the company’s stock.
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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