Zacks Investment Research Upgrades Myovant Sciences (MYOV) to “Hold”
Myovant Sciences (NYSE:MYOV) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued on Thursday.
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 research firms have also issued reports on MYOV. Cowen reaffirmed a “buy” rating on shares of Myovant Sciences in a research note on Friday, November 9th. JPMorgan Chase & Co. initiated coverage on Myovant Sciences in a research note on Thursday, September 13th. They issued an “overweight” rating and a $39.00 price objective for the company. Goldman Sachs Group initiated coverage on Myovant Sciences in a research note on Friday, October 26th. They issued a “neutral” rating and a $25.00 price objective for the company. Finally, Citigroup lowered their price objective on Myovant Sciences from $44.00 to $42.00 and set a “buy” rating for the company in a research note on Monday, November 19th. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $31.00.
Myovant Sciences (NYSE:MYOV) last posted its quarterly earnings data on Thursday, November 8th. The company reported ($0.99) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.93) by ($0.06). As a group, research analysts forecast that Myovant Sciences will post -4 EPS for the current fiscal year.
In other Myovant Sciences news, Director Mark Altmeyer purchased 3,500 shares of the firm’s stock in a transaction that occurred on Saturday, November 17th. The stock was purchased at an average cost of $13.38 per share, with a total value of $46,830.00. Following the purchase, the director now owns 3,500 shares of the company’s stock, valued at $46,830. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 3.10% of the stock is owned by company insiders.
Several hedge funds have recently modified their holdings of the stock. Opera Trading Capital bought a new stake in shares of Myovant Sciences during the 3rd quarter worth approximately $117,000. Atria Investments LLC bought a new stake in shares of Myovant Sciences during the 3rd quarter worth approximately $201,000. Renaissance Technologies LLC bought a new stake in shares of Myovant Sciences during the 2nd quarter worth approximately $297,000. Platinum Investment Management Ltd. lifted its stake in shares of Myovant Sciences by 31.7% during the 3rd quarter. Platinum Investment Management Ltd. now owns 71,400 shares of the company’s stock worth $1,896,000 after acquiring an additional 17,200 shares during the last quarter. Finally, BB Biotech AG lifted its stake in shares of Myovant Sciences by 1.7% during the 3rd quarter. BB Biotech AG now owns 3,567,882 shares of the company’s stock worth $94,727,000 after acquiring an additional 60,000 shares during the last quarter. 25.86% of the stock is 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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