Svb Leerink Begins Coverage on Myovant Sciences (NYSE:MYOV)
Svb Leerink began coverage on shares of Myovant Sciences (NYSE:MYOV) in a research note released on Monday morning, BenzingaRatingsTable reports. The firm issued an outperform rating and a $26.00 price target on the stock.
Several other equities analysts have also issued reports on MYOV. Leerink Swann initiated coverage on Myovant Sciences in a research note on Monday. They issued an outperform rating and a $26.00 price target on the stock. Citigroup initiated coverage on Myovant Sciences in a research note on Thursday, May 30th. They issued a buy rating and a $25.00 price target on the stock. Zacks Investment Research upgraded 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. Finally, ValuEngine upgraded Myovant Sciences from a hold rating to a buy rating in a research note on Thursday, August 1st. One research analyst has rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. The company presently has an average rating of Buy and a consensus target price of $24.91.
Shares of MYOV opened at $7.93 on Monday. Myovant Sciences has a 52-week low of $6.60 and a 52-week high of $27.45. The business’s fifty day moving average is $7.84 and its 200-day moving average is $15.01. The company has a debt-to-equity ratio of 1.24, a quick ratio of 3.42 and a current ratio of 3.42. The firm has a market cap of $627.36 million, a price-to-earnings ratio of -1.94 and a beta of 1.05.
In related news, major shareholder Andrew Lo bought 2,424,242 shares of the business’s stock in a transaction on Tuesday, June 4th. The shares were purchased at an average cost of $8.25 per share, with a total value of $19,999,996.50. Following the acquisition, the insider now owns 40,765,599 shares of the company’s stock, valued at $336,316,191.75. The purchase was disclosed in a filing with the SEC, which is available through this link. Also, Director Kathleen Sebelius bought 5,000 shares of the business’s stock in a transaction on Wednesday, June 12th. The shares were bought at an average cost of $8.96 per share, for a total transaction of $44,800.00. Following the completion of the acquisition, the director now directly owns 100 shares in the company, valued at approximately $896. The disclosure for this purchase can be found here. Insiders have purchased a total of 2,437,242 shares of company stock worth $20,117,597 in the last 90 days. 3.00% of the stock is currently owned by corporate insiders.
Institutional investors and hedge funds have recently made changes to their positions in the business. Janus Henderson Group PLC grew its stake in Myovant Sciences by 73.6% in the second quarter. Janus Henderson Group PLC now owns 4,350,335 shares of the company’s stock valued at $39,371,000 after purchasing an additional 1,843,943 shares in the last quarter. Victory Capital Management Inc. grew its stake in Myovant Sciences by 169.8% in the second quarter. Victory Capital Management Inc. now owns 2,272,013 shares of the company’s stock valued at $20,562,000 after purchasing an additional 1,429,770 shares in the last quarter. Price T Rowe Associates Inc. MD grew its stake in Myovant Sciences by 33.8% in the second quarter. Price T Rowe Associates Inc. MD now owns 1,086,893 shares of the company’s stock valued at $9,836,000 after purchasing an additional 274,745 shares in the last quarter. Point72 Asset Management L.P. bought a new position in shares of Myovant Sciences during the 2nd quarter worth approximately $7,733,000. Finally, Norges Bank bought a new position in shares of Myovant Sciences during the 4th quarter worth approximately $12,308,000. 26.79% of the stock is currently owned by hedge funds and other institutional investors.
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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