Myovant Sciences (NYSE:MYOV) had its price target boosted by equities research analysts at Evercore ISI from $30.00 to $35.00 in a research report issued on Monday, The Fly reports. Evercore ISI’s price target would suggest a potential upside of 106.73% from the company’s current price.
A number of other equities research analysts have also issued reports on the stock. Zacks Investment Research upgraded shares of Myovant Sciences from a “hold” rating to a “buy” rating and set a $8.50 target price on the stock in a report on Saturday, April 4th. SVB Leerink reduced their target price on shares of Myovant Sciences from $28.00 to $27.00 and set an “outperform” rating on the stock in a report on Tuesday, May 19th. Cowen reiterated a “buy” rating on shares of Myovant Sciences in a report on Monday, February 10th. Citigroup initiated coverage on shares of Myovant Sciences in a report on Sunday, February 2nd. They set a “neutral” rating and a $15.00 target price on the stock. Finally, ValuEngine lowered shares of Myovant Sciences from a “strong-buy” rating to a “buy” rating in a report on Tuesday, April 21st. One investment analyst has rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Myovant Sciences currently has a consensus rating of “Buy” and an average price target of $23.64.
Shares of NYSE:MYOV traded up $4.68 during mid-day trading on Monday, reaching $16.93. 18,703,804 shares of the company were exchanged, compared to its average volume of 991,164. The company has a debt-to-equity ratio of 5.88, a current ratio of 1.02 and a quick ratio of 1.02. The firm has a market cap of $1.20 billion, a price-to-earnings ratio of -5.02 and a beta of 2.56. The firm’s 50-day simple moving average is $11.74 and its 200 day simple moving average is $12.06. Myovant Sciences has a 1 year low of $4.14 and a 1 year high of $19.58.
In other news, major shareholder Chemical Co. Ltd. Sumitomo acquired 35,000 shares of Myovant Sciences stock in a transaction dated Monday, May 11th. The shares were acquired at an average cost of $12.78 per share, for a total transaction of $447,300.00. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Insiders bought a total of 2,657,829 shares of company stock worth $23,976,151 over the last 90 days. Company insiders own 3.68% of the company’s stock.
Institutional investors and hedge funds have recently made changes to their positions in the company. Tower Research Capital LLC TRC raised its holdings in shares of Myovant Sciences by 28.6% in the 1st quarter. Tower Research Capital LLC TRC now owns 6,526 shares of the company’s stock valued at $49,000 after purchasing an additional 1,453 shares in the last quarter. Wells Fargo & Company MN raised its stake in Myovant Sciences by 34.8% during the 1st quarter. Wells Fargo & Company MN now owns 8,530 shares of the company’s stock worth $64,000 after acquiring an additional 2,200 shares in the last quarter. Sowell Financial Services LLC acquired a new stake in Myovant Sciences during the 4th quarter worth $72,000. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Myovant Sciences by 133.4% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,518 shares of the company’s stock worth $86,000 after acquiring an additional 3,154 shares in the last quarter. Finally, Sigma Planning Corp acquired a new stake in Myovant Sciences during the 4th quarter worth $155,000. Institutional investors and hedge funds own 34.22% 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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