Myovant Sciences (NYSE:MYOV) Lowered to Hold at ValuEngine

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Myovant Sciences (NYSE:MYOV) was downgraded by stock analysts at ValuEngine from a “buy” rating to a “hold” rating in a report issued on Tuesday, ValuEngine reports.

A number of other equities research analysts also recently issued reports on the stock. Goldman Sachs Group reissued a “buy” rating and issued a $20.00 price target (up from $18.00) on shares of Myovant Sciences in a research note on Tuesday, November 19th. Cowen reissued a “buy” rating on shares of Myovant Sciences in a research note on Tuesday, November 12th. Zacks Investment Research downgraded shares of Myovant Sciences from a “buy” rating to a “hold” rating in a research note on Wednesday, October 9th. Svb Leerink assumed coverage on shares of Myovant Sciences in a research note on Monday, August 19th. They issued an “outperform” rating and a $26.00 price target on the stock. Finally, JMP Securities reissued a “buy” rating and issued a $34.00 price target on shares of Myovant Sciences in a research note on Tuesday, November 19th. Two research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. The company has an average rating of “Buy” and an average target price of $23.46.

Myovant Sciences stock opened at $19.21 on Tuesday. The company’s 50 day simple moving average is $8.22 and its 200-day simple moving average is $8.15. The company has a market capitalization of $1.63 billion, a price-to-earnings ratio of -4.70 and a beta of 2.02. Myovant Sciences has a 1 year low of $4.14 and a 1 year high of $26.02. The company has a debt-to-equity ratio of 5.88, a quick ratio of 2.79 and a current ratio of 2.79.

Myovant Sciences (NYSE:MYOV) last released its quarterly earnings results on Tuesday, November 12th. The company reported ($0.79) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.72) by ($0.07). Equities analysts expect that Myovant Sciences will post -3.29 earnings per share for the current year.

In other Myovant Sciences news, major shareholder Sciences Ltd. Roivant bought 121,906 shares of the business’s stock in a transaction that occurred on Wednesday, November 20th. The shares were purchased at an average cost of $12.90 per share, with a total value of $1,572,587.40. Following the purchase, the insider now directly owns 40,887,505 shares in the company, valued at $527,448,814.50. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 3.00% of the stock is owned by corporate insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in MYOV. Janus Henderson Group PLC increased its stake in Myovant Sciences by 73.6% during the 2nd quarter. Janus Henderson Group PLC now owns 4,350,335 shares of the company’s stock worth $39,371,000 after buying an additional 1,843,943 shares during the period. Victory Capital Management Inc. increased its stake in Myovant Sciences by 169.8% during the 2nd quarter. Victory Capital Management Inc. now owns 2,272,013 shares of the company’s stock worth $20,562,000 after buying an additional 1,429,770 shares during the period. Point72 Asset Management L.P. purchased a new stake in Myovant Sciences during the 2nd quarter worth approximately $7,733,000. Eventide Asset Management LLC grew its holdings in Myovant Sciences by 9.6% during the 3rd quarter. Eventide Asset Management LLC now owns 4,694,917 shares of the company’s stock worth $24,414,000 after acquiring an additional 409,305 shares in the last quarter. Finally, First Manhattan Co. grew its holdings in Myovant Sciences by 2,146.6% during the 2nd quarter. First Manhattan Co. now owns 400,000 shares of the company’s stock worth $3,620,000 after acquiring an additional 382,195 shares in the last quarter. 38.81% 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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Analyst Recommendations for Myovant Sciences (NYSE:MYOV)

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