Myovant Sciences Ltd (MYOV) Expected to Post Earnings of -$1.02 Per Share

Analysts expect that Myovant Sciences Ltd (NYSE:MYOV) will post earnings per share of ($1.02) for the current fiscal quarter, Zacks reports. Zero analysts have provided estimates for Myovant Sciences’ earnings, with estimates ranging from ($1.05) to ($0.97). Myovant Sciences posted earnings of ($0.81) per share in the same quarter last year, which would indicate a negative year-over-year growth rate of 25.9%. The company is expected to announce its next earnings report on Thursday, June 6th.

According to Zacks, analysts expect that Myovant Sciences will report full year earnings of ($4.02) per share for the current fiscal year, with EPS estimates ranging from ($4.07) to ($4.00). For the next fiscal year, analysts anticipate that the company will post earnings of ($3.84) per share, with EPS estimates ranging from ($4.21) to ($3.50). Zacks Investment Research’s EPS calculations are a mean average based on a survey of sell-side research firms that cover Myovant Sciences.

Myovant Sciences (NYSE:MYOV) last posted its earnings results on Thursday, February 7th. The company reported ($1.04) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.98) by ($0.06).

Several research firms have recently issued reports on MYOV. Barclays raised shares of Myovant Sciences from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $22.00 to $25.00 in a research report on Wednesday. Zacks Investment Research raised shares of Myovant Sciences from a “sell” rating to a “hold” rating in a research note on Thursday, December 6th. JMP Securities restated a “buy” rating and set a $25.00 price objective on shares of Myovant Sciences in a research report on Monday. ValuEngine upgraded shares of Myovant Sciences from a “hold” rating to a “buy” rating in a research report on Monday, January 7th. Finally, Goldman Sachs Group began coverage on shares of Myovant Sciences in a research report on Friday, October 26th. They set a “neutral” rating and a $25.00 price objective for the company. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Myovant Sciences has an average rating of “Buy” and a consensus price target of $31.20.

Shares of Myovant Sciences stock traded up $1.91 during trading on Friday, hitting $21.10. 1,631 shares of the stock were exchanged, compared to its average volume of 63,159. The stock has a market cap of $1.31 billion, a P/E ratio of -8.72 and a beta of 0.68. Myovant Sciences has a 12-month low of $13.13 and a 12-month high of $27.45. The company has a current ratio of 3.51, a quick ratio of 3.51 and a debt-to-equity ratio of 2.08.

In other news, Director Mark Altmeyer purchased 3,500 shares of the business’s stock in a transaction dated Saturday, November 17th. The shares were purchased at an average cost of $13.38 per share, with a total value of $46,830.00. Following the completion of the purchase, the director now owns 3,500 shares of the company’s stock, valued at approximately $46,830. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 3.10% of the company’s stock.

Hedge funds have recently modified their holdings of the business. Opera Trading Capital purchased a new stake in Myovant Sciences during the 3rd quarter valued at $117,000. Atria Investments LLC acquired a new position in shares of Myovant Sciences during the third quarter worth $201,000. First Manhattan Co. acquired a new position in shares of Myovant Sciences during the fourth quarter worth $292,000. Renaissance Technologies LLC acquired a new position in shares of Myovant Sciences during the second quarter worth $297,000. Finally, BlackRock Inc. grew its stake in shares of Myovant Sciences by 5.2% during the fourth quarter. BlackRock Inc. now owns 27,912 shares of the company’s stock worth $458,000 after purchasing an additional 1,386 shares in the last quarter. Institutional investors and hedge funds own 25.86% of the company’s stock.

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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