Myovant Sciences (MYOV) Downgraded to Hold at Zacks Investment Research

Zacks Investment Research lowered shares of Myovant Sciences (NYSE:MYOV) from a buy rating to a hold rating in a research note published on Tuesday morning, Zacks.com reports.

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 analysts have also commented on MYOV. ValuEngine upgraded shares of Myovant Sciences from a hold rating to a buy rating in a report on Monday, January 7th. JMP Securities reiterated a buy rating and issued a $25.00 price target on shares of Myovant Sciences in a research note on Monday, February 11th. Barclays upgraded shares of Myovant Sciences from an equal weight rating to an overweight rating and increased their price target for the stock from $22.00 to $25.00 in a research note on Wednesday, February 13th. Finally, Evercore ISI assumed coverage on shares of Myovant Sciences in a research note on Thursday, April 11th. They issued an outperform rating for the company. Three analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The stock has an average rating of Buy and an average target price of $30.50.

Shares of NYSE MYOV opened at $19.93 on Tuesday. The company has a debt-to-equity ratio of 2.08, a current ratio of 3.51 and a quick ratio of 3.51. Myovant Sciences has a 12 month low of $14.32 and a 12 month high of $27.45. The firm has a market capitalization of $1.45 billion, a price-to-earnings ratio of -8.27 and a beta of 0.79.

Myovant Sciences (NYSE:MYOV) last issued its quarterly earnings data on Thursday, February 7th. The company reported ($1.04) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.98) by ($0.06). Equities research analysts expect that Myovant Sciences will post -4.04 EPS for the current year.

Institutional investors have recently modified their holdings of the stock. First Manhattan Co. bought a new position in shares of Myovant Sciences in the 4th quarter worth about $292,000. BlackRock Inc. increased its stake in shares of Myovant Sciences by 5.2% in the 4th quarter. BlackRock Inc. now owns 27,912 shares of the company’s stock worth $458,000 after acquiring an additional 1,386 shares in the last quarter. Bank of New York Mellon Corp increased its stake in shares of Myovant Sciences by 3,012.4% in the 4th quarter. Bank of New York Mellon Corp now owns 369,320 shares of the company’s stock worth $6,060,000 after acquiring an additional 357,454 shares in the last quarter. Norges Bank bought a new position in shares of Myovant Sciences in the 4th quarter worth about $12,308,000. Finally, Lord Abbett & CO. LLC increased its stake in shares of Myovant Sciences by 0.9% in the 4th quarter. Lord Abbett & CO. LLC now owns 1,913,548 shares of the company’s stock worth $31,401,000 after acquiring an additional 16,668 shares in the last quarter. Institutional investors own 29.93% 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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