Myovant Sciences (NYSE:MYOV) Price Target Cut to $20.00

Myovant Sciences (NYSE:MYOVGet Rating) had its price objective dropped by research analysts at Robert W. Baird from $30.00 to $20.00 in a report issued on Wednesday, The Fly reports. Robert W. Baird’s price target indicates a potential upside of 76.52% from the company’s current price.

A number of other brokerages have also issued reports on MYOV. Zacks Investment Research lowered shares of Myovant Sciences from a “hold” rating to a “sell” rating in a research report on Wednesday, March 23rd. SVB Leerink lowered their target price on shares of Myovant Sciences from $21.00 to $19.00 and set a “market perform” rating on the stock in a research report on Wednesday, February 16th. Finally, StockNews.com began coverage on Myovant Sciences in a report on Thursday, March 31st. They set a “hold” rating for the company. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, Myovant Sciences currently has an average rating of “Hold” and an average target price of $22.00.

Shares of MYOV opened at $11.33 on Wednesday. The firm has a market cap of $1.06 billion, a PE ratio of -4.59 and a beta of 2.74. The company’s 50 day simple moving average is $13.13 and its 200-day simple moving average is $16.18. Myovant Sciences has a 12-month low of $10.01 and a 12-month high of $27.43.

Myovant Sciences (NYSE:MYOVGet Rating) last announced its earnings results on Wednesday, January 26th. The company reported ($0.68) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.59) by ($0.09). The firm had revenue of $54.44 million for the quarter, compared to analyst estimates of $54.50 million. During the same quarter in the previous year, the business posted ($0.82) EPS. As a group, analysts expect that Myovant Sciences will post -2.17 earnings per share for the current fiscal year.

In other Myovant Sciences news, insider Ferreira Juan Camilo Arjona sold 1,922 shares of the firm’s stock in a transaction on Tuesday, April 5th. The stock was sold at an average price of $13.78, for a total value of $26,485.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider David C. Marek sold 19,882 shares of the firm’s stock in a transaction on Wednesday, January 19th. The shares were sold at an average price of $14.68, for a total value of $291,867.76. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 24,240 shares of company stock valued at $351,921. Corporate insiders own 5.10% of the company’s stock.

Institutional investors have recently added to or reduced their stakes in the business. Dark Forest Capital Management LP acquired a new stake in Myovant Sciences in the third quarter valued at $32,000. Lazard Asset Management LLC raised its stake in shares of Myovant Sciences by 563.7% during the 4th quarter. Lazard Asset Management LLC now owns 3,803 shares of the company’s stock worth $59,000 after buying an additional 3,230 shares during the last quarter. Cornerstone Advisory LLC acquired a new position in shares of Myovant Sciences during the 4th quarter worth $98,000. Macquarie Group Ltd. raised its stake in shares of Myovant Sciences by 126.0% during the 3rd quarter. Macquarie Group Ltd. now owns 4,488 shares of the company’s stock worth $101,000 after buying an additional 2,502 shares during the last quarter. Finally, Barclays PLC raised its stake in shares of Myovant Sciences by 280.4% during the 3rd quarter. Barclays PLC now owns 5,147 shares of the company’s stock worth $116,000 after buying an additional 3,794 shares during the last quarter. 33.78% of the stock is owned by institutional investors.

About Myovant Sciences (Get Rating)

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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