Zacks: Brokerages Anticipate Myovant Sciences Ltd. (NYSE:MYOV) Will Announce Quarterly Sales of $60.06 Million

Equities analysts expect Myovant Sciences Ltd. (NYSE:MYOV – Get Rating) to report $60.06 million in sales for the current fiscal quarter, Zacks Investment Research reports. Two analysts have provided estimates for Myovant Sciences’ earnings, with the highest sales estimate coming in at $64.62 million and the lowest estimate coming in at $55.50 million. Myovant Sciences posted sales of $24.61 million in the same quarter last year, which suggests a positive year-over-year growth rate of 144%. The business is scheduled to report its next quarterly earnings results before the market opens on Monday, January 1st.

According to Zacks, analysts expect that Myovant Sciences will report full-year sales of $217.63 million for the current year, with estimates ranging from $206.35 million to $228.90 million. For the next year, analysts forecast that the business will post sales of $388.40 million, with estimates ranging from $335.20 million to $441.60 million. Zacks Investment Research’s sales averages are a mean average based on a survey of research analysts that follow Myovant Sciences.

Myovant Sciences (NYSE:MYOV – Get Rating) last released 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 company had revenue of $54.44 million during the quarter, compared to analyst estimates of $54.50 million. During the same quarter in the prior year, the company posted ($0.82) earnings per share.

MYOV has been the subject of a number of research analyst reports. Robert W. Baird reduced their price target on Myovant Sciences from $30.00 to $20.00 in a report on Wednesday, April 13th. StockNews.com began coverage on Myovant Sciences in a research note on Thursday, March 31st. They issued a “hold” rating for the company. Zacks Investment Research downgraded shares of Myovant Sciences from a “hold” rating to a “sell” rating in a research report on Wednesday, March 23rd. Finally, SVB Leerink lowered their price target on shares of Myovant Sciences from $19.00 to $12.00 and set a “market perform” rating for the company in a report on Wednesday, April 13th. One research analyst has rated the stock with a sell rating, five have given a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $22.00.

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 shares were sold at an average price of $13.78, for a total value of $26,485.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, General Counsel Matthew Lang sold 8,002 shares of the firm’s stock in a transaction on Tuesday, April 19th. The shares were sold at an average price of $10.45, for a total transaction of $83,620.90. Following the sale, the general counsel now owns 276,037 shares in the company, valued at approximately $2,884,586.65. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 16,992 shares of company stock valued at $192,079. 5.10% of the stock is currently owned by company insiders.

Large investors have recently modified their holdings of the stock. Credit Suisse AG boosted its stake in shares of Myovant Sciences by 2.3% during the 3rd quarter. Credit Suisse AG now owns 26,642 shares of the company’s stock valued at $598,000 after purchasing an additional 587 shares in the last quarter. Swiss National Bank lifted its stake in shares of Myovant Sciences by 1.0% in the third quarter. Swiss National Bank now owns 80,900 shares of the company’s stock worth $1,815,000 after buying an additional 800 shares in the last quarter. California State Teachers Retirement System raised its holdings in shares of Myovant Sciences by 3.8% during the fourth quarter. California State Teachers Retirement System now owns 31,104 shares of the company’s stock valued at $484,000 after purchasing an additional 1,133 shares during the last quarter. Dark Forest Capital Management LP purchased a new position in shares of Myovant Sciences during the third quarter valued at approximately $32,000. Finally, Virtus ETF Advisers LLC raised its holdings in shares of Myovant Sciences by 15.7% during the fourth quarter. Virtus ETF Advisers LLC now owns 11,289 shares of the company’s stock valued at $176,000 after purchasing an additional 1,534 shares during the last quarter. Institutional investors own 33.78% of the company’s stock.

NYSE:MYOV opened at $9.31 on Friday. The stock’s 50-day simple moving average is $12.38 and its 200 day simple moving average is $15.29. The company has a market cap of $874.21 million, a P/E ratio of -3.77 and a beta of 2.74. Myovant Sciences has a 52-week low of $8.58 and a 52-week high of $27.43.

Myovant Sciences Company Profile (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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