Zacks Investment Research Upgrades Myovant Sciences (MYOV) to “Hold”

Zacks Investment Research upgraded shares of Myovant Sciences (NYSE:MYOV) from a sell rating to a hold rating in a research note released on Wednesday.

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 equities analysts also recently issued reports on MYOV. Robert W. Baird reissued a buy rating and set a $20.00 price target on shares of Myovant Sciences in a report on Wednesday, October 4th. Cowen reissued a buy rating on shares of Myovant Sciences in a report on Tuesday, November 14th. Finally, JMP Securities reissued an outperform rating and set a $25.00 price target (up from $23.00) on shares of Myovant Sciences in a report on Wednesday, October 4th. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. The stock presently has an average rating of Buy and a consensus target price of $22.50.

Shares of Myovant Sciences (NYSE:MYOV) traded down $0.29 during mid-day trading on Wednesday, reaching $13.50. 24,694 shares of the company traded hands, compared to its average volume of 31,502. Myovant Sciences has a 12-month low of $9.92 and a 12-month high of $18.85. The company has a market cap of $823.33 and a P/E ratio of -9.57.

Myovant Sciences (NYSE:MYOV) last announced its quarterly earnings results on Monday, November 13th. The company reported ($0.50) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.38) by ($0.12). equities research analysts expect that Myovant Sciences will post -1.74 EPS for the current year.

A number of hedge funds have recently made changes to their positions in MYOV. Goldman Sachs Group Inc. bought a new position in Myovant Sciences during the 2nd quarter valued at about $174,000. Swiss National Bank acquired a new stake in Myovant Sciences in the 2nd quarter valued at about $294,000. OxFORD Asset Management LLP increased its position in Myovant Sciences by 15.4% in the 2nd quarter. OxFORD Asset Management LLP now owns 29,745 shares of the company’s stock valued at $348,000 after acquiring an additional 3,971 shares in the last quarter. Susquehanna International Group LLP acquired a new stake in Myovant Sciences in the 2nd quarter valued at about $648,000. Finally, Point72 Asset Management L.P. acquired a new stake in Myovant Sciences in the 3rd quarter valued at about $1,255,000. 79.21% of the stock is owned by hedge funds and other institutional investors.

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About Myovant Sciences

Myovant Sciences Ltd. is a clinical-stage biopharmaceutical company focused on developing and commercializing therapies for women’s health diseases and other endocrine-related disorders. Its main product candidate is Relugolix. Relugolix is an oral, once-daily, small molecule that acts as a gonadotropin-releasing hormone (GnRH) receptor antagonist that binds to and inhibits receptors in the anterior pituitary gland.

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