Myovant Sciences (NYSE:MYOV) Stock Price Up 11.7%

Myovant Sciences Ltd (NYSE:MYOV) rose 11.7% during trading on Monday . The stock traded as high as $8.12 and last traded at $7.82, approximately 316,017 shares traded hands during trading. An increase of 59% from the average daily volume of 199,367 shares. The stock had previously closed at $7.00.

MYOV has been the subject of several analyst reports. Zacks Investment Research raised Myovant Sciences from a “hold” rating to a “buy” rating and set a $8.25 target price for the company in a report on Saturday, August 10th. ValuEngine raised Myovant Sciences from a “hold” rating to a “buy” rating in a research report on Thursday, August 1st. Leerink Swann assumed coverage on Myovant Sciences in a research report on Monday. They set an “outperform” rating and a $26.00 price target on the stock. Svb Leerink assumed coverage on Myovant Sciences in a research report on Monday. They set an “outperform” rating and a $26.00 price target on the stock. Finally, Citigroup assumed coverage on Myovant Sciences in a research report on Thursday, May 30th. They set a “buy” rating and a $25.00 price target on the stock. One investment analyst has rated the stock with a hold rating and ten have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $24.91.

The stock has a market capitalization of $627.36 million, a price-to-earnings ratio of -1.94 and a beta of 1.05. The company has a quick ratio of 3.42, a current ratio of 3.42 and a debt-to-equity ratio of 1.24. The firm has a 50-day moving average of $7.84 and a two-hundred day moving average of $15.01.

Myovant Sciences (NYSE:MYOV) last issued its earnings results on Tuesday, August 6th. The company reported ($0.89) earnings per share for the quarter, topping the consensus estimate of ($0.95) by $0.06. As a group, sell-side analysts predict that Myovant Sciences Ltd will post -3.03 EPS for the current year.

In other news, major shareholder Andrew Lo bought 2,424,242 shares of the company’s stock in a transaction on Tuesday, June 4th. The shares were bought at an average cost of $8.25 per share, with a total value of $19,999,996.50. Following the transaction, the insider now directly owns 40,765,599 shares in the company, valued at approximately $336,316,191.75. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Kathleen Sebelius acquired 5,000 shares of the stock in a transaction dated Wednesday, June 12th. The shares were bought at an average cost of $8.96 per share, for a total transaction of $44,800.00. Following the acquisition, the director now owns 100 shares in the company, valued at approximately $896. The disclosure for this purchase can be found here. Over the last ninety days, insiders acquired 2,437,242 shares of company stock worth $20,117,597. Insiders own 3.00% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of MYOV. Tower Research Capital LLC TRC acquired a new position in shares of Myovant Sciences during the 2nd quarter valued at about $60,000. Northern Trust Corp acquired a new position in shares of Myovant Sciences during the 2nd quarter valued at about $105,000. OneAscent Financial Services LLC acquired a new position in shares of Myovant Sciences during the 2nd quarter valued at about $172,000. Virtus ETF Advisers LLC acquired a new position in shares of Myovant Sciences during the 2nd quarter valued at about $279,000. Finally, Cubist Systematic Strategies LLC acquired a new position in shares of Myovant Sciences during the 2nd quarter valued at about $330,000. 26.79% of the stock is currently owned by institutional investors and hedge funds.

About Myovant Sciences (NYSE:MYOV)

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.

Recommended Story: What is Cost of Goods Sold (COGS)?

Receive News & Ratings for Myovant Sciences Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Myovant Sciences and related companies with MarketBeat.com's FREE daily email newsletter.