Zacks Investment Research upgraded shares of Myovant Sciences (NYSE:MYOV) from a hold rating to a buy rating in a research note issued to investors on Saturday morning, Zacks.com reports. They currently have $8.25 target price on the stock.

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 firms have also weighed in on MYOV. Citigroup initiated coverage on shares of Myovant Sciences in a report on Thursday, May 30th. They set a buy rating and a $25.00 target price for the company. ValuEngine raised shares of Myovant Sciences from a hold rating to a buy rating in a report on Thursday, August 1st. One research analyst has rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. The stock presently has a consensus rating of Buy and a consensus target price of $24.54.

NYSE:MYOV opened at $7.18 on Friday. The company has a debt-to-equity ratio of 1.24, a quick ratio of 3.42 and a current ratio of 3.42. The stock has a market cap of $646.16 million, a price-to-earnings ratio of -1.76 and a beta of 1.05. The company’s 50 day moving average price is $8.11. Myovant Sciences has a 1-year low of $6.60 and a 1-year high of $27.45.

Myovant Sciences (NYSE:MYOV) last posted its earnings results on Tuesday, August 6th. The company reported ($0.89) earnings per share for the quarter, beating the consensus estimate of ($0.95) by $0.06. As a group, equities research analysts forecast that Myovant Sciences will post -3.25 EPS for the current year.

In related news, Director Kathleen Sebelius purchased 5,000 shares of the business’s stock in a transaction that occurred on Wednesday, June 12th. The stock was bought at an average price of $8.96 per share, with a total value of $44,800.00. Following the acquisition, the director now owns 100 shares in the company, valued at $896. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Andrew Lo purchased 2,424,242 shares of the business’s stock in a transaction that occurred on Tuesday, June 4th. The stock was bought at an average cost of $8.25 per share, with a total value of $19,999,996.50. Following the acquisition, the insider now owns 40,765,599 shares in the company, valued at approximately $336,316,191.75. The disclosure for this purchase can be found here. In the last three months, insiders purchased 2,437,242 shares of company stock valued at $20,117,597. 3.00% of the stock is owned by insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. BlackRock Inc. increased its holdings in 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. Tower Research Capital LLC TRC purchased a new stake in shares of Myovant Sciences during the second quarter worth $60,000. Northern Trust Corp purchased a new stake in shares of Myovant Sciences during the second quarter worth $105,000. JPMorgan Chase & Co. grew its holdings in shares of Myovant Sciences by 34.7% during the second quarter. JPMorgan Chase & Co. now owns 112,361 shares of the company’s stock worth $1,039,000 after buying an additional 28,941 shares in the last quarter. Finally, Virtus ETF Advisers LLC purchased a new stake in shares of Myovant Sciences during the second quarter worth $279,000. 26.71% of the stock is owned by institutional investors.

About Myovant Sciences

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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