Zacks: Analysts Expect Myovant Sciences Ltd (NYSE:MYOV) to Announce -$0.78 EPS

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Brokerages expect that Myovant Sciences Ltd (NYSE:MYOV) will post earnings per share of ($0.78) for the current quarter, according to Zacks. Zero analysts have made estimates for Myovant Sciences’ earnings, with estimates ranging from ($0.87) to ($0.71). Myovant Sciences posted earnings of ($0.79) per share during the same quarter last year, which suggests a positive year-over-year growth rate of 1.3%. The firm is scheduled to announce its next earnings results on Tuesday, November 10th.

On average, analysts expect that Myovant Sciences will report full year earnings of ($2.82) per share for the current year, with EPS estimates ranging from ($3.09) to ($2.55). For the next fiscal year, analysts expect that the company will post earnings of ($2.82) per share, with EPS estimates ranging from ($3.52) to ($1.55). Zacks’ earnings per share averages are an average based on a survey of sell-side research firms that follow Myovant Sciences.

Myovant Sciences (NYSE:MYOV) last posted its quarterly earnings data on Tuesday, August 11th. The company reported ($0.37) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.68) by $0.31.

A number of research analysts recently issued reports on the stock. JPMorgan Chase & Co. boosted their target price on shares of Myovant Sciences from $19.00 to $26.00 and gave the company an “overweight” rating in a research report on Monday, June 1st. SVB Leerink decreased their target price on shares of Myovant Sciences from $29.00 to $28.00 and set an “outperform” rating for the company in a research report on Wednesday, August 12th. Citigroup boosted their target price on shares of Myovant Sciences from $9.00 to $20.00 and gave the company a “neutral” rating in a research report on Tuesday, June 2nd. ValuEngine upgraded shares of Myovant Sciences from a “hold” rating to a “buy” rating in a research report on Thursday, August 27th. Finally, Evercore ISI boosted their target price on shares of Myovant Sciences from $45.00 to $55.00 and gave the company a “positive” rating in a research report on Tuesday, June 23rd. Two equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $27.36.

In other news, insider Frank Karbe sold 24,800 shares of the business’s stock in a transaction dated Monday, August 31st. The shares were sold at an average price of $20.02, for a total transaction of $496,496.00. Following the completion of the sale, the insider now owns 149,333 shares of the company’s stock, valued at $2,989,646.66. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, General Counsel Matthew Lang sold 2,700 shares of the business’s stock in a transaction dated Friday, August 28th. The stock was sold at an average price of $20.02, for a total transaction of $54,054.00. Following the sale, the general counsel now directly owns 145,965 shares of the company’s stock, valued at approximately $2,922,219.30. The disclosure for this sale can be found here. In the last quarter, insiders sold 61,712 shares of company stock valued at $1,236,146. Insiders own 3.90% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in MYOV. FMR LLC increased its stake in shares of Myovant Sciences by 340.5% during the second quarter. FMR LLC now owns 2,881,140 shares of the company’s stock worth $59,409,000 after purchasing an additional 2,227,134 shares in the last quarter. Cormorant Asset Management LP grew its stake in Myovant Sciences by 30.0% during the 1st quarter. Cormorant Asset Management LP now owns 2,600,000 shares of the company’s stock valued at $19,630,000 after acquiring an additional 600,000 shares in the last quarter. Morgan Stanley grew its stake in Myovant Sciences by 1,243.4% during the 1st quarter. Morgan Stanley now owns 500,851 shares of the company’s stock valued at $3,781,000 after acquiring an additional 463,570 shares in the last quarter. Ikarian Capital LLC purchased a new stake in Myovant Sciences during the 1st quarter valued at about $3,398,000. Finally, Gilder Gagnon Howe & Co. LLC purchased a new stake in Myovant Sciences during the 2nd quarter valued at about $3,786,000. 35.63% of the stock is owned by institutional investors and hedge funds.

NYSE MYOV traded up $0.50 on Tuesday, reaching $19.94. 1,007,400 shares of the company’s stock traded hands, compared to its average volume of 805,831. The firm has a market cap of $1.80 billion, a price-to-earnings ratio of -7.00 and a beta of 2.49. The stock has a 50 day moving average price of $17.54 and a 200-day moving average price of $13.94. Myovant Sciences has a fifty-two week low of $4.14 and a fifty-two week high of $22.07.

Myovant Sciences Company Profile

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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