Myovant Sciences Ltd (NYSE:MYOV) Expected to Announce Earnings of -$0.95 Per Share

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Equities analysts expect that Myovant Sciences Ltd (NYSE:MYOV) will post earnings per share (EPS) of ($0.95) for the current quarter, according to Zacks Investment Research. Zero analysts have made estimates for Myovant Sciences’ earnings, with the lowest EPS estimate coming in at ($0.98) and the highest estimate coming in at ($0.92). Myovant Sciences posted earnings per share of ($0.98) in the same quarter last year, which suggests a positive year over year growth rate of 3.1%. The company is scheduled to issue its next earnings results on Tuesday, August 6th.

On average, analysts expect that Myovant Sciences will report full year earnings of ($3.65) per share for the current year, with EPS estimates ranging from ($3.80) to ($3.37). For the next year, analysts expect that the firm will report earnings of ($3.43) per share, with EPS estimates ranging from ($3.77) to ($3.10). 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 Friday, May 24th. The company reported ($1.07) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($1.02) by ($0.05).

MYOV has been the subject of several recent analyst reports. Zacks Investment Research cut shares of Genprex from a “hold” rating to a “sell” rating in a research report on Thursday, April 18th. Evercore ISI initiated coverage on Homology Medicines in a research note on Thursday, April 11th. They set an “outperform” rating and a $29.00 target price for the company. ValuEngine raised Yandex from a “hold” rating to a “buy” rating in a research note on Saturday, April 13th. Finally, Citigroup set a $14.00 target price on Coty and gave the stock a “hold” rating in a research note on Thursday, May 30th. Two investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Myovant Sciences currently has a consensus rating of “Buy” and an average price target of $26.83.

MYOV traded down $0.19 on Thursday, hitting $7.98. 81,485 shares of the stock were exchanged, compared to its average volume of 172,239. Myovant Sciences has a 12 month low of $8.08 and a 12 month high of $27.45. The company has a 50-day moving average of $8.97. The company has a quick ratio of 2.32, a current ratio of 2.32 and a debt-to-equity ratio of 21.51. The firm has a market capitalization of $573.27 million, a price-to-earnings ratio of -1.94 and a beta of 1.07.

In other news, major shareholder Andrew Lo acquired 2,424,242 shares of the stock in a transaction dated Tuesday, June 4th. The stock was bought at an average price of $8.25 per share, with a total value of $19,999,996.50. Following the completion of the purchase, the insider now directly owns 40,765,599 shares of the company’s stock, valued at approximately $336,316,191.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Kathleen Sebelius acquired 5,000 shares of the stock in a transaction dated Wednesday, June 12th. The stock was purchased at an average cost of $8.96 per share, with a total value of $44,800.00. Following the purchase, the director now directly owns 100 shares of the company’s stock, valued at $896. The disclosure for this purchase can be found here. In the last three months, insiders have acquired 2,437,242 shares of company stock valued at $20,117,597. Insiders own 3.70% of the company’s stock.

Institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. increased its stake in shares of Myovant Sciences by 5.2% in the fourth quarter. BlackRock Inc. now owns 27,912 shares of the company’s stock valued at $458,000 after buying an additional 1,386 shares during the period. Bank of New York Mellon Corp increased its position in Myovant Sciences by 3,012.4% during the 4th quarter. Bank of New York Mellon Corp now owns 369,320 shares of the company’s stock valued at $6,060,000 after purchasing an additional 357,454 shares during the period. Norges Bank acquired a new stake in Myovant Sciences during the 4th quarter valued at approximately $12,308,000. Finally, Victory Capital Management Inc. acquired a new stake in Myovant Sciences during the 1st quarter valued at approximately $20,104,000. 30.56% 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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