HomeAnalyst RatingsSVB Leerink lowers Myovant Sciences rating to Market Perform and sets...

SVB Leerink lowers Myovant Sciences [MYOV] rating to Market Perform and sets price target at $28

SVB Leerink took its Myovant Sciences [MYOV] rating to the equivalent of Market Perform from Outperform, and the price target to $28.0 from $30, in a research note dated 2021-01-08. That figure represents around a 11.02% premium from where the company’s shares closed on Thursday. Meanwhile, Goldman had launched its coverage on MYOV with “Buy”, in a research note produced for clients August 28, 2019. In addition, SVB Leerink launched coverage on August 19, 2019. The research firm rated MYOV “an Outperform”.

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Is Myovant Sciences Ltd. [NYSE:MYOV] a Good Buy Right Now?

It should be noted that MYOV technical indicators for short, intermediate as well as long term progress have placed an overall average of 100% as Buy. The average signal changed from 100% Buy in the last week and compares with 88% Buy in the past month. Data from Myovant Sciences Ltd.’s Trend Spotter indicated that the signals were Strongest. The stock current average is 1.55 million shares in the past 20 days and the short term average signal indicates a 100% Buy. In the last 50 days, the average trading volume was 1.07 million shares while the medium term average advocated for 100% Buy. The average long-term signal stands at 100% Buy and the 100-day average volume stands at 1.17 million shares.

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MYOV Price Performance

On Wall Street, Myovant Sciences Ltd. [NYSE:MYOV] finished Thursday’s session up 3.96% at $25.18. The stock went up to $25.69 at the same session while its lowest single day price was $24.28. In the last five days, it saw a fall of about -8.57%, Myovant Sciences Ltd. shares dropped by almost -8.83% since the beginning of the year. However, the share price has dropped to as low as -18.51% below its one year high. On 01/04/21, the company shares recorded $27.70, the highest single-day price it has got to in the last 52-weeks and a 52-week low was seen on 01/06/21, the same year at $22.71. The company’s shares have inclined by 76.21% in the past year. The 50-day SMA achieved is $21.37 while the 200-day SMA is $17.15. Volume dropped to 0.92 million from 1.66 million in the previous session.

MYOV Stock Support And Resistance Levels

On the 24-hour scale, the immediate backing is perceived around 24.41 level, and in case of violation of this particular level, it will cause more drop to 23.64 level. On the upper level, 26.46 is still the key resistance. The stock may increase to the subsequent resistance at 25.82. The Relative Strength Index (RSI) pinned on the 14-day chart is 55.08, implying a neutral technical stance while the MACD stands at -0.43, meaning price will decrease in the next trading period. Percent R indicator moved to 66.59%, implying low price movement. Stochastic %K at 25.38% suggest selling the stock.

What is the short interest in Myovant Sciences Ltd.?

Short interest in the Myovant Sciences Ltd. stock has surged, increasing by 1.31 million shares to total 2.77 million shares on Dec 14, 2020. The interest had seen shares on Nov 12, 2020 stand at 4.08 million, data from Yahoo Finance shows. The decrease of -47.29% suggests the stock saw some decreased bullish sentiment. The stock’s days to cover (short ratio) moved to while the shorted shares account for just 6.91% of the overall float for the stock.

Myovant Sciences Ltd.’s Biggest Shareholders: Who Owns Myovant Sciences Ltd. [MYOV]?

Filings by Bellevue Asset Management AG showed that the firm now holds a total of 5,092,000 shares or roughly 5.62% of the outstanding MYOV shares. This means their shares have increased by 445,000 from the 5,092,000 the investor reportedly held in its prior 13-F filing. With the conclusion of the purchase, Janus Capital Management LLC updated stake is worth $94,132,721. Details in the latest 13F filings reveal that Wellington Management Co. LLP acquired their 1.54% stake valued at $52,097,121 while Cormorant Asset Management LP cut theirs at $50,705,443. During the last quarter, Wellington Management Co. LLP raised 33,361 of its shares in Myovant Sciences Ltd. while Cormorant Asset Management LP sold -365,034 shares. The Lord, Abbett & Co. LLC’s holdings currently number 1,824,962 shares at $45952543.16. According to the firm’s last 13F report, Victory Capital Management, Inc. shares in the company at filing stood at 1,783,919 shares, roughly $42,368,076.

MYOV Earnings Forecast For The Current Quarter

Myovant Sciences Ltd. [MYOV] is expected to report strong earnings results for the quarter ending on Dec 2020. Consensus estimates give the company expected revenues of $1.81M and an earnings per share of -$0.85 for Dec 2020. Looking further ahead, the company is expected to report revenue of $5.62M at an EPS of -$0.86 for Mar 2021. The estimates represent 296.20% and 1.80% in the company’s revenue and earnings per share, respectively, on a year-on-year basis.

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MYOV Earnings Estimates For The Current Year

For the financial year, Myovant Sciences Ltd. [NYSE:MYOV] is expected to bring in revenue of $40.69M. In terms of EPS for the 2021, estimate put it at -2.63, higher than that of FY20 by $0.74. Estimates put this year’s earnings growth at 22.00%, -0.40% for the next.

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