Baird Starts Myovant Sciences Ltd. (MYOV) at Outperform
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Baird initiates coverage on Myovant Sciences Ltd. (NYSE: MYOV) with a Outperform rating and a price target of $20.00.
Analyst Brian Skorney commented, "Myovant's lead asset, relugolix, in-licensed from Takeda in April, draws similarities to AbbVie's/Neurocrine's potential blockbuster, elagolix. Relugolix has a few potential advantages over existing therapies, a validated mechanism of action, and eyes set on three significant market opportunities. With the drug entering global Phase 3 trials in the next few months and Japanese Phase 3 data expected in 2H17 from licensor Takeda, 2017 could be a pivotal year for Myovant. We are initiating at a $20 price target."
Shares of Myovant Sciences Ltd. closed at $11.25 yesterday.
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