Why Myovant Sciences Stock Is Rising Today

Shares of Myovant Sciences (NYSE: MYOV) are rising today, up by 12% as of 3:03 p.m. EST, after receiving some favorable coverage from the analyst community. The clinical-stage biotech skyrocketed earlier in the week in the wake of strong results in a phase 3 drug trial.

First, Goldman Sachs Group reiterated its buy rating on Myovant and boosted its price target from $18 to $20. Not to be outdone, JMP Securities also reaffirmed its buy rating and has an even more bullish price target of $34. Both of these targets are significantly higher than Thursday's closing price of $12.43.

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Source Fool.com