MYOV - Myovant Sciences' FDA win leads to Bullish views at Baird

Baird raises the price target for Myovant Sciences (MYOV) to $30 from $24 after the company’s ORGOVYX™ (relugolix), an oral treatment for advanced prostate cancer in adults, won FDA approval.The market launch expected in January 2021 for the first and only oral gonadotropin-releasing hormone receptor antagonist is ‘particularly relevant given the current state of the pandemic,’ write the analysts led by Brian P. Skorney.With other gonadotropin-releasing hormone receptor antagonists delivered via injections, the ‘oral medications may appear even more attractive than normal’ notes the analysts, citing the pandemic-driven social distancing requirements that limit the physician-patient interaction.Reasoning out why relugolix was heading for FDA approval, Seeking Alpha, Market Place contributor, BioSci Capital Partners, in a November article expected a rebound in share price after a short pullback.

For further details see:

Myovant Sciences’ FDA win leads to Bullish views at Baird