Myokardia (NASDAQ:MYOK) Downgraded to “Sell” at ValuEngine

ValuEngine cut shares of Myokardia (NASDAQ:MYOK) from a hold rating to a sell rating in a research report released on Friday, December 1st.

Other equities research analysts have also recently issued reports about the stock. BMO Capital Markets restated a buy rating and set a $45.00 price objective (up from $32.00) on shares of Myokardia in a research note on Tuesday, August 8th. Zacks Investment Research upgraded shares of Myokardia from a sell rating to a hold rating in a research report on Tuesday, October 17th. TheStreet cut shares of Myokardia from a c rating to a d+ rating in a research report on Friday, November 3rd. Wedbush reiterated an outperform rating and issued a $51.00 price target on shares of Myokardia in a research report on Wednesday, September 20th. Finally, Credit Suisse Group reissued an outperform rating and issued a $55.00 price target (up previously from $45.00) on shares of Myokardia in a research note on Tuesday, September 19th. One investment analyst has rated the stock with a sell rating, one has given a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. Myokardia currently has an average rating of Buy and a consensus target price of $55.00.

Myokardia (NASDAQ MYOK) opened at $39.25 on Friday. Myokardia has a 1-year low of $10.55 and a 1-year high of $49.55.

Myokardia (NASDAQ:MYOK) last posted its earnings results on Thursday, November 2nd. The biotechnology company reported ($0.42) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.42). Myokardia had a negative return on equity of 14.92% and a negative net margin of 53.49%. The company had revenue of $5.63 million for the quarter, compared to analysts’ expectations of $6.10 million. During the same period last year, the business posted ($0.35) earnings per share. The firm’s quarterly revenue was up 58.6% compared to the same quarter last year. equities research analysts predict that Myokardia will post -1.62 earnings per share for the current fiscal year.

In related news, insider Anastasios Gianakakos sold 4,300 shares of the business’s stock in a transaction that occurred on Wednesday, October 4th. The stock was sold at an average price of $40.86, for a total value of $175,698.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Kevin P. Starr sold 601,400 shares of the business’s stock in a transaction that occurred on Tuesday, September 26th. The stock was sold at an average price of $43.00, for a total value of $25,860,200.00. The disclosure for this sale can be found here. In the last three months, insiders sold 1,286,713 shares of company stock valued at $55,102,695. 33.40% of the stock is currently owned by company insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of MYOK. Vanguard Group Inc. lifted its holdings in shares of Myokardia by 8.9% during the first quarter. Vanguard Group Inc. now owns 686,119 shares of the biotechnology company’s stock worth $9,022,000 after buying an additional 55,927 shares during the last quarter. Hershey Trust Co. lifted its holdings in shares of Myokardia by 26.0% during the third quarter. Hershey Trust Co. now owns 20,064 shares of the biotechnology company’s stock worth $860,000 after buying an additional 4,145 shares during the last quarter. EAM Investors LLC acquired a new position in shares of Myokardia during the third quarter worth approximately $4,216,000. Fernwood Investment Management LLC lifted its holdings in shares of Myokardia by 409.1% during the third quarter. Fernwood Investment Management LLC now owns 246,382 shares of the biotechnology company’s stock worth $10,557,000 after buying an additional 197,989 shares during the last quarter. Finally, Swiss National Bank lifted its holdings in shares of Myokardia by 25.7% during the second quarter. Swiss National Bank now owns 31,790 shares of the biotechnology company’s stock worth $416,000 after buying an additional 6,500 shares during the last quarter. Hedge funds and other institutional investors own 63.61% of the company’s stock.

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About Myokardia

MyoKardia, Inc is a clinical-stage biopharmaceutical company. The Company focuses on the treatment of heritable cardiomyopathies, a group of rare, genetically-driven forms of heart failure that result from biomechanical defects in cardiac muscle contraction. The Company is engaged in the business of developing and commercializing therapeutics.

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Analyst Recommendations for Myokardia (NASDAQ:MYOK)

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