Myokardia Inc (NASDAQ:MYOK) has received an average rating of “Hold” from the ten research firms that are presently covering the firm, MarketBeat reports. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and six have issued a buy rating on the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $54.83.
A number of analysts have recently commented on the stock. BidaskClub cut shares of Myokardia from a “hold” rating to a “sell” rating in a research note on Wednesday, December 20th. Zacks Investment Research raised shares of Myokardia from a “sell” rating to a “hold” rating in a research note on Tuesday, October 17th. ValuEngine cut shares of Myokardia from a “hold” rating to a “sell” rating in a research note on Friday, December 1st. JPMorgan Chase & Co. assumed coverage on shares of Myokardia in a research note on Tuesday, December 12th. They set an “overweight” rating and a $54.00 target price for the company. Finally, Wedbush reissued an “outperform” rating and set a $51.00 target price on shares of Myokardia in a research note on Wednesday, September 20th.
In related news, insider Anastasios Gianakakos sold 3,000 shares of the company’s stock in a transaction dated Thursday, December 21st. The shares were sold at an average price of $41.09, for a total transaction of $123,270.00. Following the completion of the sale, the insider now owns 512,117 shares of the company’s stock, valued at approximately $21,042,887.53. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Jake Bauer sold 5,000 shares of the company’s stock in a transaction dated Tuesday, January 2nd. The shares were sold at an average price of $42.89, for a total transaction of $214,450.00. Following the sale, the insider now directly owns 62,877 shares of the company’s stock, valued at approximately $2,696,794.53. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 836,626 shares of company stock valued at $35,146,501. 33.40% of the stock is owned by corporate insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Hershey Trust Co. grew its stake in Myokardia by 26.0% during the 3rd quarter. Hershey Trust Co. now owns 20,064 shares of the biotechnology company’s stock valued at $860,000 after acquiring an additional 4,145 shares in the last quarter. EAM Investors LLC purchased a new stake in Myokardia during the 3rd quarter valued at about $4,216,000. Wells Fargo & Company MN grew its stake in Myokardia by 2,151.7% during the 3rd quarter. Wells Fargo & Company MN now owns 417,439 shares of the biotechnology company’s stock valued at $17,887,000 after acquiring an additional 398,900 shares in the last quarter. Northern Trust Corp grew its stake in Myokardia by 31.9% during the 2nd quarter. Northern Trust Corp now owns 202,983 shares of the biotechnology company’s stock valued at $2,658,000 after acquiring an additional 49,044 shares in the last quarter. Finally, Fernwood Investment Management LLC grew its stake in Myokardia by 409.1% during the 3rd quarter. Fernwood Investment Management LLC now owns 246,382 shares of the biotechnology company’s stock valued at $10,557,000 after acquiring an additional 197,989 shares in the last quarter. 63.61% of the stock is owned by institutional investors.
Myokardia (NASDAQ MYOK) traded up $3.30 during mid-day trading on Tuesday, hitting $52.90. 702,271 shares of the stock were exchanged, compared to its average volume of 471,680. The stock has a market capitalization of $1,890.00 and a PE ratio of -71.49. Myokardia has a twelve month low of $10.55 and a twelve month high of $53.25.
Myokardia (NASDAQ:MYOK) last released its earnings results on Thursday, November 2nd. The biotechnology company reported ($0.42) EPS for the quarter, hitting analysts’ consensus estimates of ($0.42). The business had revenue of $5.63 million during the quarter, compared to analysts’ expectations of $6.10 million. Myokardia had a negative net margin of 53.49% and a negative return on equity of 14.92%. The company’s quarterly revenue was up 58.6% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.35) earnings per share. analysts predict that Myokardia will post -1.62 earnings per share for the current year.
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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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