Wall Street analysts expect Myokardia Inc (NASDAQ:MYOK) to report $5.63 million in sales for the current quarter, Zacks reports. Two analysts have provided estimates for Myokardia’s earnings. Myokardia reported sales of $28.55 million during the same quarter last year, which would suggest a negative year-over-year growth rate of 80.3%. The firm is scheduled to issue its next quarterly earnings results on Monday, March 12th.
According to Zacks, analysts expect that Myokardia will report full year sales of $5.63 million for the current financial year, with estimates ranging from $22.50 million to $25.00 million. For the next year, analysts anticipate that the business will post sales of $31.50 million per share, with estimates ranging from $22.50 million to $40.00 million. Zacks’ sales calculations are an average based on a survey of analysts that follow Myokardia.
Myokardia (NASDAQ:MYOK) last released its quarterly earnings data on Thursday, November 2nd. The biotechnology company reported ($0.42) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.42). Myokardia had a negative return on equity of 14.92% and a negative net margin of 53.49%. The firm had revenue of $5.63 million during the quarter, compared to analyst estimates of $6.10 million. During the same period in the prior year, the company posted ($0.35) earnings per share. The business’s revenue for the quarter was up 58.6% compared to the same quarter last year.
Several research firms have issued reports on MYOK. Wedbush reiterated an “outperform” rating and set a $51.00 price objective on shares of Myokardia in a research note on Wednesday, September 20th. Credit Suisse Group reiterated an “outperform” rating and set a $55.00 price objective (up from $45.00) on shares of Myokardia in a research note on Tuesday, September 19th. Zacks Investment Research lowered Myokardia from a “hold” rating to a “sell” rating in a research note on Wednesday, October 11th. TheStreet lowered Myokardia from a “c” rating to a “d+” rating in a research note on Friday, November 3rd. Finally, BidaskClub upgraded Myokardia from a “sell” rating to a “hold” rating in a research note on Tuesday, December 12th. 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 to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $54.83.
Myokardia (NASDAQ MYOK) traded up $2.50 during trading on Thursday, reaching $41.25. The company’s stock had a trading volume of 344,200 shares, compared to its average volume of 327,085. Myokardia has a 1 year low of $10.55 and a 1 year high of $49.55.
In other news, major shareholder Rock Ventures Ii L.P. Third sold 201,400 shares of the stock in a transaction on Monday, September 25th. The stock was sold at an average price of $43.00, for a total transaction of $8,660,200.00. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Kevin P. Starr sold 601,400 shares of the stock in a transaction 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. Insiders have sold 1,286,713 shares of company stock worth $55,102,695 in the last 90 days. Company insiders own 33.40% of the company’s stock.
Several hedge funds have recently made changes to their positions in the company. GSA Capital Partners LLP bought a new stake in shares of Myokardia during the third quarter worth $1,478,000. Cubist Systematic Strategies LLC bought a new stake in shares of Myokardia during the third quarter worth $355,000. RTW Investments LP bought a new position in Myokardia in the third quarter valued at about $10,882,000. VHCP Management II LLC bought a new position in Myokardia in the third quarter valued at about $11,355,000. Finally, Dimensional Fund Advisors LP bought a new position in Myokardia in the third quarter valued at about $212,000. Institutional investors own 63.61% of the company’s stock.
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Myokardia Company Profile
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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