Myokardia (MYOK) Upgraded at BidaskClub

Myokardia (NASDAQ:MYOK) was upgraded by equities researchers at BidaskClub from a “sell” rating to a “hold” rating in a report issued on Tuesday, December 26th.

Several other brokerages also recently weighed in on MYOK. Credit Suisse Group reaffirmed an “outperform” rating and set a $55.00 price target (up previously from $45.00) on shares of Myokardia in a report on Tuesday, September 19th. TheStreet cut shares of Myokardia from a “c” rating to a “d+” rating in a research report on Friday, November 3rd. Zacks Investment Research cut shares of Myokardia from a “hold” rating to a “sell” rating in a research report on Wednesday, October 11th. Wedbush reiterated an “outperform” rating and set a $51.00 price objective on shares of Myokardia in a research report on Wednesday, September 20th. Finally, JPMorgan Chase & Co. began coverage on shares of Myokardia in a research report on Tuesday, December 12th. They set an “overweight” rating and a $54.00 price objective on the stock. Two analysts have rated the stock with a sell rating, one has issued a hold rating and six have assigned a buy rating to the company’s stock. Myokardia currently has a consensus rating of “Hold” and an average target price of $54.83.

Myokardia (NASDAQ:MYOK) opened at $52.90 on Tuesday. The stock has a market cap of $1,890.00 and a P/E ratio of -71.49. Myokardia has a 1-year low of $10.55 and a 1-year high of $53.25.

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

In related news, Director Kevin P. Starr sold 816,326 shares of the company’s stock in a transaction dated Wednesday, January 3rd. The shares were sold at an average price of $42.00, for a total value of $34,285,692.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Anastasios Gianakakos sold 4,300 shares of the company’s stock in a transaction dated Monday, November 6th. The stock was sold at an average price of $40.23, for a total transaction of $172,989.00. Following the completion of the sale, the chief executive officer now directly owns 513,417 shares of the company’s stock, valued at $20,654,765.91. The disclosure for this sale can be found here. Insiders have sold 836,626 shares of company stock valued at $35,146,501 over the last three months. Insiders own 33.40% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its holdings in Myokardia by 8.9% in the first quarter. Vanguard Group Inc. now owns 686,119 shares of the biotechnology company’s stock worth $9,022,000 after purchasing an additional 55,927 shares in the last quarter. Hershey Trust Co. raised its holdings in Myokardia by 26.0% in the third quarter. Hershey Trust Co. now owns 20,064 shares of the biotechnology company’s stock worth $860,000 after purchasing an additional 4,145 shares in the last quarter. EAM Investors LLC bought a new position in Myokardia in the third quarter worth about $4,216,000. Wells Fargo & Company MN raised its holdings in Myokardia by 2,151.7% in the third quarter. Wells Fargo & Company MN now owns 417,439 shares of the biotechnology company’s stock worth $17,887,000 after purchasing an additional 398,900 shares in the last quarter. Finally, Northern Trust Corp raised its holdings in Myokardia by 31.9% in the second quarter. Northern Trust Corp now owns 202,983 shares of the biotechnology company’s stock worth $2,658,000 after purchasing an additional 49,044 shares in the last quarter. 63.61% of the stock is owned by institutional investors.

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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.

Analyst Recommendations for Myokardia (NASDAQ:MYOK)

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