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.
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