Myokardia Inc (NASDAQ:MYOK) – Wedbush issued their FY2022 earnings per share estimates for shares of Myokardia in a research report issued to clients and investors on Friday. Wedbush analyst D. Nierengarten forecasts that the biotechnology company will post earnings per share of $11.57 for the year. Wedbush currently has a “Outperform” rating and a $69.00 target price on the stock.
Other equities research analysts have also issued research reports about the company. Zacks Investment Research lowered Myokardia from a “buy” rating to a “hold” rating in a research report on Wednesday. ValuEngine raised Myokardia from a “sell” rating to a “hold” rating in a research report on Friday, February 2nd. BidaskClub lowered Myokardia from a “buy” rating to a “hold” rating in a research report on Friday, March 9th. BMO Capital Markets raised their target price on Myokardia from $65.00 to $83.00 and gave the stock an “outperform” rating in a research report on Friday, March 9th. Finally, Credit Suisse Group raised their target price on Myokardia from $60.00 to $68.00 and gave the stock an “outperform” rating in a research report on Friday, March 9th. Three equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The stock has an average rating of “Buy” and an average price target of $62.43.
Shares of Myokardia (MYOK) traded up $3.40 during midday trading on Monday, hitting $53.25. The stock had a trading volume of 793,804 shares, compared to its average volume of 440,584. Myokardia has a 1-year low of $10.80 and a 1-year high of $62.83.
Myokardia (NASDAQ:MYOK) last announced its quarterly earnings data on Thursday, March 8th. The biotechnology company reported ($0.21) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.41) by $0.20. Myokardia had a negative return on equity of 24.58% and a negative net margin of 204.48%. The business had revenue of $5.60 million during the quarter, compared to analysts’ expectations of $5.63 million.
In other Myokardia news, insider Jake Bauer sold 5,000 shares of Myokardia stock in a transaction that occurred on Tuesday, January 2nd. The stock was sold at an average price of $42.89, for a total transaction of $214,450.00. Following the transaction, the insider now owns 62,877 shares of the company’s stock, valued at $2,696,794.53. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Anastasios Gianakakos sold 3,000 shares of Myokardia stock in a transaction that occurred on Thursday, December 21st. The stock was sold at an average price of $41.09, for a total value of $123,270.00. Following the transaction, the insider now directly owns 512,117 shares in the company, valued at approximately $21,042,887.53. The disclosure for this sale can be found here. Insiders have sold a total of 848,326 shares of company stock worth $35,859,872 in the last three months. Corporate insiders own 33.40% of the company’s stock.
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Nationwide Fund Advisors increased its position in Myokardia by 36.3% during the second quarter. Nationwide Fund Advisors now owns 9,729 shares of the biotechnology company’s stock worth $127,000 after buying an additional 2,591 shares during the period. Alliancebernstein L.P. acquired a new position in Myokardia during the second quarter worth approximately $148,000. SG Americas Securities LLC acquired a new position in Myokardia during the fourth quarter worth approximately $185,000. The Manufacturers Life Insurance Company increased its position in Myokardia by 38.8% during the second quarter. The Manufacturers Life Insurance Company now owns 15,073 shares of the biotechnology company’s stock worth $198,000 after buying an additional 4,215 shares during the period. Finally, Quantbot Technologies LP acquired a new position in Myokardia during the third quarter worth approximately $202,000. 83.91% of the stock is currently owned by institutional investors.
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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