Wall Street brokerages predict that Myokardia Inc (NASDAQ:MYOK) will post sales of $7.82 million for the current quarter, according to Zacks Investment Research. Two analysts have issued estimates for Myokardia’s earnings, with the highest sales estimate coming in at $10.00 million and the lowest estimate coming in at $5.63 million. Myokardia posted sales of $5.63 million during the same quarter last year, which would indicate a positive year over year growth rate of 38.9%. The business is scheduled to announce its next quarterly earnings report on Tuesday, May 8th.
According to Zacks, analysts expect that Myokardia will report full-year sales of $7.82 million for the current year, with estimates ranging from $22.50 million to $40.00 million. For the next year, analysts expect that the firm will report sales of $37.00 million per share, with estimates ranging from $24.00 million to $50.00 million. Zacks’ sales calculations are a mean average based on a survey of analysts that cover Myokardia.
Myokardia (NASDAQ:MYOK) last announced its quarterly earnings data on Thursday, March 8th. The biotechnology company reported ($0.21) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.41) by $0.20. The company had revenue of $5.60 million during the quarter, compared to analyst estimates of $5.63 million. Myokardia had a negative net margin of 204.48% and a negative return on equity of 24.58%.
Several research firms recently commented on MYOK. Zacks Investment Research upgraded shares of Myokardia from a “hold” rating to a “buy” rating and set a $59.00 price target for the company in a report on Tuesday, March 13th. Credit Suisse Group raised their price target on shares of Myokardia from $60.00 to $68.00 and gave the stock an “outperform” rating in a report on Friday, March 9th. BMO Capital Markets raised their price target on shares of Myokardia from $65.00 to $83.00 and gave the stock an “outperform” rating in a report on Friday, March 9th. Cowen restated a “buy” rating and set a $56.00 price target on shares of Myokardia in a report on Friday, March 9th. Finally, Wedbush raised their price target on shares of Myokardia from $51.00 to $69.00 and gave the stock an “outperform” rating in a report on Friday, March 9th. Three equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $62.43.
Shares of MYOK stock traded down $1.85 on Thursday, hitting $48.65. 700,513 shares of the stock traded hands, compared to its average volume of 473,378. The firm has a market cap of $1,747.70, a PE ratio of -34.50 and a beta of 3.35. Myokardia has a 12 month low of $10.80 and a 12 month high of $62.83.
In other Myokardia news, Director Kevin P. Starr sold 816,326 shares of Myokardia stock in a transaction that occurred on 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 legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Anastasios Gianakakos sold 3,000 shares of Myokardia stock in a transaction that occurred on 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 $21,042,887.53. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 848,326 shares of company stock valued at $35,859,872. 33.40% of the stock is currently owned by corporate insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of MYOK. Wells Fargo & Company MN lifted its stake in Myokardia by 2.5% in the second quarter. Wells Fargo & Company MN now owns 18,539 shares of the biotechnology company’s stock valued at $243,000 after acquiring an additional 455 shares during the last quarter. Alliancebernstein L.P. acquired a new stake in Myokardia in the second quarter valued at approximately $148,000. Teachers Advisors LLC lifted its stake in Myokardia by 40.0% in the second quarter. Teachers Advisors LLC now owns 30,667 shares of the biotechnology company’s stock valued at $402,000 after acquiring an additional 8,766 shares during the last quarter. Nationwide Fund Advisors lifted its stake in Myokardia by 36.3% in the second quarter. Nationwide Fund Advisors now owns 9,729 shares of the biotechnology company’s stock valued at $127,000 after acquiring an additional 2,591 shares during the last quarter. Finally, New York State Common Retirement Fund lifted its stake in Myokardia by 61.6% in the second quarter. New York State Common Retirement Fund now owns 18,893 shares of the biotechnology company’s stock valued at $247,000 after acquiring an additional 7,199 shares during the last quarter. Hedge funds and other institutional investors own 83.91% of the company’s stock.
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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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