Zacks Investment Research upgraded shares of MyoKardia, Inc. (NASDAQ:MYOK) from a sell rating to a hold rating in a research report released on Tuesday, October 17th.
According to Zacks, “MyoKardia, Inc. is a biopharmaceutical company. The company focuses on discovering, developing, and commercializing therapies for the treatment of serious and neglected rare cardiovascular diseases. Its product candidate consists of MYK-461, a small molecule to reduce excessive cardiac muscle contractility leading to hypertrophic cardiomyopathy, DCM-1, treats heritable dilated cardiomyopathy by restoring normal contractility in the diseased DCM heart, HCM-2, a product candidate to reduce cardiac muscle contractility to normal levels in HCM patients and LUS-1, which is intended to counteract a muscle disruption that results in impaired relaxation of the heart, which are in different clinical trial. MyoKardia, Inc. is headquartered in San Francisco, California. “
Several other analysts have also commented on MYOK. TheStreet raised shares of MyoKardia from a d+ rating to a c rating in a research note on Thursday, July 6th. BidaskClub raised shares of MyoKardia from a buy rating to a strong-buy rating in a research note on Saturday, August 5th. Wells Fargo & Company restated an outperform rating and set a $48.00 price target (up previously from $31.00) on shares of MyoKardia in a report on Monday, August 7th. ValuEngine upgraded shares of MyoKardia from a sell rating to a hold rating in a report on Monday, August 7th. Finally, Cowen and Company upped their price objective on shares of MyoKardia from $28.00 to $56.00 and gave the company an outperform rating in a research note on Monday, August 7th. Two analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. MyoKardia has a consensus rating of Buy and a consensus target price of $55.00.
MyoKardia (NASDAQ:MYOK) traded down 0.14% on Tuesday, reaching $36.95. The company’s stock had a trading volume of 36,402 shares. The firm’s market capitalization is $1.16 billion. The company has a 50 day moving average of $41.69 and a 200 day moving average of $41.69. MyoKardia has a 52 week low of $10.55 and a 52 week high of $49.55.
MyoKardia (NASDAQ:MYOK) last issued its quarterly earnings results on Monday, August 7th. The biotechnology company reported ($0.41) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.37) by ($0.04). MyoKardia had a negative return on equity of 16.35% and a negative net margin of 44.65%. The company had revenue of $5.60 million during the quarter, compared to analyst estimates of $6.73 million. During the same period in the prior year, the company posted ($0.37) earnings per share. The company’s revenue was up 60.0% on a year-over-year basis. On average, analysts forecast that MyoKardia will post ($1.63) earnings per share for the current year.
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In other MyoKardia news, CEO Anastasios Gianakakos sold 4,300 shares of the stock in a transaction on Friday, August 4th. The shares were sold at an average price of $16.62, for a total value of $71,466.00. Following the completion of the sale, the chief executive officer now directly owns 512,463 shares of the company’s stock, valued at approximately $8,517,135.06. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Kevin P. Starr sold 601,400 shares of the stock in a transaction on Tuesday, September 26th. The shares were sold at an average price of $43.00, for a total transaction of $25,860,200.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 1,753,513 shares of company stock valued at $73,876,995. 33.40% of the stock is owned by insiders.
Several hedge funds have recently made changes to their positions in the company. Wells Fargo & Company MN raised its stake in shares of MyoKardia by 2.5% in the 2nd quarter. Wells Fargo & Company MN now owns 18,539 shares of the biotechnology company’s stock valued at $243,000 after buying an additional 455 shares in the last quarter. Fiduciary Trust Co. raised its stake in shares of MyoKardia by 7.2% in the 2nd quarter. Fiduciary Trust Co. now owns 30,612 shares of the biotechnology company’s stock valued at $401,000 after buying an additional 2,058 shares in the last quarter. Schwab Charles Investment Management Inc. raised its stake in shares of MyoKardia by 5.8% in the 1st quarter. Schwab Charles Investment Management Inc. now owns 43,680 shares of the biotechnology company’s stock valued at $575,000 after buying an additional 2,394 shares in the last quarter. Nationwide Fund Advisors raised its stake in shares of MyoKardia by 36.3% in the 2nd quarter. Nationwide Fund Advisors now owns 9,729 shares of the biotechnology company’s stock valued at $127,000 after buying an additional 2,591 shares in the last quarter. Finally, Hershey Trust Co. raised its stake in shares of MyoKardia by 26.0% in the 3rd quarter. Hershey Trust Co. now owns 20,064 shares of the biotechnology company’s stock valued at $860,000 after buying an additional 4,145 shares in the last quarter. Institutional investors own 43.50% of the company’s stock.
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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