Myokardia (NASDAQ:MYOK) Raised to “Hold” at BidaskClub

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

A number of other analysts have also recently weighed in on the company. Zacks Investment Research cut Myokardia from a “hold” rating to a “sell” rating in a research report on Wednesday, October 11th. Credit Suisse Group reissued an “outperform” rating and issued a $55.00 price objective (up previously from $45.00) on shares of Myokardia in a research note on Tuesday, September 19th. TheStreet lowered Myokardia from a “c” rating to a “d+” rating in a research note on Friday, November 3rd. JPMorgan Chase & Co. assumed coverage on Myokardia in a research note on Tuesday, December 12th. They issued an “overweight” rating and a $54.00 price objective on the stock. Finally, ValuEngine lowered Myokardia from a “hold” rating to a “sell” rating in a research note on Friday, December 1st. Two research analysts have rated the stock with a sell rating, one has given a hold rating and six have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $54.83.

Shares of Myokardia (NASDAQ MYOK) opened at $49.60 on Tuesday. Myokardia has a 1 year low of $10.55 and a 1 year high of $49.90. The firm has a market capitalization of $1,770.00 and a price-to-earnings ratio of -67.03.

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

In other news, insider Anastasios Gianakakos sold 3,000 shares of the company’s stock in a transaction on Thursday, December 21st. The stock was sold at an average price of $41.09, for a total transaction of $123,270.00. Following the transaction, the insider now owns 512,117 shares of the company’s stock, valued at $21,042,887.53. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Jake Bauer sold 5,000 shares of the company’s stock in a transaction on Tuesday, January 9th. The shares were sold at an average price of $45.00, for a total value of $225,000.00. Following the transaction, the insider now directly owns 56,777 shares in the company, valued at approximately $2,554,965. The disclosure for this sale can be found here. In the last three months, insiders sold 836,626 shares of company stock worth $35,146,501. Insiders own 33.40% of the company’s stock.

Institutional investors and hedge funds have recently modified their holdings of the company. Vanguard Group Inc. lifted its stake in Myokardia by 8.9% in the first quarter. Vanguard Group Inc. now owns 686,119 shares of the biotechnology company’s stock valued at $9,022,000 after buying an additional 55,927 shares during the period. Hershey Trust Co. lifted its stake in Myokardia by 26.0% in the third 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 during the period. EAM Investors LLC acquired a new position in Myokardia in the third quarter valued at about $4,216,000. Northern Trust Corp lifted its stake in Myokardia by 31.9% in the second quarter. Northern Trust Corp now owns 202,983 shares of the biotechnology company’s stock valued at $2,658,000 after buying an additional 49,044 shares during the period. Finally, Fernwood Investment Management LLC lifted its stake in Myokardia by 409.1% in the third quarter. Fernwood Investment Management LLC now owns 246,382 shares of the biotechnology company’s stock valued at $10,557,000 after buying an additional 197,989 shares during the period. 63.61% of the stock is currently owned by institutional investors and hedge funds.

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About Myokardia

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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