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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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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