Brokerages expect Myokardia Inc (NASDAQ:MYOK) to report $7.82 million in sales for the current quarter, according to Zacks Investment Research. Two analysts have issued estimates for Myokardia’s earnings. The lowest sales estimate is $5.63 million and the highest is $10.00 million. Myokardia posted sales of $5.63 million in the same quarter last year, which indicates a positive year-over-year growth rate of 38.9%. The firm is scheduled to report its next quarterly earnings results on Tuesday, May 8th.
On average, analysts expect that Myokardia will report full year sales of $7.82 million for the current fiscal year, with estimates ranging from $22.50 million to $40.00 million. For the next financial year, analysts anticipate that the business will report sales of $37.00 million per share, with estimates ranging from $24.00 million to $50.00 million. Zacks Investment Research’s sales calculations are an average based on a survey of research analysts that that provide coverage for Myokardia.
Myokardia (NASDAQ:MYOK) last issued its quarterly earnings data on Thursday, March 8th. The biotechnology company reported ($0.21) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.41) by $0.20. Myokardia had a negative net margin of 204.48% and a negative return on equity of 24.58%. The business had revenue of $5.60 million during the quarter, compared to analysts’ expectations of $5.63 million.
A number of research firms recently issued reports on MYOK. BidaskClub raised Myokardia from a “sell” rating to a “hold” rating in a research note on Tuesday, December 12th. Cowen reissued a “buy” rating and set a $56.00 target price on shares of Myokardia in a report on Friday, March 9th. Credit Suisse Group reissued an “outperform” rating and set a $60.00 target price on shares of Myokardia in a report on Thursday, January 18th. JPMorgan Chase & Co. initiated coverage on Myokardia in a report on Tuesday, December 12th. They set an “overweight” rating and a $54.00 target price for the company. Finally, Wedbush lifted their target price on Myokardia from $51.00 to $69.00 and gave the stock an “outperform” rating in a report on Friday, March 9th. Three research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Myokardia has an average rating of “Buy” and an average price target of $62.43.
In related news, insider Joseph Lambing sold 5,000 shares of the firm’s stock in a transaction on Friday, January 12th. The stock was sold at an average price of $50.00, for a total value of $250,000.00. Following the transaction, the insider now owns 95,846 shares in the company, valued at $4,792,300. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Anastasios Gianakakos sold 3,000 shares of the firm’s stock in a transaction 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 completion of the transaction, the insider now owns 512,117 shares in the company, valued at approximately $21,042,887.53. The disclosure for this sale can be found here. Insiders sold 848,326 shares of company stock worth $35,859,872 in the last 90 days. 33.40% of the stock is owned by company insiders.
Several hedge funds and other institutional investors have recently modified their holdings of the stock. Handelsbanken Fonder AB increased its position in shares of Myokardia by 86.7% in the fourth quarter. Handelsbanken Fonder AB now owns 28,000 shares of the biotechnology company’s stock worth $1,179,000 after purchasing an additional 13,000 shares during the period. MetLife Investment Advisors LLC purchased a new stake in Myokardia during the 4th quarter worth about $384,000. Iguana Healthcare Management LLC purchased a new stake in Myokardia during the 4th quarter worth about $2,105,000. Jane Street Group LLC purchased a new stake in Myokardia during the 4th quarter worth about $213,000. Finally, Millennium Management LLC purchased a new stake in Myokardia during the 4th quarter worth about $20,661,000. Institutional investors own 83.91% of the company’s stock.
Shares of MYOK stock traded down $1.85 during trading on Thursday, hitting $48.65. 700,513 shares of the stock were exchanged, compared to its average volume of 473,378. Myokardia has a twelve month low of $10.80 and a twelve month high of $62.83. The firm has a market capitalization of $1,747.70, a PE ratio of -34.50 and a beta of 3.35.
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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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