MyoKardia (MYOK) Given “Outperform” Rating at Wells Fargo

MyoKardia (NASDAQ:MYOK)‘s stock had its “outperform” rating reiterated by Wells Fargo in a report issued on Friday. They currently have a $70.00 target price on the biotechnology company’s stock. Wells Fargo’s target price would indicate a potential upside of 40.70% from the stock’s current price.

MYOK has been the topic of several other research reports. BidaskClub cut MyoKardia from a “hold” rating to a “sell” rating in a research note on Tuesday, March 20th. Zacks Investment Research raised MyoKardia from a “hold” rating to a “buy” rating and set a $59.00 target price on the stock in a research note on Tuesday, March 13th. BMO Capital Markets lifted their target price on MyoKardia from $65.00 to $83.00 and gave the company an “outperform” rating in a research note on Friday, March 9th. ValuEngine raised MyoKardia from a “sell” rating to a “hold” rating in a research note on Friday, February 2nd. Finally, Wedbush lifted their target price on MyoKardia from $51.00 to $69.00 and gave the company an “outperform” rating in a research note 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. The company presently has a consensus rating of “Buy” and an average price target of $65.57.

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NASDAQ:MYOK opened at $49.75 on Friday. MyoKardia has a fifty-two week low of $10.80 and a fifty-two week high of $62.83. The stock has a market cap of $1,805.16, a price-to-earnings ratio of -35.54 and a beta of 3.64.

MyoKardia (NASDAQ:MYOK) last released its earnings results on Thursday, March 8th. The biotechnology company reported ($0.21) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.41) by $0.20. MyoKardia had a negative return on equity of 24.58% and a negative net margin of 204.48%. The company had revenue of $5.60 million for the quarter, compared to analysts’ expectations of $5.63 million. equities research analysts forecast that MyoKardia will post -1.35 earnings per share for the current year.

In other news, insider Anastasios Gianakakos sold 5,000 shares of MyoKardia stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $60.00, for a total transaction of $300,000.00. Following the completion of the sale, the insider now directly owns 79,390 shares in the company, valued at approximately $4,763,400. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Over the last quarter, insiders have sold 19,164 shares of company stock valued at $1,038,566. 33.40% of the stock is owned by corporate insiders.

Several institutional investors have recently made changes to their positions in MYOK. BlackRock Inc. lifted its holdings in shares of MyoKardia by 37.2% during the 4th quarter. BlackRock Inc. now owns 1,920,651 shares of the biotechnology company’s stock valued at $80,859,000 after buying an additional 521,031 shares during the last quarter. Millennium Management LLC acquired a new stake in shares of MyoKardia during the 4th quarter valued at about $20,661,000. Farallon Capital Management LLC lifted its holdings in shares of MyoKardia by 117.3% during the 4th quarter. Farallon Capital Management LLC now owns 863,732 shares of the biotechnology company’s stock valued at $36,363,000 after buying an additional 466,232 shares during the last quarter. Wells Fargo & Company MN lifted its holdings in shares of MyoKardia by 2,151.7% during the 3rd quarter. Wells Fargo & Company MN now owns 417,439 shares of the biotechnology company’s stock valued at $17,887,000 after buying an additional 398,900 shares during the last quarter. Finally, Perceptive Advisors LLC lifted its holdings in shares of MyoKardia by 29.1% during the 4th quarter. Perceptive Advisors LLC now owns 710,726 shares of the biotechnology company’s stock valued at $29,922,000 after buying an additional 160,009 shares during the last quarter. Institutional investors and hedge funds own 83.49% of the company’s stock.

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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.

Analyst Recommendations for MyoKardia (NASDAQ:MYOK)

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