BidaskClub cut shares of MyoKardia (NASDAQ:MYOK) from a hold rating to a sell rating in a report issued on Saturday morning.
A number of other analysts also recently weighed in on the stock. Credit Suisse Group reissued an outperform rating and set a $60.00 price target on shares of MyoKardia in a research report on Thursday, January 18th. BMO Capital Markets raised their price target on shares of MyoKardia from $65.00 to $83.00 and gave the stock an outperform rating in a research report on Friday, March 9th. Zacks Investment Research raised shares of MyoKardia from a hold rating to a buy rating and set a $59.00 price target for the company in a research report on Tuesday, March 13th. ValuEngine raised shares of MyoKardia from a sell rating to a hold rating in a research report on Friday, February 2nd. Finally, Cowen reissued a buy rating and set a $56.00 price target on shares of MyoKardia in a research report on Friday, March 9th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and six have assigned a buy rating to the stock. The stock has an average rating of Buy and a consensus price target of $64.86.
MYOK stock opened at $46.95 on Friday. MyoKardia has a twelve month low of $45.40 and a twelve month high of $46.85. The company has a market cap of $1.65 billion, a PE ratio of -33.29 and a beta of 3.66.
MyoKardia (NASDAQ:MYOK) last released its quarterly earnings results on Tuesday, May 8th. The biotechnology company reported ($0.50) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.29) by ($0.21). MyoKardia had a negative return on equity of 25.18% and a negative net margin of 235.47%. The company had revenue of $5.33 million for the quarter, compared to analyst estimates of $7.82 million. research analysts expect that MyoKardia will post -1.72 EPS for the current fiscal year.
In other MyoKardia news, insider Anastasios Gianakakos sold 3,000 shares of MyoKardia stock in a transaction on Monday, March 5th. The shares were sold at an average price of $61.07, for a total value of $183,210.00. Following the completion of the transaction, the insider now owns 77,390 shares of the company’s stock, valued at $4,726,207.30. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Jake Bauer sold 5,000 shares of MyoKardia stock in a transaction on Wednesday, April 11th. The stock was sold at an average price of $50.00, for a total transaction of $250,000.00. Following the completion of the transaction, the insider now directly owns 66,777 shares of the company’s stock, valued at approximately $3,338,850. The disclosure for this sale can be found here. In the last ninety days, insiders sold 20,683 shares of company stock valued at $1,102,481. 4.70% of the stock is currently owned by corporate insiders.
A number of institutional investors have recently added to or reduced their stakes in MYOK. SG Americas Securities LLC acquired a new position in MyoKardia in the fourth quarter worth $185,000. Dimensional Fund Advisors LP acquired a new position in MyoKardia in the third quarter worth $212,000. Jane Street Group LLC acquired a new position in MyoKardia in the fourth quarter worth $213,000. California Public Employees Retirement System acquired a new position in MyoKardia in the first quarter worth $242,000. Finally, GSA Capital Partners LLP acquired a new position in MyoKardia in the first quarter worth $288,000. 75.53% of the stock is owned by hedge funds and other institutional investors.
MyoKardia, Inc, a clinical stage biopharmaceutical company, discovers, develops, and commercializes therapies for the treatment of rare cardiovascular diseases. Its lead product candidate is mavacamten, an orally administered small molecule, which has completed Phase II clinical trial that is designed to reduce left ventricular contractility to potentially alleviate the functional consequences and symptoms of hypertrophic cardiomyopathy (HCM) and prevent or reverse HCM progression.
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