MyoKardia (NASDAQ:MYOK) was upgraded by stock analysts at BidaskClub from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Wednesday.
MYOK has been the subject of a number of other research reports. Zacks Investment Research raised MyoKardia from a “hold” rating to a “buy” rating and set a $59.00 target price for the company in a report on Tuesday, March 13th. BMO Capital Markets upped their target price on MyoKardia from $65.00 to $83.00 and gave the stock an “outperform” rating in a report on Friday, March 9th. Cowen reaffirmed a “buy” rating and issued a $73.00 target price on shares of MyoKardia in a report on Tuesday. ValuEngine raised MyoKardia from a “sell” rating to a “hold” rating in a report on Friday, February 2nd. Finally, Wedbush upped 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 analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. MyoKardia has an average rating of “Buy” and a consensus price target of $67.29.
MyoKardia stock opened at $50.35 on Wednesday. MyoKardia has a 52 week low of $12.20 and a 52 week high of $62.83. The firm has a market cap of $1.86 billion, a PE ratio of -35.96 and a beta of 3.66.
MyoKardia (NASDAQ:MYOK) last posted its quarterly earnings results on Tuesday, May 8th. The biotechnology company reported ($0.50) EPS 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 business 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 earnings per share for the current fiscal year.
In other news, insider Jake Bauer sold 1,519 shares of the stock in a transaction dated Thursday, May 3rd. The stock was sold at an average price of $48.95, for a total value of $74,355.05. Following the completion of the sale, the insider now owns 62,125 shares of the company’s stock, valued at $3,041,018.75. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Anastasios Gianakakos sold 3,000 shares of the stock in a transaction dated 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 sale, the insider now directly owns 77,390 shares of the company’s stock, valued at approximately $4,726,207.30. The disclosure for this sale can be found here. In the last three months, insiders sold 20,683 shares of company stock valued at $1,102,481. Insiders own 4.70% of the company’s stock.
Hedge funds have recently modified their holdings of the company. BlackRock Inc. increased its stake in shares of MyoKardia by 37.2% in the fourth 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 period. Goldman Sachs Group Inc. increased its stake in shares of MyoKardia by 6.3% in the fourth quarter. Goldman Sachs Group Inc. now owns 55,298 shares of the biotechnology company’s stock valued at $2,328,000 after buying an additional 3,292 shares during the period. Eversept Partners LLC acquired a new stake in shares of MyoKardia in the fourth quarter valued at about $2,105,000. Hudson Bay Capital Management LP acquired a new stake in shares of MyoKardia in the fourth quarter valued at about $1,263,000. Finally, Victory Capital Management Inc. increased its stake in shares of MyoKardia by 22.3% in the fourth quarter. Victory Capital Management Inc. now owns 47,715 shares of the biotechnology company’s stock valued at $2,009,000 after buying an additional 8,700 shares during the period. 83.90% of the stock is owned by institutional investors.
MyoKardia Company Profile
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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