Myokardia Inc (MYOK) Receives $69.50 Average Target Price from Brokerages

Shares of Myokardia Inc (NASDAQ:MYOK) have been given a consensus rating of “Buy” by the ten ratings firms that are currently covering the firm, Marketbeat reports. One research analyst has rated the stock with a hold recommendation, six have issued a buy recommendation and two have given a strong buy recommendation to the company. The average 12 month price objective among brokers that have covered the stock in the last year is $69.50.

MYOK has been the topic of several research analyst reports. BidaskClub cut shares of Myokardia from a “hold” rating to a “sell” rating in a research note on Tuesday, March 20th. BMO Capital Markets upped their target price on shares of Myokardia from $65.00 to $83.00 and gave the company an “outperform” rating in a research note on Friday, March 9th. Zacks Investment Research upgraded shares of 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. Cowen restated a “buy” rating and set a $56.00 target price on shares of Myokardia in a research note on Friday, March 9th. Finally, Credit Suisse Group upped their target price on shares of Myokardia from $60.00 to $68.00 and gave the company an “outperform” rating in a research note on Friday, March 9th.

In other news, insider Jake Bauer sold 5,000 shares of the stock in a transaction that occurred on Wednesday, April 11th. The shares were sold at an average price of $50.00, for a total value of $250,000.00. Following the transaction, the insider now owns 66,777 shares in the company, valued at approximately $3,338,850. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Anastasios Gianakakos sold 3,000 shares of the stock in a transaction that occurred on Friday, May 4th. The stock was sold at an average price of $47.57, for a total transaction of $142,710.00. Following the completion of the transaction, the chief executive officer now owns 74,968 shares in the company, valued at approximately $3,566,227.76. The disclosure for this sale can be found here. Insiders have sold a total of 12,519 shares of company stock worth $607,915 in the last 90 days. Company insiders own 33.40% of the company’s stock.

Several large investors have recently modified their holdings of the company. Principal Financial Group Inc. lifted its stake in shares of Myokardia by 10.7% in the 1st quarter. Principal Financial Group Inc. now owns 10,845 shares of the biotechnology company’s stock worth $529,000 after purchasing an additional 1,052 shares during the period. New York State Common Retirement Fund lifted its stake in shares of Myokardia by 8.2% in the 1st quarter. New York State Common Retirement Fund now owns 25,163 shares of the biotechnology company’s stock worth $1,228,000 after purchasing an additional 1,900 shares during the period. State Board of Administration of Florida Retirement System lifted its stake in shares of Myokardia by 27.5% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 8,840 shares of the biotechnology company’s stock worth $431,000 after purchasing an additional 1,906 shares during the period. Northern Trust Corp lifted its stake in shares of Myokardia by 0.9% in the 1st quarter. Northern Trust Corp now owns 241,175 shares of the biotechnology company’s stock worth $11,769,000 after purchasing an additional 2,037 shares during the period. Finally, Goldman Sachs Group Inc. lifted its stake in shares of Myokardia by 6.3% in the 4th quarter. Goldman Sachs Group Inc. now owns 55,298 shares of the biotechnology company’s stock worth $2,328,000 after purchasing an additional 3,292 shares during the period. Hedge funds and other institutional investors own 84.02% of the company’s stock.

Shares of MYOK stock opened at $53.40 on Tuesday. Myokardia has a one year low of $12.85 and a one year high of $62.83.

Myokardia (NASDAQ:MYOK) last announced its quarterly earnings data on Tuesday, May 8th. The biotechnology company reported ($0.50) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.29) by ($0.21). The firm had revenue of $5.33 million for the quarter, compared to analysts’ expectations of $7.82 million. Myokardia had a negative net margin of 235.47% and a negative return on equity of 25.18%. equities analysts expect that Myokardia will post -2.07 earnings per share for the current year.

About Myokardia

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.

Analyst Recommendations for Myokardia (NASDAQ:MYOK)

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