Myokardia (NASDAQ:MYOK) had its price target upped by Credit Suisse Group from $77.00 to $82.00 in a report released on Tuesday morning, The Fly reports. The firm currently has a positive rating on the biotechnology company’s stock.
MYOK has been the subject of a number of other reports. BidaskClub downgraded shares of Myokardia from a buy rating to a hold rating in a research note on Saturday, January 18th. Wells Fargo & Co increased their price objective on shares of Myokardia from $82.00 to $96.00 and gave the stock a positive rating in a research note on Friday, January 17th. Cowen restated a buy rating and set a $73.00 price objective on shares of Myokardia in a research note on Monday, November 11th. Citigroup increased their price objective on shares of Myokardia from $70.00 to $87.00 and gave the stock a buy rating in a research note on Friday, December 20th. Finally, Morgan Stanley increased their price objective on shares of Myokardia from $70.00 to $75.00 and gave the stock an overweight rating in a research note on Tuesday, December 17th. Four analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. The stock has a consensus rating of Buy and a consensus price target of $82.36.
Shares of Myokardia stock traded down $1.11 during trading hours on Tuesday, reaching $70.40. 311,852 shares of the company’s stock were exchanged, compared to its average volume of 356,921. The company has a 50 day moving average of $71.51 and a two-hundred day moving average of $61.11. Myokardia has a fifty-two week low of $41.66 and a fifty-two week high of $78.28. The stock has a market cap of $3.27 billion, a P/E ratio of -13.49 and a beta of 2.09.
In related news, CEO Anastasios Gianakakos sold 5,000 shares of the firm’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $65.02, for a total value of $325,100.00. Following the completion of the sale, the chief executive officer now directly owns 90,864 shares in the company, valued at approximately $5,907,977.28. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Jake Bauer sold 21,232 shares of the firm’s stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $65.17, for a total transaction of $1,383,689.44. Following the completion of the sale, the insider now owns 53,134 shares of the company’s stock, valued at $3,462,742.78. The disclosure for this sale can be found here. Insiders sold a total of 89,828 shares of company stock valued at $6,099,362 over the last quarter. 4.30% of the stock is currently owned by company insiders.
A number of large investors have recently modified their holdings of MYOK. California State Teachers Retirement System raised its holdings in Myokardia by 1.2% in the 3rd quarter. California State Teachers Retirement System now owns 69,233 shares of the biotechnology company’s stock valued at $3,611,000 after acquiring an additional 827 shares during the period. Man Group plc bought a new position in Myokardia in the 3rd quarter valued at about $1,335,000. Assenagon Asset Management S.A. bought a new position in Myokardia in the 4th quarter valued at about $3,223,000. State of New Jersey Common Pension Fund D bought a new position in Myokardia in the 3rd quarter valued at about $2,357,000. Finally, Castleark Management LLC bought a new position in Myokardia in the 3rd quarter valued at about $6,945,000.
MyoKardia, Inc, a clinical stage biopharmaceutical company, discovers, develops, and commercializes targeted therapies for the treatment of serious and neglected rare cardiovascular diseases. Its lead product candidate is mavacamten, an orally administered small molecule, which is in Phase III clinical trial that is designed to reduce left ventricular contractility to alleviate the functional consequences and symptoms of obstructive hypertrophic cardiomyopathy (HCM) and prevent or reverse HCM progression, as well as in Phase II clinical trial for non-obstructive HCM.
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