MyoKardia, Inc. (NASDAQ:MYOK) Upgraded to “Strong-Buy” by BidaskClub

MyoKardia, Inc. (NASDAQ:MYOK) was upgraded by stock analysts at BidaskClub from a “buy” rating to a “strong-buy” rating in a research report issued to clients and investors on Saturday, August 5th.

A number of other research analysts have also commented on MYOK. TheStreet lowered MyoKardia from a “c-” rating to a “d+” rating in a research report on Friday, May 19th. BMO Capital Markets reaffirmed an “outperform” rating and set a $32.00 price target on shares of MyoKardia in a research report on Wednesday, May 10th. Finally, Zacks Investment Research lowered MyoKardia from a “hold” rating to a “sell” rating in a research report on Thursday, May 11th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. MyoKardia presently has an average rating of “Buy” and an average target price of $37.60.

Shares of MyoKardia (NASDAQ:MYOK) traded up 7.37% on Friday, hitting $40.80. The company’s stock had a trading volume of 825,825 shares. The stock’s 50-day moving average price is $18.02 and its 200-day moving average price is $14.27. MyoKardia has a 52 week low of $10.55 and a 52 week high of $41.05. The firm’s market cap is $1.28 billion.

MyoKardia (NASDAQ:MYOK) last released its quarterly earnings results on Monday, August 7th. The biotechnology company reported ($0.41) EPS for the quarter, missing analysts’ consensus estimates of ($0.37) by $0.04. The business had revenue of $5.60 million for the quarter, compared to the consensus estimate of $6.73 million. MyoKardia had a negative net margin of 44.65% and a negative return on equity of 16.35%. The company’s revenue for the quarter was up 60.0% on a year-over-year basis. During the same period in the previous year, the company earned ($0.37) EPS. Equities analysts expect that MyoKardia will post ($1.64) earnings per share for the current fiscal year.

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In related news, insider Anastasios Gianakakos sold 32,988 shares of the company’s stock in a transaction that occurred on Tuesday, July 25th. The stock was sold at an average price of $15.00, for a total value of $494,820.00. Following the sale, the insider now owns 541,151 shares in the company, valued at approximately $8,117,265. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Joseph Lambing sold 15,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 8th. The stock was sold at an average price of $30.00, for a total value of $450,000.00. Following the completion of the sale, the insider now owns 119,718 shares in the company, valued at approximately $3,591,540. The disclosure for this sale can be found here. Insiders have sold a total of 67,288 shares of company stock worth $1,441,236 in the last quarter. Company insiders own 46.10% of the company’s stock.

Several hedge funds have recently bought and sold shares of MYOK. Fernwood Investment Management LLC increased its stake in MyoKardia by 0.8% in the first quarter. Fernwood Investment Management LLC now owns 43,323 shares of the biotechnology company’s stock valued at $570,000 after buying an additional 327 shares during the last quarter. Wells Fargo & Company MN increased its stake in shares of MyoKardia by 2.5% in the second quarter. Wells Fargo & Company MN now owns 18,539 shares of the biotechnology company’s stock valued at $243,000 after buying an additional 455 shares in the last quarter. Fiduciary Trust Co. increased its stake in shares of MyoKardia by 7.2% in the second quarter. Fiduciary Trust Co. now owns 30,612 shares of the biotechnology company’s stock valued at $401,000 after buying an additional 2,058 shares in the last quarter. Schwab Charles Investment Management Inc. increased its stake in shares of MyoKardia by 5.8% in the first quarter. Schwab Charles Investment Management Inc. now owns 43,680 shares of the biotechnology company’s stock valued at $575,000 after buying an additional 2,394 shares in the last quarter. Finally, Nationwide Fund Advisors increased its stake in shares of MyoKardia by 36.3% in the second quarter. Nationwide Fund Advisors now owns 9,729 shares of the biotechnology company’s stock valued at $127,000 after buying an additional 2,591 shares in the last quarter. Institutional investors own 47.63% of the company’s stock.

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.