MyoKardia, Inc. (MYOK) Given Consensus Rating of “Buy” by Brokerages

Shares of MyoKardia, Inc. (NASDAQ:MYOK) have been given an average recommendation of “Buy” by the nine ratings firms that are presently covering the company, MarketBeat Ratings reports. Two analysts have rated the stock with a hold recommendation, five have given a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $55.00.

Several equities analysts have recently commented on MYOK shares. Credit Suisse Group restated an “outperform” rating and set a $55.00 price target (up from $45.00) on shares of MyoKardia in a report on Tuesday, September 19th. TheStreet cut shares of MyoKardia from a “c” rating to a “d+” rating in a report on Friday, November 3rd. Zacks Investment Research cut shares of MyoKardia from a “hold” rating to a “sell” rating in a report on Wednesday, October 11th. ValuEngine upgraded shares of MyoKardia from a “sell” rating to a “hold” rating in a report on Monday, August 7th. Finally, Wedbush reiterated an “outperform” rating and issued a $51.00 price objective on shares of MyoKardia in a report on Wednesday, September 20th.

Shares of MyoKardia (MYOK) traded down $2.05 during trading hours on Monday, reaching $37.20. 304,300 shares of the company’s stock traded hands, compared to its average volume of 315,704. MyoKardia has a 52 week low of $10.55 and a 52 week high of $49.55.

MyoKardia (NASDAQ:MYOK) last announced its earnings results on Thursday, November 2nd. The biotechnology company reported ($0.42) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.42). MyoKardia had a negative net margin of 53.49% and a negative return on equity of 14.92%. The company had revenue of $5.63 million for the quarter, compared to the consensus estimate of $6.10 million. During the same period in the previous year, the business earned ($0.35) EPS. The company’s revenue was up 58.6% on a year-over-year basis. equities research analysts anticipate that MyoKardia will post -1.62 earnings per share for the current year.

In other news, Director Kevin P. Starr sold 75,313 shares of the company’s stock in a transaction dated Tuesday, October 3rd. The shares were sold at an average price of $40.28, for a total transaction of $3,033,607.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Anastasios Gianakakos sold 4,300 shares of the company’s stock in a transaction dated Monday, November 6th. The shares were sold at an average price of $40.23, for a total transaction of $172,989.00. Following the transaction, the chief executive officer now directly owns 513,417 shares of the company’s stock, valued at approximately $20,654,765.91. The disclosure for this sale can be found here. Insiders have sold 1,718,513 shares of company stock valued at $72,903,568 in the last ninety days. 33.40% of the stock is owned by company insiders.

A number of large investors have recently bought and sold shares of the stock. Vanguard Group Inc. raised its position in MyoKardia by 11.5% in the second quarter. Vanguard Group Inc. now owns 764,919 shares of the biotechnology company’s stock worth $10,020,000 after purchasing an additional 78,800 shares in the last quarter. JPMorgan Chase & Co. raised its position in MyoKardia by 103.5% in the second quarter. JPMorgan Chase & Co. now owns 476,575 shares of the biotechnology company’s stock worth $6,243,000 after purchasing an additional 242,408 shares in the last quarter. Wells Fargo & Company MN raised its position in MyoKardia by 2,151.7% in the third quarter. Wells Fargo & Company MN now owns 417,439 shares of the biotechnology company’s stock worth $17,887,000 after purchasing an additional 398,900 shares in the last quarter. VHCP Management II LLC acquired a new position in MyoKardia in the third quarter worth about $11,355,000. Finally, RTW Investments LP acquired a new position in MyoKardia in the third quarter worth about $10,882,000. 44.93% of the stock is owned by hedge funds and other institutional investors.

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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.

Analyst Recommendations for MyoKardia (NASDAQ:MYOK)

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