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.
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.
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