Myokardia (NASDAQ:MYOK)‘s stock had its “outperform” rating reaffirmed by equities researchers at Credit Suisse Group in a research report issued to clients and investors on Thursday. They presently have a $60.00 price objective on the biotechnology company’s stock. Credit Suisse Group’s target price points to a potential upside of 14.07% from the stock’s previous close.
Several other research analysts have also commented on MYOK. Wedbush reissued an “outperform” rating and issued a $51.00 price objective on shares of Myokardia in a research report on Wednesday, September 20th. Zacks Investment Research lowered Myokardia from a “hold” rating to a “sell” rating in a research report on Wednesday, October 11th. TheStreet lowered Myokardia from a “c” rating to a “d+” rating in a research report on Friday, November 3rd. ValuEngine lowered Myokardia from a “hold” rating to a “sell” rating in a research report on Friday, December 1st. Finally, JPMorgan Chase & Co. initiated coverage on Myokardia in a research report on Tuesday, December 12th. They issued an “overweight” rating and a $54.00 price objective on the stock. Two analysts have rated the stock with a sell rating, one has given a hold rating and six have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $55.67.
Myokardia (NASDAQ:MYOK) traded up $0.60 during trading hours on Thursday, reaching $52.60. The company’s stock had a trading volume of 344,900 shares, compared to its average volume of 597,636. Myokardia has a one year low of $10.55 and a one year high of $54.00. The stock has a market capitalization of $1,858.53, a price-to-earnings ratio of -69.21 and a beta of 4.21.
In other news, CEO Anastasios Gianakakos sold 4,300 shares of Myokardia stock in a transaction dated Monday, November 6th. The stock was sold at an average price of $40.23, for a total transaction of $172,989.00. Following the sale, the chief executive officer now directly owns 513,417 shares of the company’s stock, valued at $20,654,765.91. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Kevin P. Starr sold 816,326 shares of Myokardia stock in a transaction dated Wednesday, January 3rd. The stock was sold at an average price of $42.00, for a total value of $34,285,692.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 841,626 shares of company stock worth $35,396,501. Corporate insiders own 33.40% of the company’s stock.
Several hedge funds and other institutional investors have recently made changes to their positions in MYOK. Wells Fargo & Company MN increased its position in shares of Myokardia by 2,151.7% during the third quarter. Wells Fargo & Company MN now owns 417,439 shares of the biotechnology company’s stock worth $17,887,000 after acquiring an additional 398,900 shares during the last quarter. VHCP Management II LLC acquired a new position in Myokardia in the third quarter worth about $11,355,000. RTW Investments LP acquired a new position in Myokardia in the third quarter worth about $10,882,000. JPMorgan Chase & Co. grew its stake 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. Finally, Fernwood Investment Management LLC grew its stake in Myokardia by 409.1% in the third quarter. Fernwood Investment Management LLC now owns 246,382 shares of the biotechnology company’s stock worth $10,557,000 after purchasing an additional 197,989 shares in the last quarter. 63.61% of the stock is currently owned by institutional investors and hedge funds.
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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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