Wells Fargo & Company reissued their outperform rating on shares of MyoKardia, Inc. (NASDAQ:MYOK) in a report issued on Monday. The brokerage currently has a $48.00 price objective on the biotechnology company’s stock, up from their previous price objective of $31.00.
Several other equities research analysts also recently weighed in on MYOK. BidaskClub raised MyoKardia from a buy rating to a strong-buy rating in a report on Saturday, August 5th. TheStreet downgraded MyoKardia from a c- rating to a d+ rating in a report on Friday, May 19th. BMO Capital Markets reissued an outperform rating and set a $32.00 price objective on shares of MyoKardia in a report on Wednesday, May 10th. Finally, Zacks Investment Research downgraded MyoKardia from a hold rating to a sell rating in a report on Thursday, May 11th. One analyst has rated the stock with a sell rating, one has issued a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. The stock currently has a consensus rating of Buy and a consensus target price of $37.60.
MyoKardia (NASDAQ MYOK) opened at 36.75 on Monday. The firm’s market cap is $1.16 billion. MyoKardia has a 52 week low of $10.55 and a 52 week high of $37.88. The stock’s 50 day moving average price is $16.06 and its 200 day moving average price is $13.71.
MyoKardia (NASDAQ:MYOK) last issued its quarterly earnings results on Monday, August 7th. The biotechnology company reported ($0.41) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.37) by $0.04. MyoKardia had a negative net margin of 44.65% and a negative return on equity of 16.35%. The business had revenue of $5.60 million during the quarter, compared to the consensus estimate of $6.73 million. During the same quarter in the previous year, the business posted ($0.37) EPS. The company’s revenue for the quarter was up 60.0% on a year-over-year basis. On average, equities research analysts predict that MyoKardia will post ($1.64) EPS for the current year.
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In other MyoKardia news, insider Jake Bauer sold 15,000 shares of MyoKardia stock in a transaction dated Monday, August 7th. The stock was sold at an average price of $28.33, for a total transaction of $424,950.00. Following the transaction, the insider now directly owns 75,545 shares of the company’s stock, valued at approximately $2,140,189.85. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Anastasios Gianakakos sold 32,988 shares of MyoKardia stock in a transaction dated Tuesday, July 25th. The stock was sold at an average price of $15.00, for a total value of $494,820.00. Following the transaction, the insider now directly owns 541,151 shares in the company, valued at $8,117,265. 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 over the last ninety days. Company insiders own 46.10% of the company’s stock.
A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Victory Capital Management Inc. increased its position in shares of MyoKardia by 49.1% in the first quarter. Victory Capital Management Inc. now owns 40,535 shares of the biotechnology company’s stock valued at $533,000 after buying an additional 13,355 shares during the last quarter. JPMorgan Chase & Co. increased its position in shares of MyoKardia by 37.6% in the first quarter. JPMorgan Chase & Co. now owns 234,167 shares of the biotechnology company’s stock worth $3,080,000 after buying an additional 64,017 shares in the last quarter. Aberdeen Asset Management PLC UK increased its position in shares of MyoKardia by 85.2% in the first quarter. Aberdeen Asset Management PLC UK now owns 20,549 shares of the biotechnology company’s stock worth $270,000 after buying an additional 9,451 shares in the last quarter. Fernwood Investment Management LLC increased its position in shares of MyoKardia by 0.8% in the first quarter. Fernwood Investment Management LLC now owns 43,323 shares of the biotechnology company’s stock worth $570,000 after buying an additional 327 shares in the last quarter. Finally, Trexquant Investment LP increased its position in shares of MyoKardia by 134.5% in the first quarter. Trexquant Investment LP now owns 37,987 shares of the biotechnology company’s stock worth $500,000 after buying an additional 21,787 shares in the last quarter. 47.74% of the stock is currently 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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