Shares of MyoKardia, Inc. (NASDAQ:MYOK) have earned an average recommendation of “Buy” from the eight research firms that are presently covering the company, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, one has given a hold recommendation, four have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year target price among analysts that have covered the stock in the last year is $48.25.
A number of analysts have issued reports on MYOK shares. BMO Capital Markets reiterated a “buy” rating and issued a $45.00 price target (up from $32.00) on shares of MyoKardia in a report on Tuesday, August 8th. TheStreet upgraded shares of MyoKardia from a “d+” rating to a “c” rating in a report on Thursday, July 6th. ValuEngine upgraded shares of MyoKardia from a “sell” rating to a “hold” rating in a report on Monday, August 7th. Cowen and Company lifted their price target on shares of MyoKardia from $28.00 to $56.00 and gave the company an “outperform” rating in a report on Monday, August 7th. Finally, Wells Fargo & Company reiterated an “outperform” rating and issued a $48.00 price target (up from $31.00) on shares of MyoKardia in a report on Monday, August 7th.
MyoKardia (NASDAQ MYOK) traded up 4.32% during midday trading on Wednesday, hitting $44.70. The company’s stock had a trading volume of 301,401 shares. The firm’s market cap is $1.41 billion. MyoKardia has a 12 month low of $10.55 and a 12 month high of $46.80. The company’s 50 day moving average price is $33.26 and its 200 day moving average price is $18.24.
MyoKardia (NASDAQ:MYOK) last released its earnings results on Monday, August 7th. The biotechnology company reported ($0.41) earnings per share for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $5.60 million for the quarter, compared to analysts’ expectations of $6.73 million. During the same quarter last year, the firm posted ($0.37) EPS. The firm’s quarterly revenue was up 60.0% compared to the same quarter last year. Analysts expect that MyoKardia will post ($1.64) EPS for the current year.
In other MyoKardia news, CEO Anastasios Gianakakos sold 4,300 shares of MyoKardia stock in a transaction on Friday, August 4th. The shares were sold at an average price of $16.62, for a total value of $71,466.00. Following the sale, the chief executive officer now directly owns 512,463 shares in the company, valued at approximately $8,517,135.06. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Joseph Lambing sold 5,000 shares of MyoKardia stock in a transaction on Tuesday, August 22nd. The shares were sold at an average price of $45.00, for a total transaction of $225,000.00. Following the completion of the sale, the insider now owns 99,718 shares in the company, valued at $4,487,310. The disclosure for this sale can be found here. Over the last quarter, insiders sold 81,588 shares of company stock worth $2,051,222. 46.10% of the stock is currently owned by insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the business. Nationwide Fund Advisors increased its holdings in MyoKardia by 36.3% in the 2nd quarter. Nationwide Fund Advisors now owns 9,729 shares of the biotechnology company’s stock valued at $127,000 after acquiring an additional 2,591 shares during the last quarter. Highbridge Capital Management LLC bought a new stake in shares of MyoKardia in the 1st quarter worth about $136,000. Alliancebernstein L.P. bought a new stake in shares of MyoKardia in the 2nd quarter worth about $148,000. State of Wisconsin Investment Board bought a new stake in shares of MyoKardia in the 2nd quarter worth about $157,000. Finally, The Manufacturers Life Insurance Company increased its holdings in shares of MyoKardia by 38.8% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 15,073 shares of the biotechnology company’s stock worth $198,000 after buying an additional 4,215 shares during the last quarter. Institutional investors own 42.94% of the company’s stock.
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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.
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