MyoKardia (MYOK) Earning Somewhat Favorable Press Coverage, Analysis Finds

News coverage about MyoKardia (NASDAQ:MYOK) has been trending somewhat positive on Friday, according to Accern Sentiment Analysis. The research group identifies negative and positive media coverage by monitoring more than 20 million blog and news sources. Accern ranks coverage of companies on a scale of negative one to one, with scores nearest to one being the most favorable. MyoKardia earned a coverage optimism score of 0.08 on Accern’s scale. Accern also assigned media stories about the biotechnology company an impact score of 47.8382491119947 out of 100, meaning that recent media coverage is somewhat unlikely to have an impact on the stock’s share price in the next several days.

Several equities research analysts have weighed in on the stock. BMO Capital Markets reissued a “buy” rating and set a $45.00 price target (up previously from $32.00) on shares of MyoKardia in a research report on Tuesday, August 8th. Wells Fargo & Company reaffirmed an “outperform” rating and issued a $48.00 target price (up from $31.00) on shares of MyoKardia in a research report on Monday, August 7th. BidaskClub raised shares of MyoKardia from a “buy” rating to a “strong-buy” rating in a research report on Saturday, August 5th. Zacks Investment Research raised shares of MyoKardia from a “sell” rating to a “hold” rating in a research report on Tuesday, October 17th. Finally, Cowen and Company raised their target price on shares of MyoKardia from $28.00 to $56.00 and gave the stock an “outperform” rating in a research report on Monday, August 7th. Two analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. The company has an average rating of “Buy” and an average price target of $55.00.

Shares of MyoKardia (NASDAQ MYOK) opened at $39.25 on Friday. MyoKardia has a 12-month low of $10.55 and a 12-month high of $49.55.

MyoKardia (NASDAQ:MYOK) last posted its earnings results on Thursday, November 2nd. The biotechnology company reported ($0.42) EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of ($0.42). MyoKardia had a negative net margin of 53.49% and a negative return on equity of 14.92%. The firm had revenue of $5.63 million during the quarter, compared to analysts’ expectations of $6.10 million. During the same period last year, the company posted ($0.35) EPS. The company’s quarterly revenue was up 58.6% compared to the same quarter last year. sell-side analysts predict that MyoKardia will post -1.62 earnings per share for the current fiscal year.

In related news, insider Joseph Lambing sold 5,000 shares of MyoKardia stock in a transaction dated 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 transaction, the insider now directly owns 99,718 shares of the company’s stock, valued at approximately $4,487,310. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Anastasios Gianakakos sold 4,300 shares of MyoKardia 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 $20,654,765.91. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,718,513 shares of company stock valued at $72,903,568. 33.40% of the stock is currently owned by corporate insiders.

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About MyoKardia

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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