Myokardia’s (MYOK) Outperform Rating Reiterated at Credit Suisse Group

Myokardia (NASDAQ:MYOK)‘s stock had its “outperform” rating reiterated by Credit Suisse Group in a report released on Thursday. They presently have a $60.00 price target on the biotechnology company’s stock. Credit Suisse Group’s price target would suggest a potential upside of 14.07% from the company’s previous close.

MYOK has been the subject of a number of other reports. Zacks Investment Research downgraded Myokardia from a “hold” rating to a “sell” rating in a research note on Wednesday, October 11th. ValuEngine downgraded Myokardia from a “hold” rating to a “sell” rating in a research note on Friday, December 1st. Wedbush restated an “outperform” rating and issued a $51.00 target price on shares of Myokardia in a research note on Wednesday, September 20th. TheStreet downgraded Myokardia from a “c” rating to a “d+” rating in a research note on Friday, November 3rd. Finally, BidaskClub upgraded Myokardia from a “sell” rating to a “hold” rating in a research note on Tuesday, December 26th. Two analysts have rated the stock with a sell rating, one has given a hold rating and six have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $55.67.

Myokardia (MYOK) traded up $0.60 during trading hours on Thursday, reaching $52.60. The company had a trading volume of 344,900 shares, compared to its average volume of 597,636. The firm has a market capitalization of $1,858.53, a P/E ratio of -69.21 and a beta of 4.21. Myokardia has a fifty-two week low of $10.55 and a fifty-two week high of $54.00.

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

In other news, insider Joseph Lambing sold 5,000 shares of the business’s stock in a transaction that occurred on Friday, January 12th. The stock was sold at an average price of $50.00, for a total transaction of $250,000.00. Following the completion of the transaction, the insider now directly owns 95,846 shares in the company, valued at $4,792,300. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Anastasios Gianakakos sold 4,300 shares of the business’s stock in a transaction that occurred on Monday, November 6th. The stock was sold at an average price of $40.23, for a total value of $172,989.00. Following the transaction, the chief executive officer now 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 90 days, insiders sold 841,626 shares of company stock valued at $35,396,501. 33.40% of the stock is currently owned by insiders.

Several hedge funds and other institutional investors have recently modified their holdings of the company. Hamilton Lane Advisors LLC boosted its position in shares of Myokardia by 134.3% during the fourth quarter. Hamilton Lane Advisors LLC now owns 92,785 shares of the biotechnology company’s stock worth $3,906,000 after buying an additional 53,186 shares during the period. Schwab Charles Investment Management Inc. boosted its position in shares of Myokardia by 16.9% during the fourth quarter. Schwab Charles Investment Management Inc. now owns 94,358 shares of the biotechnology company’s stock worth $3,973,000 after buying an additional 13,640 shares during the period. GSA Capital Partners LLP acquired a new position in shares of Myokardia during the third quarter worth approximately $1,478,000. Cubist Systematic Strategies LLC acquired a new position in shares of Myokardia during the third quarter worth approximately $355,000. Finally, RTW Investments LP acquired a new position in shares of Myokardia during the third quarter worth approximately $10,882,000. Institutional investors and hedge funds own 63.61% 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.

Analyst Recommendations for Myokardia (NASDAQ:MYOK)

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