MyoKardia (MYOK) – Investment Analysts’ Recent Ratings Updates

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MyoKardia (NASDAQ: MYOK) has recently received a number of price target changes and ratings updates:

  • 5/23/2018 – MyoKardia was upgraded by analysts at BidaskClub from a “sell” rating to a “hold” rating.
  • 5/22/2018 – MyoKardia had its “buy” rating reaffirmed by analysts at Cowen Inc. They now have a $73.00 price target on the stock.
  • 5/12/2018 – MyoKardia was downgraded by analysts at BidaskClub from a “hold” rating to a “sell” rating.
  • 5/11/2018 – MyoKardia was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. According to Zacks, “MyoKardia, Inc. is a biopharmaceutical company. The company focuses on discovering, developing, and commercializing therapies for the treatment of serious and neglected rare cardiovascular diseases. Its product candidate consists of MYK-461, a small molecule to reduce excessive cardiac muscle contractility leading to hypertrophic cardiomyopathy, DCM-1, treats heritable dilated cardiomyopathy by restoring normal contractility in the diseased DCM heart, HCM-2, a product candidate to reduce cardiac muscle contractility to normal levels in HCM patients and LUS-1, which is intended to counteract a muscle disruption that results in impaired relaxation of the heart, which are in different clinical trial. MyoKardia, Inc. is headquartered in San Francisco, California. “
  • 5/10/2018 – MyoKardia was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $54.00 price target on the stock. According to Zacks, “MyoKardia, Inc. is a biopharmaceutical company. The company focuses on discovering, developing, and commercializing therapies for the treatment of serious and neglected rare cardiovascular diseases. Its product candidate consists of MYK-461, a small molecule to reduce excessive cardiac muscle contractility leading to hypertrophic cardiomyopathy, DCM-1, treats heritable dilated cardiomyopathy by restoring normal contractility in the diseased DCM heart, HCM-2, a product candidate to reduce cardiac muscle contractility to normal levels in HCM patients and LUS-1, which is intended to counteract a muscle disruption that results in impaired relaxation of the heart, which are in different clinical trial. MyoKardia, Inc. is headquartered in San Francisco, California. “
  • 4/13/2018 – MyoKardia had its “outperform” rating reaffirmed by analysts at Wells Fargo & Co. They now have a $70.00 price target on the stock.
  • 3/26/2018 – MyoKardia was upgraded by analysts at BidaskClub from a “sell” rating to a “hold” rating.

Shares of MyoKardia traded down $1.30, reaching $49.05, during mid-day trading on Wednesday, MarketBeat reports. The stock had a trading volume of 46,399 shares, compared to its average volume of 263,941. The stock has a market cap of $1.74 billion, a P/E ratio of -35.04 and a beta of 3.66. MyoKardia has a 12-month low of $12.20 and a 12-month high of $62.83.

MyoKardia (NASDAQ:MYOK) last posted its quarterly earnings data on Tuesday, May 8th. The biotechnology company reported ($0.50) EPS for the quarter, missing analysts’ consensus estimates of ($0.29) by ($0.21). The company had revenue of $5.33 million for the quarter, compared to analysts’ expectations of $7.82 million. MyoKardia had a negative return on equity of 25.18% and a negative net margin of 235.47%. analysts forecast that MyoKardia will post -1.72 EPS for the current year.

In related news, insider Jake Bauer sold 1,519 shares of the business’s stock in a transaction that occurred on Thursday, May 3rd. The stock was sold at an average price of $48.95, for a total transaction of $74,355.05. Following the transaction, the insider now directly owns 62,125 shares of the company’s stock, valued at approximately $3,041,018.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Anastasios Gianakakos sold 3,000 shares of the business’s stock in a transaction that occurred on Monday, March 5th. The stock was sold at an average price of $61.07, for a total value of $183,210.00. Following the transaction, the insider now directly owns 77,390 shares in the company, valued at $4,726,207.30. The disclosure for this sale can be found here. Insiders sold a total of 20,683 shares of company stock worth $1,102,481 over the last ninety days. Corporate insiders own 4.70% of the company’s stock.

A number of institutional investors have recently added to or reduced their stakes in MYOK. SG Americas Securities LLC acquired a new position in shares of MyoKardia in the 4th quarter worth approximately $185,000. Dimensional Fund Advisors LP bought a new position in shares of MyoKardia in the 3rd quarter worth $212,000. California Public Employees Retirement System bought a new position in shares of MyoKardia in the 1st quarter worth $242,000. Jane Street Group LLC bought a new position in shares of MyoKardia in the 4th quarter worth $213,000. Finally, GSA Capital Partners LLP bought a new position in shares of MyoKardia in the 1st quarter worth $288,000. 83.90% of the stock is currently owned by hedge funds and other institutional investors.

MyoKardia, Inc, a clinical stage biopharmaceutical company, discovers, develops, and commercializes therapies for the treatment of rare cardiovascular diseases. Its lead product candidate is mavacamten, an orally administered small molecule, which has completed Phase II clinical trial that is designed to reduce left ventricular contractility to potentially alleviate the functional consequences and symptoms of hypertrophic cardiomyopathy (HCM) and prevent or reverse HCM progression.

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