Equities analysts predict that Myokardia Inc (NASDAQ:MYOK) will post sales of $7.57 million for the current fiscal quarter, Zacks Investment Research reports. Two analysts have issued estimates for Myokardia’s earnings. The highest sales estimate is $9.50 million and the lowest is $5.63 million. Myokardia posted sales of $5.63 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 34.5%. The firm is expected to issue its next earnings report on Thursday, November 1st.
According to Zacks, analysts expect that Myokardia will report full-year sales of $25.80 million for the current financial year, with estimates ranging from $23.00 million to $32.97 million. For the next year, analysts forecast that the firm will report sales of $34.67 million, with estimates ranging from $24.00 million to $50.00 million. Zacks Investment Research’s sales averages are an average based on a survey of research analysts that that provide coverage for Myokardia.
Myokardia (NASDAQ:MYOK) last posted its quarterly earnings data on Wednesday, August 8th. The biotechnology company reported ($0.49) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.50) by $0.01. Myokardia had a negative net margin of 249.22% and a negative return on equity of 21.16%. The firm had revenue of $6.64 million for the quarter, compared to the consensus estimate of $6.32 million.
In related news, insider June Lee sold 5,000 shares of the company’s stock in a transaction that occurred on Friday, September 21st. The stock was sold at an average price of $63.13, for a total value of $315,650.00. Following the sale, the insider now owns 5,426 shares in the company, valued at $342,543.38. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Jake Bauer sold 7,500 shares of the company’s stock in a transaction that occurred on Monday, July 23rd. The shares were sold at an average price of $56.88, for a total value of $426,600.00. Following the completion of the sale, the insider now owns 68,106 shares in the company, valued at approximately $3,873,869.28. The disclosure for this sale can be found here. In the last quarter, insiders sold 66,500 shares of company stock worth $3,946,070. 4.70% of the stock is owned by insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of MYOK. Great West Life Assurance Co. Can boosted its position in Myokardia by 92.7% in the second quarter. Great West Life Assurance Co. Can now owns 3,276 shares of the biotechnology company’s stock valued at $163,000 after buying an additional 1,576 shares during the last quarter. SG Americas Securities LLC purchased a new stake in Myokardia in the 2nd quarter worth approximately $191,000. Amalgamated Bank purchased a new stake in Myokardia in the 2nd quarter worth approximately $231,000. California Public Employees Retirement System purchased a new stake in Myokardia in the 1st quarter worth approximately $242,000. Finally, Legal & General Group Plc boosted its position in Myokardia by 36.0% in the 2nd quarter. Legal & General Group Plc now owns 4,961 shares of the biotechnology company’s stock worth $247,000 after purchasing an additional 1,312 shares in the last quarter. Hedge funds and other institutional investors own 87.95% of the company’s stock.
Shares of MYOK traded up $2.41 during mid-day trading on Monday, hitting $52.95. 377,611 shares of the company traded hands, compared to its average volume of 367,621. Myokardia has a 1-year low of $32.80 and a 1-year high of $67.79. The company has a market cap of $2.62 billion, a P/E ratio of -37.82 and a beta of 3.40.
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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