Several other research firms also recently weighed in on MYOK. Cantor Fitzgerald reissued a buy rating and issued a $90.00 price target on shares of Myokardia in a research note on Thursday, May 9th. Zacks Investment Research upgraded shares of Myokardia from a hold rating to a buy rating and set a $52.00 price target for the company in a research report on Thursday, May 9th. ValuEngine cut shares of Myokardia from a strong-buy rating to a buy rating in a report on Thursday, April 11th. TheStreet upgraded shares of Myokardia from a d+ rating to a c- rating in a report on Thursday, April 4th. Finally, BMO Capital Markets boosted their price target on shares of Myokardia to $90.00 and gave the stock an outperform rating in a report on Tuesday, March 5th. Two investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Myokardia has a consensus rating of Buy and an average price target of $75.33.
Shares of NASDAQ MYOK traded down $0.95 during trading on Wednesday, hitting $46.22. The company had a trading volume of 164,312 shares, compared to its average volume of 530,093. Myokardia has a fifty-two week low of $39.01 and a fifty-two week high of $67.79. The firm has a market cap of $2.16 billion, a price-to-earnings ratio of -26.26 and a beta of 2.21.
Myokardia (NASDAQ:MYOK) last announced its earnings results on Thursday, May 9th. The biotechnology company reported ($0.93) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.65) by ($0.28). Myokardia had a negative net margin of 201.81% and a negative return on equity of 19.98%. Equities analysts expect that Myokardia will post -3.5 EPS for the current fiscal year.
In related news, CFO Taylor C. Harris sold 1,324 shares of the company’s stock in a transaction on Friday, April 5th. The shares were sold at an average price of $53.30, for a total value of $70,569.20. Following the completion of the sale, the chief financial officer now owns 3,750 shares in the company, valued at approximately $199,875. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 4.70% of the stock is owned by corporate insiders.
Hedge funds have recently added to or reduced their stakes in the stock. Advisor Group Inc. raised its position in Myokardia by 172.0% during the 4th quarter. Advisor Group Inc. now owns 514 shares of the biotechnology company’s stock worth $25,000 after buying an additional 325 shares during the last quarter. Bank of Montreal Can raised its position in Myokardia by 71.2% during the 4th quarter. Bank of Montreal Can now owns 553 shares of the biotechnology company’s stock worth $27,000 after buying an additional 230 shares during the last quarter. Meeder Asset Management Inc. raised its position in Myokardia by 309.1% during the 1st quarter. Meeder Asset Management Inc. now owns 540 shares of the biotechnology company’s stock worth $28,000 after buying an additional 408 shares during the last quarter. Group One Trading L.P. purchased a new position in Myokardia during the 4th quarter worth $31,000. Finally, Great West Life Assurance Co. Can raised its position in Myokardia by 27.8% during the 4th quarter. Great West Life Assurance Co. Can now owns 4,188 shares of the biotechnology company’s stock worth $197,000 after buying an additional 912 shares during the last quarter. Hedge funds and other institutional investors own 99.67% of the company’s stock.
Myokardia Company Profile
MyoKardia, Inc, a clinical stage biopharmaceutical company, discovers, develops, and commercializes targeted therapies for the treatment of serious and neglected rare cardiovascular diseases. Its lead product candidate is mavacamten, an orally administered small molecule, which is in Phase III clinical trial that is designed to reduce left ventricular contractility to alleviate the functional consequences and symptoms of obstructive hypertrophic cardiomyopathy (HCM) and prevent or reverse HCM progression, as well as in Phase II clinical trial for non-obstructive HCM.
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