Shares of Myokardia Inc (NASDAQ:MYOK) have earned an average rating of “Buy” from the twelve research firms that are covering the company, Marketbeat.com reports. Two research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $78.25.
A number of equities analysts have commented on the company. BMO Capital Markets raised their price objective on Myokardia to $90.00 and gave the stock an “outperform” rating in a research note on Tuesday, March 5th. BidaskClub lowered Myokardia from a “buy” rating to a “hold” rating in a research note on Saturday, June 1st. ValuEngine upgraded Myokardia from a “buy” rating to a “strong-buy” rating in a research note on Friday, April 5th. JPMorgan Chase & Co. raised their price objective on Myokardia from $75.00 to $85.00 and gave the stock an “overweight” rating in a research note on Monday, May 20th. Finally, Cantor Fitzgerald restated a “buy” rating and set a $90.00 price objective on shares of Myokardia in a research note on Monday, March 4th.
NASDAQ:MYOK traded down $0.45 during mid-day trading on Tuesday, hitting $46.02. 9,317 shares of the stock were exchanged, compared to its average volume of 331,131. The stock has a market cap of $2.15 billion, a PE ratio of -26.26 and a beta of 2.20. The stock’s 50-day moving average price is $47.87. Myokardia has a fifty-two week low of $39.01 and a fifty-two week high of $67.79.
Myokardia (NASDAQ:MYOK) last released its quarterly earnings results on Thursday, May 9th. The biotechnology company reported ($0.93) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.65) by ($0.28). Myokardia had a negative return on equity of 19.98% and a negative net margin of 201.81%. Equities analysts forecast that Myokardia will post -3.5 EPS for the current fiscal year.
In other Myokardia news, CFO Taylor C. Harris sold 1,324 shares of the firm’s stock in a transaction on Friday, April 5th. The stock was sold at an average price of $53.30, for a total transaction of $70,569.20. Following the transaction, the chief financial officer now owns 3,750 shares in the company, valued at approximately $199,875. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 4.30% of the stock is owned by company insiders.
Institutional investors and hedge funds have recently modified their holdings of the company. Great West Life Assurance Co. Can increased its stake in shares of Myokardia by 27.8% in the 4th quarter. Great West Life Assurance Co. Can now owns 4,188 shares of the biotechnology company’s stock valued at $197,000 after purchasing an additional 912 shares during the last quarter. Hillhouse Capital Advisors Ltd. bought a new stake in Myokardia during the 4th quarter worth $41,938,000. Virginia Retirement Systems ET AL bought a new stake in Myokardia during the 4th quarter worth $542,000. DekaBank Deutsche Girozentrale grew its position in Myokardia by 22.9% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 12,600 shares of the biotechnology company’s stock worth $753,000 after acquiring an additional 2,350 shares during the last quarter. Finally, State Board of Administration of Florida Retirement System grew its position in Myokardia by 19.7% during the 4th quarter. State Board of Administration of Florida Retirement System now owns 15,072 shares of the biotechnology company’s stock worth $736,000 after acquiring an additional 2,482 shares during the last quarter. Institutional investors own 99.66% 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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