Zacks Investment Research lowered shares of MyoKardia, Inc. (NASDAQ:MYOK) from a buy rating to a hold rating in a research report released on Tuesday morning.

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. “

MYOK has been the subject of a number of other research reports. Wells Fargo & Company restated a buy rating on shares of MyoKardia in a research report on Thursday, September 22nd. Wedbush restated an outperform rating and set a $22.00 target price (down previously from $24.00) on shares of MyoKardia in a research report on Wednesday, September 28th. Finally, Cowen and Company restated a buy rating and set a $28.00 target price on shares of MyoKardia in a research report on Tuesday, November 8th. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. The company has a consensus rating of Buy and an average target price of $23.00.

Shares of MyoKardia (NASDAQ:MYOK) traded up 3.76% during midday trading on Tuesday, reaching $13.80. The company had a trading volume of 14,568 shares. MyoKardia has a 52-week low of $6.24 and a 52-week high of $22.83. The company’s 50-day moving average is $14.92 and its 200-day moving average is $16.42. The firm’s market cap is $433.71 million.

MyoKardia (NASDAQ:MYOK) last released its earnings results on Monday, November 7th. The company reported ($0.35) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.07) by $0.28. The firm had revenue of $3.55 million for the quarter, compared to the consensus estimate of $4.83 million. MyoKardia had a negative return on equity of 43.41% and a negative net margin of 248.75%. The business’s quarterly revenue was up .0% compared to the same quarter last year. Equities research analysts expect that MyoKardia will post ($1.50) EPS for the current fiscal year.

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Several large investors have recently made changes to their positions in the company. The Manufacturers Life Insurance Company bought a new stake in shares of MyoKardia during the third quarter worth approximately $143,000. Spark Investment Management LLC bought a new stake in shares of MyoKardia during the second quarter worth approximately $150,000. D. E. Shaw & Co. Inc. bought a new stake in shares of MyoKardia during the third quarter worth approximately $258,000. Credit Suisse AG bought a new stake in shares of MyoKardia during the third quarter worth approximately $285,000. Finally, Teachers Advisors Inc. boosted its stake in shares of MyoKardia by 185.7% in the second quarter. Teachers Advisors Inc. now owns 18,223 shares of the company’s stock worth $226,000 after buying an additional 11,845 shares during the period. 45.21% of the stock is owned by institutional investors and hedge funds.

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 results from biomechanical defects in cardiac muscle contraction. It is engaged in the business of developing and commercializing therapeutics.

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