Brokerages Set Myokardia Inc (MYOK) PT at $54.83
Myokardia Inc (NASDAQ:MYOK) has been assigned an average rating of “Buy” from the ten research firms that are presently covering the company, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, two have given a hold rating and six have given a buy rating to the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $54.83.
MYOK has been the subject of several recent analyst reports. Zacks Investment Research downgraded shares of Myokardia from a “hold” rating to a “sell” rating in a research note on Wednesday, October 11th. Credit Suisse Group restated an “outperform” rating and issued a $55.00 target price (up from $45.00) on shares of Myokardia in a research note on Tuesday, September 19th. TheStreet downgraded shares of Myokardia from a “c” rating to a “d+” rating in a research note on Friday, November 3rd. BMO Capital Markets restated an “outperform” rating and issued a $65.00 target price (up from $45.00) on shares of Myokardia in a research note on Monday, August 21st. Finally, J P Morgan Chase & Co initiated coverage on shares of Myokardia in a research note on Tuesday, December 12th. They issued an “overweight” rating and a $54.00 target price for the company.
In other news, Director Kevin P. Starr sold 601,400 shares of Myokardia stock in a transaction on Tuesday, September 26th. The shares were sold at an average price of $43.00, for a total transaction of $25,860,200.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Rock Ventures Ii L.P. Third sold 201,400 shares of Myokardia stock in a transaction on Monday, September 25th. The stock was sold at an average price of $43.00, for a total transaction of $8,660,200.00. The disclosure for this sale can be found here. Insiders have sold 1,286,713 shares of company stock valued at $55,102,695 over the last quarter. Insiders own 33.40% of the company’s stock.
Shares of Myokardia (NASDAQ MYOK) remained flat at $$38.05 on Friday. 160,677 shares of the company were exchanged, compared to its average volume of 327,135. Myokardia has a 1 year low of $10.55 and a 1 year high of $49.55.
Myokardia (NASDAQ:MYOK) last announced its earnings results on Thursday, November 2nd. The biotechnology company reported ($0.42) earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of ($0.42). The company had revenue of $5.63 million during the quarter, compared to the consensus estimate of $6.10 million. Myokardia had a negative net margin of 53.49% and a negative return on equity of 14.92%. Myokardia’s revenue was up 58.6% compared to the same quarter last year. During the same period last year, the firm earned ($0.35) earnings per share. research analysts forecast that Myokardia will post -1.62 EPS for the current fiscal year.
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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 result from biomechanical defects in cardiac muscle contraction. The Company is engaged in the business of developing and commercializing therapeutics.
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