Myokardia Inc (NASDAQ:MYOK) has been assigned a consensus rating of “Buy” from the twelve brokerages that are currently covering the stock, MarketBeat reports. One investment analyst has rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $73.38.

A number of brokerages have issued reports on MYOK. BidaskClub raised Myokardia from a “buy” rating to a “strong-buy” rating in a research report on Thursday, August 9th. ValuEngine raised Myokardia from a “buy” rating to a “strong-buy” rating in a research report on Monday, July 2nd. Zacks Investment Research lowered Myokardia from a “hold” rating to a “sell” rating in a research report on Tuesday, July 24th. Credit Suisse Group boosted their target price on Myokardia from $70.00 to $73.00 and gave the company an “outperform” rating in a research report on Thursday, August 9th. Finally, Morgan Stanley began coverage on Myokardia in a research report on Monday, September 10th. They issued an “overweight” rating and a $72.00 target price on the stock.

Shares of MYOK stock traded down $1.25 during trading on Friday, hitting $63.10. 773,707 shares of the stock traded hands, compared to its average volume of 257,760. The firm has a market cap of $2.53 billion, a PE ratio of -45.07 and a beta of 3.40. Myokardia has a 52-week low of $32.80 and a 52-week high of $66.55.

Myokardia (NASDAQ:MYOK) last announced its earnings results on Wednesday, August 8th. The biotechnology company reported ($0.49) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.50) by $0.01. The company had revenue of $6.64 million for the quarter, compared to analyst estimates of $6.32 million. Myokardia had a negative return on equity of 21.16% and a negative net margin of 249.22%. sell-side analysts forecast that Myokardia will post -2.07 EPS for the current fiscal year.

In other Myokardia news, insider Marc Semigran sold 45,000 shares of the business’s stock in a transaction on Wednesday, September 5th. The shares were sold at an average price of $59.53, for a total value of $2,678,850.00. Following the completion of the transaction, the insider now owns 41,400 shares in the company, valued at $2,464,542. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Anastasios Gianakakos sold 3,000 shares of the business’s stock in a transaction on Thursday, July 5th. The stock was sold at an average price of $53.13, for a total transaction of $159,390.00. Following the completion of the transaction, the insider now owns 77,949 shares of the company’s stock, valued at approximately $4,141,430.37. The disclosure for this sale can be found here. In the last three months, insiders sold 61,500 shares of company stock worth $3,615,240. 33.40% of the stock is owned by corporate insiders.

Several large investors have recently bought and sold shares of the business. Principal Financial Group Inc. grew its stake in shares of Myokardia by 10.7% in the first quarter. Principal Financial Group Inc. now owns 10,845 shares of the biotechnology company’s stock worth $529,000 after acquiring an additional 1,052 shares in the last quarter. Legal & General Group Plc grew its stake in shares of Myokardia by 36.0% in the second quarter. Legal & General Group Plc now owns 4,961 shares of the biotechnology company’s stock worth $247,000 after acquiring an additional 1,312 shares in the last quarter. Great West Life Assurance Co. Can grew its stake in shares of 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 worth $163,000 after acquiring an additional 1,576 shares in the last quarter. Teacher Retirement System of Texas grew its stake in shares of Myokardia by 35.3% during the second quarter. Teacher Retirement System of Texas now owns 6,409 shares of the biotechnology company’s stock worth $318,000 after purchasing an additional 1,673 shares in the last quarter. Finally, RTW Investments LP grew its stake in shares of Myokardia by 0.7% during the second quarter. RTW Investments LP now owns 261,395 shares of the biotechnology company’s stock worth $12,978,000 after purchasing an additional 1,725 shares in the last quarter. Institutional investors and hedge funds own 87.95% of the company’s stock.

Myokardia Company Profile

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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Analyst Recommendations for Myokardia (NASDAQ:MYOK)

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