Myokardia Inc (MYOK) Receives $73.57 Average Target Price from Analysts
Myokardia Inc (NASDAQ:MYOK) has received an average rating of “Buy” from the eleven analysts that are presently covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a hold recommendation, eight have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $73.57.
Several analysts have issued reports on the company. Credit Suisse Group boosted their price objective on Myokardia from $70.00 to $73.00 and gave the stock an “outperform” rating in a report on Thursday, August 9th. BidaskClub upgraded Myokardia from a “hold” rating to a “buy” rating in a report on Friday. Wedbush reaffirmed an “outperform” rating and set a $64.00 target price (down previously from $77.00) on shares of Myokardia in a research note on Thursday, August 9th. Zacks Investment Research raised Myokardia from a “sell” rating to a “hold” rating in a research note on Tuesday, August 14th. Finally, JPMorgan Chase & Co. lifted their target price on Myokardia from $80.00 to $81.00 and gave the company an “overweight” rating in a research note on Friday, August 10th.
NASDAQ MYOK opened at $60.75 on Wednesday. The stock has a market cap of $2.36 billion, a price-to-earnings ratio of -43.39 and a beta of 3.50. Myokardia has a 1 year low of $32.80 and a 1 year high of $63.00.
In other Myokardia news, insider Anastasios Gianakakos sold 3,000 shares of Myokardia stock in a transaction dated Monday, August 6th. The stock was sold at an average price of $57.47, for a total transaction of $172,410.00. Following the transaction, the insider now owns 77,949 shares of the company’s stock, valued at approximately $4,479,729.03. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Jake Bauer sold 7,500 shares of Myokardia stock in a transaction dated Monday, July 23rd. The shares were sold at an average price of $56.88, for a total value of $426,600.00. Following the transaction, the insider now directly owns 68,106 shares in the company, valued at approximately $3,873,869.28. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 16,500 shares of company stock worth $899,250. Company insiders own 33.40% of the company’s stock.
Several hedge funds and other institutional investors have recently made changes to their positions in the stock. FMR LLC grew its stake in shares of Myokardia by 11.2% in the 2nd quarter. FMR LLC now owns 5,990,112 shares of the biotechnology company’s stock valued at $297,409,000 after buying an additional 601,567 shares in the last quarter. BlackRock Inc. grew its stake in shares of Myokardia by 45.6% in the 2nd quarter. BlackRock Inc. now owns 2,627,459 shares of the biotechnology company’s stock valued at $130,454,000 after buying an additional 822,404 shares in the last quarter. Partner Fund Management L.P. grew its stake in shares of Myokardia by 91.5% in the 2nd quarter. Partner Fund Management L.P. now owns 1,819,315 shares of the biotechnology company’s stock valued at $90,329,000 after buying an additional 869,404 shares in the last quarter. Farallon Capital Management LLC grew its stake in shares of Myokardia by 20.3% in the 1st quarter. Farallon Capital Management LLC now owns 1,039,278 shares of the biotechnology company’s stock valued at $50,717,000 after buying an additional 175,546 shares in the last quarter. Finally, Hillhouse Capital Management Ltd. grew its stake in shares of Myokardia by 13.2% in the 2nd quarter. Hillhouse Capital Management Ltd. now owns 858,340 shares of the biotechnology company’s stock valued at $42,617,000 after buying an additional 100,000 shares in the last quarter. 77.17% of the stock is owned by institutional investors and hedge funds.
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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