Myokardia (MYOK) Raised to Hold at BidaskClub
BidaskClub upgraded shares of Myokardia (NASDAQ:MYOK) from a sell rating to a hold rating in a research report released on Tuesday morning.
A number of other equities research analysts have also recently issued reports on the company. J P Morgan Chase & Co assumed coverage on Myokardia in a research note on Tuesday. They set an overweight rating and a $54.00 price objective on the stock. ValuEngine cut Myokardia from a hold rating to a sell rating in a research note on Friday, December 1st. TheStreet cut Myokardia from a c rating to a d+ rating in a research note on Friday, November 3rd. Zacks Investment Research upgraded Myokardia from a sell rating to a hold rating in a research note on Tuesday, October 17th. Finally, Wedbush restated an outperform rating and issued a $51.00 price target on shares of Myokardia in a research note on Wednesday, September 20th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and six have assigned a buy rating to the stock. Myokardia has an average rating of Buy and an average price target of $54.83.
Shares of Myokardia (MYOK) traded up $1.35 during trading on Tuesday, hitting $38.60. The stock had a trading volume of 487,700 shares, compared to its average volume of 323,906. Myokardia has a one year low of $10.55 and a one year high of $49.55.
Myokardia (NASDAQ:MYOK) last announced its quarterly earnings data on Thursday, November 2nd. The biotechnology company reported ($0.42) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.42). Myokardia had a negative return on equity of 14.92% and a negative net margin of 53.49%. The company had revenue of $5.63 million for the quarter, compared to analysts’ expectations of $6.10 million. During the same quarter in the prior year, the business posted ($0.35) EPS. The business’s revenue was up 58.6% compared to the same quarter last year. research analysts forecast that Myokardia will post -1.62 earnings per share for the current year.
In other Myokardia news, major shareholder Rock Ventures Ii L.P. Third sold 201,400 shares of the 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 transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Anastasios Gianakakos sold 4,300 shares of the stock in a transaction on Wednesday, October 4th. The stock was sold at an average price of $40.86, for a total value of $175,698.00. The disclosure for this sale can be found here. In the last 90 days, insiders sold 1,286,713 shares of company stock worth $55,102,695. 33.40% of the stock is owned by company insiders.
A number of hedge funds have recently bought and sold shares of MYOK. Vanguard Group Inc. increased its position in Myokardia by 8.9% during the 1st quarter. Vanguard Group Inc. now owns 686,119 shares of the biotechnology company’s stock worth $9,022,000 after buying an additional 55,927 shares during the period. Geode Capital Management LLC grew its holdings in shares of Myokardia by 10.7% during the 1st quarter. Geode Capital Management LLC now owns 134,730 shares of the biotechnology company’s stock worth $1,771,000 after purchasing an additional 13,057 shares in the last quarter. Schwab Charles Investment Management Inc. grew its holdings in shares of Myokardia by 5.8% during the 1st quarter. Schwab Charles Investment Management Inc. now owns 43,680 shares of the biotechnology company’s stock worth $575,000 after purchasing an additional 2,394 shares in the last quarter. Goldman Sachs Group Inc. grew its holdings in shares of Myokardia by 260.2% during the 1st quarter. Goldman Sachs Group Inc. now owns 56,400 shares of the biotechnology company’s stock worth $742,000 after purchasing an additional 40,744 shares in the last quarter. Finally, Rhumbline Advisers grew its holdings in shares of Myokardia by 45.4% during the 2nd quarter. Rhumbline Advisers now owns 18,489 shares of the biotechnology company’s stock worth $242,000 after purchasing an additional 5,773 shares in the last quarter. Hedge funds and other institutional investors own 63.61% of the company’s stock.
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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 result from biomechanical defects in cardiac muscle contraction. The Company is engaged in the business of developing and commercializing therapeutics.
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