Myokardia (MYOK) Upgraded to Buy by BidaskClub
Myokardia (NASDAQ:MYOK) was upgraded by equities research analysts at BidaskClub from a “hold” rating to a “buy” rating in a research report issued on Thursday.
MYOK has been the subject of a number of other reports. Citigroup lowered their target price on Myokardia from $90.00 to $70.00 and set a “buy” rating for the company in a research note on Thursday, January 3rd. Credit Suisse Group lowered their target price on Myokardia from $73.00 to $71.00 and set an “outperform” rating for the company in a research note on Friday, January 4th. Zacks Investment Research cut Myokardia from a “buy” rating to a “hold” rating in a research note on Tuesday, January 8th. ValuEngine cut Myokardia from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, January 15th. Finally, BMO Capital Markets assumed coverage on Myokardia in a research note on Friday, February 22nd. They set an “outperform” rating and a $85.00 target price for the company. One investment analyst has rated the stock with a sell rating and twelve have issued a buy rating to the company’s stock. Myokardia currently has a consensus rating of “Buy” and a consensus price target of $75.27.
Shares of MYOK stock opened at $54.50 on Thursday. The stock has a market capitalization of $2.19 billion, a PE ratio of -30.97 and a beta of 2.47. Myokardia has a one year low of $39.01 and a one year high of $67.79.
In other news, CEO Anastasios Gianakakos sold 2,770 shares of the firm’s stock in a transaction that occurred on Monday, January 7th. The shares were sold at an average price of $44.11, for a total transaction of $122,184.70. Following the completion of the transaction, the chief executive officer now directly owns 76,967 shares of the company’s stock, valued at approximately $3,395,014.37. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Sanofi sold 4,168,899 shares of the firm’s stock in a transaction that occurred on Wednesday, February 13th. The stock was sold at an average price of $37.66, for a total transaction of $157,000,736.34. The disclosure for this sale can be found here. 4.70% of the stock is currently owned by corporate insiders.
Several institutional investors and hedge funds have recently modified their holdings of MYOK. Hillhouse Capital Advisors Ltd. bought a new position in shares of Myokardia during the 4th quarter worth approximately $41,938,000. Vanguard Group Inc grew its stake in shares of Myokardia by 32.8% during the 3rd quarter. Vanguard Group Inc now owns 2,995,821 shares of the biotechnology company’s stock worth $195,328,000 after acquiring an additional 740,607 shares in the last quarter. Vanguard Group Inc. grew its stake in shares of Myokardia by 32.8% during the 3rd quarter. Vanguard Group Inc. now owns 2,995,821 shares of the biotechnology company’s stock worth $195,328,000 after acquiring an additional 740,607 shares in the last quarter. BB Biotech AG grew its stake in shares of Myokardia by 72.0% during the 4th quarter. BB Biotech AG now owns 877,266 shares of the biotechnology company’s stock worth $42,863,000 after acquiring an additional 367,266 shares in the last quarter. Finally, Orbimed Advisors LLC bought a new position in shares of Myokardia during the 4th quarter worth approximately $16,373,000. 90.21% of the stock is owned by institutional investors.
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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