MyoKardia, Inc. (NASDAQ:MYOK) Given “Outperform” Rating at Wells Fargo & Company
MyoKardia, Inc. (NASDAQ:MYOK)‘s stock had its “outperform” rating reaffirmed by investment analysts at Wells Fargo & Company in a research report issued on Monday, The Fly reports. They currently have a $48.00 target price on the biotechnology company’s stock, up from their previous target price of $31.00. Wells Fargo & Company’s price target would indicate a potential upside of 179.88% from the stock’s current price.
A number of other equities analysts also recently issued reports on the stock. BidaskClub raised shares of MyoKardia from a “buy” rating to a “strong-buy” rating in a report on Saturday. TheStreet raised shares of MyoKardia from a “d+” rating to a “c” rating in a report on Thursday, July 6th. Zacks Investment Research downgraded shares of MyoKardia from a “hold” rating to a “sell” rating in a report on Thursday, May 11th. Finally, BMO Capital Markets reaffirmed an “outperform” rating and set a $32.00 price objective on shares of MyoKardia in a report on Wednesday, May 10th. One equities research analyst has rated the stock with a sell rating, four have issued a buy rating and one has given a strong buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $29.40.
MyoKardia (NASDAQ MYOK) traded up 83.38% during mid-day trading on Monday, reaching $31.45. 4,265,648 shares of the company’s stock traded hands. The company has a 50 day moving average price of $14.02 and a 200-day moving average price of $13.13. The stock’s market cap is $989.26 million. MyoKardia has a 12 month low of $10.55 and a 12 month high of $32.00.
MyoKardia (NASDAQ:MYOK) last posted its quarterly earnings data on Monday, August 7th. The biotechnology company reported ($0.41) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.37) by $0.04. The firm had revenue of $5.60 million for the quarter, compared to analysts’ expectations of $6.73 million. MyoKardia had a negative return on equity of 15.27% and a negative net margin of 39.44%. MyoKardia’s revenue was up 60.0% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.37) earnings per share. On average, analysts anticipate that MyoKardia will post ($1.54) EPS for the current year.
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In other news, CEO Anastasios Gianakakos sold 4,300 shares of MyoKardia stock in a transaction on Friday, August 4th. The stock was sold at an average price of $16.62, for a total transaction of $71,466.00. Following the sale, the chief executive officer now directly owns 512,463 shares in the company, valued at approximately $8,517,135.06. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 46.10% of the company’s stock.
Several large investors have recently added to or reduced their stakes in the company. Bessemer Group Inc. acquired a new stake in MyoKardia during the fourth quarter worth approximately $114,000. Highbridge Capital Management LLC acquired a new stake in MyoKardia during the first quarter worth approximately $136,000. Aberdeen Asset Management PLC UK acquired a new stake in MyoKardia during the fourth quarter worth approximately $144,000. A.R.T. Advisors LLC acquired a new stake in MyoKardia during the fourth quarter worth approximately $148,000. Finally, State of Wisconsin Investment Board acquired a new stake in MyoKardia during the second quarter worth approximately $157,000. Institutional investors own 47.74% of the company’s stock.
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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