MyoKardia, Inc. (NASDAQ:MYOK) Posts Quarterly Earnings Results, Misses Expectations By $0.04 EPS
MyoKardia, Inc. (NASDAQ:MYOK) released its quarterly earnings data on Monday. The biotechnology company reported ($0.41) earnings per share for the quarter, missing the consensus estimate of ($0.37) by $0.04, Bloomberg Earnings reports. The firm had revenue of $5.60 million during the quarter, compared to the consensus estimate of $6.73 million. MyoKardia had a negative net margin of 39.44% and a negative return on equity of 15.27%. The business’s revenue was up 60.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.37) earnings per share.
Shares of MyoKardia (NASDAQ:MYOK) opened at 17.15 on Monday. MyoKardia has a 52 week low of $10.55 and a 52 week high of $22.83. The stock’s 50 day moving average price is $14.02 and its 200-day moving average price is $13.13. The stock’s market cap is $539.45 million.
Several analysts recently weighed in on MYOK shares. BMO Capital Markets restated an “outperform” rating and issued a $32.00 price objective on shares of MyoKardia in a report on Wednesday, May 10th. Zacks Investment Research lowered MyoKardia from a “hold” rating to a “sell” rating in a research note on Thursday, May 11th. TheStreet lowered MyoKardia from a “c-” rating to a “d+” rating in a research note on Friday, May 19th. Finally, BidaskClub upgraded MyoKardia from a “buy” rating to a “strong-buy” rating in a research note on Saturday. One equities research analyst has rated the stock with a sell rating, four have given a buy rating and one has given a strong buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $24.75.
In other MyoKardia news, CEO Anastasios Gianakakos sold 4,300 shares of the stock in a transaction dated Friday, August 4th. The stock was sold at an average price of $16.62, for a total value of $71,466.00. Following the sale, the chief executive officer now owns 512,463 shares of the company’s stock, valued at approximately $8,517,135.06. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 46.10% of the stock is owned by company insiders.
Large investors have recently bought and sold shares of the stock. Wellington Management Group LLP raised its stake in MyoKardia by 12.5% in the first quarter. Wellington Management Group LLP now owns 3,154,734 shares of the biotechnology company’s stock worth $41,485,000 after buying an additional 349,768 shares in the last quarter. MARSHALL WACE ASIA Ltd bought a new stake in MyoKardia during the first quarter worth about $1,577,000. Marshall Wace North America L.P. bought a new stake in MyoKardia during the first quarter worth about $1,577,000. Point72 Asset Management L.P. bought a new stake in MyoKardia during the first quarter worth about $1,546,000. Finally, TFS Capital LLC bought a new stake in MyoKardia during the first quarter worth about $934,000. 47.74% of the stock is currently owned by institutional investors.
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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