MyoKardia, Inc. (MYOK) Posts Quarterly Earnings Results, Meets Estimates
MyoKardia, Inc. (NASDAQ:MYOK) issued its earnings results on Thursday. The biotechnology company reported ($0.42) EPS for the quarter, meeting the consensus estimate of ($0.42), Bloomberg Earnings reports. The company had revenue of $5.63 million during the quarter, compared to analysts’ expectations of $6.10 million. MyoKardia had a negative net margin of 53.49% and a negative return on equity of 18.01%. The business’s revenue for the quarter was up 58.6% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.35) EPS.
Shares of MyoKardia (NASDAQ MYOK) traded up $3.20 during trading on Friday, hitting $42.20. 758,392 shares of the company traded hands, compared to its average volume of 342,821.
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In related news, insider Joseph Lambing sold 5,000 shares of MyoKardia stock in a transaction dated Tuesday, August 22nd. The stock was sold at an average price of $45.00, for a total value of $225,000.00. Following the completion of the transaction, the insider now directly owns 99,718 shares in the company, valued at $4,487,310. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Anastasios Gianakakos sold 4,300 shares of MyoKardia stock in a transaction dated 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. Insiders sold 1,749,213 shares of company stock valued at $73,805,529 over the last quarter. Insiders own 33.40% of the company’s stock.
MYOK has been the subject of several analyst reports. Credit Suisse Group restated an “outperform” rating and issued a $55.00 target price (up from $45.00) on shares of MyoKardia in a research report on Tuesday, September 19th. Zacks Investment Research cut shares of MyoKardia from a “hold” rating to a “sell” rating in a research report on Wednesday, October 11th. ValuEngine upgraded shares of MyoKardia from a “sell” rating to a “hold” rating in a research report on Monday, August 7th. Wedbush restated an “outperform” rating and issued a $51.00 target price on shares of MyoKardia in a research report on Wednesday, September 20th. Finally, BMO Capital Markets reaffirmed an “outperform” rating and set a $65.00 price target (up from $45.00) on shares of MyoKardia in a report on Monday, August 21st. Two investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $55.00.
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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