MyoKardia (NASDAQ:MYOK) was downgraded by equities research analysts at ValuEngine from a “hold” rating to a “sell” rating in a report released on Friday.

Several other research analysts have also recently issued reports on MYOK. BidaskClub upgraded shares of MyoKardia from a “buy” rating to a “strong-buy” rating in a report on Saturday, August 5th. Wells Fargo & Company reiterated an “outperform” rating and set a $48.00 target price (up from $31.00) on shares of MyoKardia in a report on Monday, August 7th. Cowen increased their target price on shares of MyoKardia from $28.00 to $56.00 and gave the stock an “outperform” rating in a report on Monday, August 7th. BMO Capital Markets reiterated a “buy” rating and set a $45.00 target price (up from $32.00) on shares of MyoKardia in a report on Tuesday, August 8th. Finally, Credit Suisse Group reiterated an “outperform” rating and set a $55.00 target price (up from $45.00) on shares of MyoKardia in a report on Tuesday, September 19th. One research analyst has rated the stock with a sell rating, one has issued a hold rating, five have issued a buy rating and one has given a strong buy rating to the company’s stock. MyoKardia has an average rating of “Buy” and a consensus price target of $55.00.

Shares of MyoKardia (MYOK) traded up $1.40 during trading on Friday, reaching $38.15. 281,653 shares of the company’s stock traded hands, compared to its average volume of 316,332. MyoKardia has a one year low of $10.55 and a one year high of $49.55.

MyoKardia (NASDAQ:MYOK) last issued its earnings results on Thursday, November 2nd. The biotechnology company reported ($0.42) earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of ($0.42). MyoKardia had a negative net margin of 53.49% and a negative return on equity of 14.92%. The company had revenue of $5.63 million for the quarter, compared to analysts’ expectations of $6.10 million. During the same period in the prior year, the business earned ($0.35) EPS. The firm’s quarterly revenue was up 58.6% on a year-over-year basis. equities analysts anticipate that MyoKardia will post -1.62 earnings per share for the current year.

In other news, Director Kevin P. Starr sold 601,400 shares of the firm’s stock in a transaction dated Tuesday, September 26th. The shares were sold at an average price of $43.00, for a total value of $25,860,200.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, major shareholder Rock Ventures Ii L.P. Third sold 221,250 shares of the firm’s stock in a transaction dated Monday, September 11th. The shares were sold at an average price of $41.30, for a total transaction of $9,137,625.00. The disclosure for this sale can be found here. Insiders sold a total of 1,713,513 shares of company stock worth $72,678,568 over the last 90 days. Company insiders own 33.40% of the company’s stock.

Several large investors have recently added to or reduced their stakes in the company. GSA Capital Partners LLP bought a new stake in shares of MyoKardia in the 3rd quarter valued at about $1,478,000. Cubist Systematic Strategies LLC bought a new stake in shares of MyoKardia in the 3rd quarter valued at about $355,000. RTW Investments LP bought a new stake in shares of MyoKardia in the 3rd quarter valued at about $10,882,000. VHCP Management II LLC bought a new stake in shares of MyoKardia in the 3rd quarter valued at about $11,355,000. Finally, Dimensional Fund Advisors LP purchased a new position in shares of MyoKardia in the 3rd quarter valued at approximately $212,000. Institutional investors and hedge funds own 63.50% 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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Analyst Recommendations for MyoKardia (NASDAQ:MYOK)

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