Myokardia (NASDAQ:MYOK) was upgraded by BidaskClub from a “sell” rating to a “hold” rating in a report issued on Tuesday.

Several other research analysts also recently issued reports on MYOK. ValuEngine downgraded shares of Myokardia from a “hold” rating to a “sell” rating in a report on Friday, December 1st. J P Morgan Chase & Co initiated coverage on Myokardia in a report on Tuesday. They issued an “overweight” rating and a $54.00 price objective for the company. Wedbush restated an “outperform” rating and issued a $51.00 price objective on shares of Myokardia in a report on Wednesday, September 20th. BMO Capital Markets restated an “outperform” rating and issued a $65.00 price objective (up from $45.00) on shares of Myokardia in a report on Monday, August 21st. Finally, Zacks Investment Research upgraded Myokardia from a “sell” rating to a “hold” rating in a report on Tuesday, October 17th. One analyst has rated the stock with a sell rating, two have given a hold rating and six have given a buy rating to the stock. Myokardia presently has an average rating of “Buy” and a consensus price target of $54.83.

Shares of Myokardia (NASDAQ MYOK) traded down $2.10 during trading hours on Tuesday, hitting $37.30. 312,338 shares of the stock traded hands, compared to its average volume of 322,188. Myokardia has a 52 week low of $10.55 and a 52 week high of $49.55.

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

In related news, Director Kevin P. Starr sold 601,400 shares of the stock in a transaction on Tuesday, September 26th. The stock was sold at an average price of $43.00, for a total value of $25,860,200.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Rock Ventures Ii L.P. Third sold 400,000 shares of the stock in a transaction on Tuesday, September 26th. The shares were sold at an average price of $43.00, for a total value of $17,200,000.00. The disclosure for this sale can be found here. Insiders sold 1,286,713 shares of company stock valued at $55,102,695 over the last 90 days. 33.40% of the stock is currently owned by company insiders.

Institutional investors and hedge funds have recently modified their holdings of the business. Quantbot Technologies LP bought a new stake in Myokardia during the third quarter valued at $202,000. Dimensional Fund Advisors LP bought a new stake in Myokardia during the third quarter valued at $212,000. Cubist Systematic Strategies LLC bought a new stake in Myokardia during the third quarter valued at $355,000. TD Asset Management Inc. bought a new stake in Myokardia during the third quarter valued at $364,000. Finally, Nationwide Fund Advisors boosted its position in Myokardia by 36.3% during the second quarter. Nationwide Fund Advisors now owns 9,729 shares of the biotechnology company’s stock valued at $127,000 after acquiring an additional 2,591 shares during the last quarter. 63.61% of the stock is currently owned by institutional investors and hedge funds.

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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.

Analyst Recommendations for Myokardia (NASDAQ:MYOK)

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