Zacks: Analysts Expect Myokardia Inc (MYOK) Will Post Quarterly Sales of $5.63 Million

Equities analysts predict that Myokardia Inc (NASDAQ:MYOK) will post sales of $5.63 million for the current quarter, according to Zacks. Two analysts have issued estimates for Myokardia’s earnings. Myokardia posted sales of $28.55 million during the same quarter last year, which would indicate a negative year over year growth rate of 80.3%. The business is scheduled to report its next quarterly earnings results on Monday, March 12th.

On average, analysts expect that Myokardia will report full year sales of $5.63 million for the current financial year, with estimates ranging from $22.50 million to $25.00 million. For the next fiscal year, analysts expect that the business will report sales of $31.50 million per share, with estimates ranging from $22.50 million to $40.00 million. Zacks’ sales calculations are an average based on a survey of sell-side research analysts that cover Myokardia.

Myokardia (NASDAQ:MYOK) last posted its earnings results on Thursday, November 2nd. The biotechnology company reported ($0.42) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $6.10 million. During the same quarter in the previous year, the company posted ($0.35) earnings per share. Myokardia’s quarterly revenue was up 58.6% compared to the same quarter last year.

A number of research analysts have recently issued reports on MYOK shares. TheStreet cut shares of Myokardia from a “c” rating to a “d+” rating in a research note on Friday, November 3rd. BidaskClub upgraded shares of Myokardia from a “sell” rating to a “hold” rating in a research note on Tuesday, December 26th. Zacks Investment Research upgraded shares of Myokardia from a “sell” rating to a “hold” rating in a research note on Tuesday, October 17th. Wedbush reiterated an “outperform” rating and issued a $51.00 target price on shares of Myokardia in a research note on Wednesday, September 20th. Finally, Credit Suisse Group reissued an “outperform” rating and issued a $55.00 price target (up previously from $45.00) on shares of Myokardia in a report on Tuesday, September 19th. Two analysts have rated the stock with a sell rating, one has given a hold rating and six have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $54.83.

In related news, Director Kevin P. Starr sold 816,326 shares of the firm’s stock in a transaction that occurred on Wednesday, January 3rd. The shares were sold at an average price of $42.00, for a total value of $34,285,692.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Anastasios Gianakakos sold 3,000 shares of the firm’s stock in a transaction that occurred on Thursday, December 21st. The shares were sold at an average price of $41.09, for a total transaction of $123,270.00. Following the completion of the sale, the insider now directly owns 512,117 shares of the company’s stock, valued at approximately $21,042,887.53. The disclosure for this sale can be found here. In the last three months, insiders sold 831,626 shares of company stock valued at $34,921,501. 33.40% of the stock is currently owned by company insiders.

Several institutional investors have recently modified their holdings of MYOK. Quantbot Technologies LP acquired a new stake in Myokardia during the 3rd quarter worth $202,000. Dimensional Fund Advisors LP acquired a new stake in Myokardia during the 3rd quarter worth $212,000. Cubist Systematic Strategies LLC acquired a new stake in Myokardia during the 3rd quarter worth $355,000. TD Asset Management Inc. acquired a new stake in Myokardia during the 3rd quarter worth $364,000. Finally, Nationwide Fund Advisors grew its holdings in Myokardia by 36.3% during the 2nd quarter. Nationwide Fund Advisors now owns 9,729 shares of the biotechnology company’s stock worth $127,000 after acquiring an additional 2,591 shares during the period. 63.61% of the stock is owned by institutional investors and hedge funds.

Myokardia (NASDAQ MYOK) opened at $42.30 on Friday. Myokardia has a one year low of $10.55 and a one year high of $49.55. The stock has a market cap of $1,520.00 and a P/E ratio of -57.16.

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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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Earnings History and Estimates for Myokardia (NASDAQ:MYOK)

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