Zacks: Analysts Anticipate Myokardia Inc (MYOK) Will Announce Quarterly Sales of $5.63 Million

Equities research analysts predict that Myokardia Inc (NASDAQ:MYOK) will post sales of $5.63 million for the current fiscal quarter, Zacks reports. Two analysts have issued estimates for Myokardia’s earnings. Myokardia posted sales of $28.55 million in the same quarter last year, which would indicate a negative year-over-year growth rate of 80.3%. The firm is scheduled to announce 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 year, with estimates ranging from $22.50 million to $25.00 million. For the next year, analysts anticipate that the business will post sales of $31.50 million per share, with estimates ranging from $22.50 million to $40.00 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research firms that that provide coverage for Myokardia.

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, meeting the consensus estimate of ($0.42). Myokardia had a negative net margin of 53.49% and a negative return on equity of 14.92%. The firm had revenue of $5.63 million during the quarter, compared to the consensus estimate of $6.10 million. During the same period last year, the firm posted ($0.35) EPS. The firm’s quarterly revenue was up 58.6% on a year-over-year basis.

Several brokerages recently issued reports on MYOK. BidaskClub downgraded shares of Myokardia from a “hold” rating to a “sell” rating in a report on Wednesday, December 20th. Zacks Investment Research raised shares of Myokardia from a “sell” rating to a “hold” rating in a report on Tuesday, October 17th. ValuEngine raised shares of Myokardia from a “sell” rating to a “hold” rating in a report on Friday, February 2nd. JPMorgan Chase & Co. started coverage on shares of Myokardia in a research note on Tuesday, December 12th. They issued an “overweight” rating and a $54.00 target price for the company. Finally, Credit Suisse Group reaffirmed an “outperform” rating and issued a $60.00 target price on shares of Myokardia in a research note on Thursday, January 18th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and six have given a buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $55.67.

In other Myokardia news, insider Anastasios Gianakakos sold 3,000 shares of the business’s stock in a transaction dated Thursday, December 21st. The shares were sold at an average price of $41.09, for a total value of $123,270.00. Following the completion of the transaction, the insider now directly owns 512,117 shares of the company’s stock, valued at $21,042,887.53. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Kevin P. Starr sold 816,326 shares of the business’s stock in a transaction dated Wednesday, January 3rd. The stock was sold at an average price of $42.00, for a total transaction of $34,285,692.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 840,326 shares of company stock valued at $35,376,662. Insiders own 33.40% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. raised its stake in shares of Myokardia by 11.5% in the second quarter. Vanguard Group Inc. now owns 764,919 shares of the biotechnology company’s stock worth $10,020,000 after acquiring an additional 78,800 shares during the last quarter. Wells Fargo & Company MN grew its position in shares of Myokardia by 2,151.7% during the 3rd quarter. Wells Fargo & Company MN now owns 417,439 shares of the biotechnology company’s stock worth $17,887,000 after buying an additional 398,900 shares during the period. VHCP Management II LLC acquired a new stake in shares of Myokardia during the 3rd quarter worth approximately $11,355,000. Fernwood Investment Management LLC grew its position in shares of Myokardia by 7.3% during the 4th quarter. Fernwood Investment Management LLC now owns 264,454 shares of the biotechnology company’s stock worth $11,134,000 after buying an additional 18,072 shares during the period. Finally, RTW Investments LP acquired a new stake in shares of Myokardia during the 3rd quarter worth approximately $10,882,000. 63.82% of the stock is owned by institutional investors.

Myokardia (NASDAQ MYOK) opened at $48.05 on Friday. Myokardia has a 1-year low of $10.80 and a 1-year high of $55.40. The stock has a market cap of $1,720.00 and a PE ratio of -64.93.

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About Myokardia

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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