Analysts Expect Myokardia Inc (MYOK) Will Announce Quarterly Sales of $7.57 Million

Equities research analysts expect Myokardia Inc (NASDAQ:MYOK) to announce $7.57 million in sales for the current fiscal quarter, Zacks reports. Two analysts have issued estimates for Myokardia’s earnings. The highest sales estimate is $9.50 million and the lowest is $5.63 million. Myokardia reported sales of $5.63 million in the same quarter last year, which indicates a positive year over year growth rate of 34.5%. The business is expected to report its next quarterly earnings report on Thursday, November 1st.

On average, analysts expect that Myokardia will report full-year sales of $26.73 million for the current financial year, with estimates ranging from $23.22 million to $32.97 million. For the next year, analysts anticipate that the company will report sales of $37.00 million per share, with estimates ranging from $24.00 million to $50.00 million. Zacks Investment Research’s sales averages are a mean average based on a survey of analysts that that provide coverage for Myokardia.

Myokardia (NASDAQ:MYOK) last released its quarterly earnings data on Wednesday, August 8th. The biotechnology company reported ($0.49) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.50) by $0.01. The business had revenue of $6.64 million for the quarter, compared to analysts’ expectations of $6.32 million. Myokardia had a negative return on equity of 21.16% and a negative net margin of 249.22%.

MYOK has been the topic of a number of research reports. Bank of America initiated coverage on Myokardia in a research report on Tuesday, July 10th. They set a “buy” rating and a $71.00 price objective on the stock. BidaskClub cut Myokardia from a “hold” rating to a “sell” rating in a research report on Saturday, May 12th. Zacks Investment Research cut Myokardia from a “buy” rating to a “hold” rating in a research report on Friday, May 11th. Cowen restated a “buy” rating and set a $73.00 price objective on shares of Myokardia in a research report on Tuesday, May 22nd. Finally, ValuEngine upgraded Myokardia from a “hold” rating to a “buy” rating in a research report on Saturday, June 2nd. One investment analyst has rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $71.13.

MYOK opened at $57.05 on Friday. The company has a market cap of $2.40 billion, a PE ratio of -40.75 and a beta of 3.50. Myokardia has a 1 year low of $32.80 and a 1 year high of $63.00.

In other Myokardia news, insider Anastasios Gianakakos sold 3,000 shares of the company’s stock in a transaction on Monday, June 4th. The stock was sold at an average price of $46.95, for a total value of $140,850.00. Following the sale, the insider now directly owns 77,949 shares in the company, valued at $3,659,705.55. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Sanofi purchased 150,000 shares of the stock in a transaction on Friday, May 25th. The stock was bought at an average price of $49.00 per share, for a total transaction of $7,350,000.00. The disclosure for this purchase can be found here. Insiders sold 16,500 shares of company stock worth $899,250 over the last quarter. Company insiders own 4.70% of the company’s stock.

Large investors have recently made changes to their positions in the business. Great West Life Assurance Co. Can grew its position in Myokardia by 92.7% in the second quarter. Great West Life Assurance Co. Can now owns 3,276 shares of the biotechnology company’s stock valued at $163,000 after acquiring an additional 1,576 shares during the period. SG Americas Securities LLC bought a new stake in Myokardia in the second quarter valued at $191,000. Jane Street Group LLC bought a new stake in Myokardia in the fourth quarter valued at $213,000. Amalgamated Bank bought a new stake in Myokardia in the second quarter valued at $231,000. Finally, California Public Employees Retirement System acquired a new position in Myokardia in the first quarter worth $242,000. Hedge funds and other institutional investors own 84.32% of the company’s stock.

Myokardia Company Profile

MyoKardia, Inc, a clinical stage biopharmaceutical company, discovers, develops, and commercializes therapies for the treatment of rare cardiovascular diseases. Its lead product candidate is mavacamten, an orally administered small molecule, which has completed Phase II clinical trial that is designed to reduce left ventricular contractility to potentially alleviate the functional consequences and symptoms of hypertrophic cardiomyopathy (HCM) and prevent or reverse HCM progression.

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Earnings History and Estimates for Myokardia (NASDAQ:MYOK)

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