Myokardia (NASDAQ:MYOK) posted its earnings results on Thursday. The biotechnology company reported ($0.93) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.65) by ($0.28), Morningstar.com reports. Myokardia had a negative net margin of 201.81% and a negative return on equity of 23.06%.
MYOK stock traded down $0.98 during trading on Friday, hitting $46.97. The stock had a trading volume of 821,493 shares, compared to its average volume of 396,966. Myokardia has a twelve month low of $39.01 and a twelve month high of $67.79. The stock has a market cap of $2.21 billion, a price-to-earnings ratio of -26.69 and a beta of 2.32.
In other Myokardia news, major shareholder Sanofi sold 4,168,899 shares of the firm’s stock in a transaction that occurred on Wednesday, February 13th. The shares were sold at an average price of $37.66, for a total value of $157,000,736.34. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Taylor C. Harris sold 1,324 shares of the firm’s stock in a transaction that occurred on Friday, April 5th. The stock was sold at an average price of $53.30, for a total transaction of $70,569.20. Following the completion of the transaction, the chief financial officer now directly owns 3,750 shares in the company, valued at $199,875. The disclosure for this sale can be found here. Insiders own 4.70% of the company’s stock.
Several equities research analysts recently issued reports on the company. BidaskClub cut Myokardia from a “hold” rating to a “sell” rating in a report on Saturday, February 9th. TheStreet upgraded Myokardia from a “d+” rating to a “c-” rating in a report on Thursday, April 4th. Zacks Investment Research cut Myokardia from a “hold” rating to a “sell” rating in a report on Tuesday, March 5th. ValuEngine upgraded Myokardia from a “buy” rating to a “strong-buy” rating in a report on Friday, April 5th. Finally, BMO Capital Markets assumed coverage on Myokardia in a report on Friday, February 22nd. They issued an “outperform” rating and a $85.00 price objective on the stock. One investment analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $74.70.
MyoKardia, Inc, a clinical stage biopharmaceutical company, discovers, develops, and commercializes targeted therapies for the treatment of serious and neglected rare cardiovascular diseases. Its lead product candidate is mavacamten, an orally administered small molecule, which is in Phase III clinical trial that is designed to reduce left ventricular contractility to alleviate the functional consequences and symptoms of obstructive hypertrophic cardiomyopathy (HCM) and prevent or reverse HCM progression, as well as in Phase II clinical trial for non-obstructive HCM.
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