Recent Analysts’ Ratings Updates for Myokardia (MYOK)

A number of research firms have changed their ratings and price targets for Myokardia (NASDAQ: MYOK):

  • 5/15/2019 – Myokardia was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. According to Zacks, “MyoKardia, Inc. is a biopharmaceutical company. The company focuses on discovering, developing, and commercializing therapies for the treatment of serious and neglected rare cardiovascular diseases. Its product candidate consists of MYK-461, a small molecule to reduce excessive cardiac muscle contractility leading to hypertrophic cardiomyopathy, DCM-1, treats heritable dilated cardiomyopathy by restoring normal contractility in the diseased DCM heart, HCM-2, a product candidate to reduce cardiac muscle contractility to normal levels in HCM patients and LUS-1, which is intended to counteract a muscle disruption that results in impaired relaxation of the heart, which are in different clinical trial. MyoKardia, Inc. is headquartered in San Francisco, California. “
  • 5/9/2019 – Myokardia had its “buy” rating reaffirmed by analysts at Cantor Fitzgerald. They now have a $90.00 price target on the stock. They wrote, “: 12-month price target of $90. MYOK reported earnings this evening and an increased cash balance of ~ $630M after raising capital in 1Q19. We think that the company is well-capitalized to take advantage of its research discovery platform. One key update today was that the MAVERICK study (non-obstructive) has completed enrollment. We expect that this study will be an important catalyst for the company in 4Q19; we still think that current share levels do not reflect credit for non-obstructive. We still see additional pipeline catalysts beyond mavacamten in obstructive in 2H 2019 that keep us very positive on shares at the current level.””
  • 5/9/2019 – Myokardia was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $52.00 price target on the stock. According to Zacks, “MyoKardia, Inc. is a biopharmaceutical company. The company focuses on discovering, developing, and commercializing therapies for the treatment of serious and neglected rare cardiovascular diseases. Its product candidate consists of MYK-461, a small molecule to reduce excessive cardiac muscle contractility leading to hypertrophic cardiomyopathy, DCM-1, treats heritable dilated cardiomyopathy by restoring normal contractility in the diseased DCM heart, HCM-2, a product candidate to reduce cardiac muscle contractility to normal levels in HCM patients and LUS-1, which is intended to counteract a muscle disruption that results in impaired relaxation of the heart, which are in different clinical trial. MyoKardia, Inc. is headquartered in San Francisco, California. “
  • 4/30/2019 – Myokardia was upgraded by analysts at BidaskClub from a “sell” rating to a “hold” rating.
  • 4/19/2019 – Myokardia was downgraded by analysts at BidaskClub from a “hold” rating to a “sell” rating.
  • 4/11/2019 – Myokardia was downgraded by analysts at ValuEngine from a “strong-buy” rating to a “buy” rating.
  • 4/5/2019 – Myokardia was upgraded by analysts at ValuEngine from a “buy” rating to a “strong-buy” rating.
  • 4/4/2019 – Myokardia was upgraded by analysts at TheStreet from a “d+” rating to a “c-” rating.
  • 3/29/2019 – Myokardia was downgraded by analysts at BidaskClub from a “buy” rating to a “hold” rating.
  • 3/21/2019 – Myokardia was upgraded by analysts at BidaskClub from a “hold” rating to a “buy” rating.

Shares of NASDAQ:MYOK traded up $0.72 during midday trading on Wednesday, reaching $48.12. The company’s stock had a trading volume of 6,217 shares, compared to its average volume of 440,373. The company has a market capitalization of $2.19 billion, a PE ratio of -27.34 and a beta of 2.32. Myokardia Inc has a 12-month low of $39.01 and a 12-month high of $67.79.

Myokardia (NASDAQ:MYOK) last released its earnings results on Thursday, May 9th. The biotechnology company reported ($0.93) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.65) by ($0.28). Myokardia had a negative return on equity of 19.98% and a negative net margin of 201.81%. As a group, analysts expect that Myokardia Inc will post -3.22 EPS for the current fiscal year.

In other news, CFO Taylor C. Harris sold 1,324 shares of the company’s stock in a transaction dated Friday, April 5th. The shares were sold at an average price of $53.30, for a total value of $70,569.20. Following the sale, the chief financial officer now directly owns 3,750 shares of the company’s stock, valued at approximately $199,875. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 4.70% of the stock is owned by corporate insiders.

A number of hedge funds have recently made changes to their positions in the stock. Advisor Group Inc. lifted its holdings in shares of Myokardia by 172.0% in the 4th quarter. Advisor Group Inc. now owns 514 shares of the biotechnology company’s stock valued at $25,000 after buying an additional 325 shares during the period. Meeder Asset Management Inc. raised its holdings in Myokardia by 309.1% during the first quarter. Meeder Asset Management Inc. now owns 540 shares of the biotechnology company’s stock worth $28,000 after purchasing an additional 408 shares during the last quarter. Bank of Montreal Can raised its holdings in Myokardia by 71.2% during the fourth quarter. Bank of Montreal Can now owns 553 shares of the biotechnology company’s stock worth $27,000 after purchasing an additional 230 shares during the last quarter. Group One Trading L.P. acquired a new position in Myokardia during the fourth quarter worth $31,000. Finally, Hsbc Holdings PLC acquired a new position in Myokardia during the first quarter worth $205,000. 79.88% of the stock is currently owned by institutional investors.

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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