Myokardia (NASDAQ:MYOK) Lowered to “Hold” at BidaskClub

BidaskClub lowered shares of Myokardia (NASDAQ:MYOK) from a buy rating to a hold rating in a research report released on Saturday morning, BidAskClub reports.

Other equities research analysts have also recently issued research reports about the stock. Maxim Group reiterated an average rating on shares of Myokardia in a research report on Monday, October 28th. Morgan Stanley lifted their price objective on shares of Myokardia from $70.00 to $75.00 and gave the company an overweight rating in a research report on Tuesday, December 17th. Citigroup lifted their price objective on shares of Myokardia from $70.00 to $87.00 and gave the company a buy rating in a research report on Friday, December 20th. ValuEngine cut shares of Myokardia from a buy rating to a hold rating in a research report on Friday, January 3rd. Finally, Wells Fargo & Co boosted their price target on shares of Myokardia from $82.00 to $96.00 and gave the stock a positive rating in a research report on Friday, January 17th. Four investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. The company presently has an average rating of Buy and a consensus target price of $82.00.

Myokardia stock opened at $72.76 on Friday. The stock has a market cap of $3.43 billion, a P/E ratio of -13.94 and a beta of 2.07. Myokardia has a 1 year low of $39.01 and a 1 year high of $78.28. The firm’s 50 day moving average price is $70.70 and its 200-day moving average price is $58.99.

Myokardia (NASDAQ:MYOK) last released its quarterly earnings data on Monday, November 11th. The biotechnology company reported ($1.34) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.91) by $0.57. Sell-side analysts expect that Myokardia will post -5.03 earnings per share for the current fiscal year.

In other Myokardia news, CEO Anastasios Gianakakos sold 5,000 shares of Myokardia stock in a transaction on Monday, November 4th. The shares were sold at an average price of $59.07, for a total transaction of $295,350.00. Following the completion of the transaction, the chief executive officer now directly owns 96,514 shares of the company’s stock, valued at $5,701,081.98. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Taylor C. Harris sold 1,683 shares of Myokardia stock in a transaction on Monday, January 6th. The stock was sold at an average price of $68.45, for a total transaction of $115,201.35. Following the transaction, the chief financial officer now directly owns 4,993 shares of the company’s stock, valued at $341,770.85. The disclosure for this sale can be found here. Insiders sold 91,929 shares of company stock worth $6,197,464 in the last 90 days. 4.30% of the stock is currently owned by company insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of MYOK. BlackRock Inc. boosted its stake in Myokardia by 19.1% during the second quarter. BlackRock Inc. now owns 3,607,728 shares of the biotechnology company’s stock worth $180,892,000 after buying an additional 577,590 shares during the period. Primecap Management Co. CA purchased a new stake in shares of Myokardia during the second quarter valued at $13,523,000. Vanguard Group Inc. boosted its stake in shares of Myokardia by 6.6% during the second quarter. Vanguard Group Inc. now owns 3,715,719 shares of the biotechnology company’s stock valued at $186,307,000 after purchasing an additional 228,576 shares during the period. Nuveen Asset Management LLC boosted its stake in shares of Myokardia by 2,581.4% during the second quarter. Nuveen Asset Management LLC now owns 225,613 shares of the biotechnology company’s stock valued at $11,312,000 after purchasing an additional 217,199 shares during the period. Finally, Castleark Management LLC bought a new stake in shares of Myokardia in the third quarter valued at about $6,945,000.

About Myokardia

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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Analyst Recommendations for Myokardia (NASDAQ:MYOK)

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