Myokardia (NASDAQ:MYOK) Upgraded at BidaskClub

Myokardia (NASDAQ:MYOK) was upgraded by analysts at BidaskClub from a “sell” rating to a “hold” rating in a report released on Tuesday, December 26th.

A number of other equities analysts also recently weighed in on MYOK. Credit Suisse Group reaffirmed an “outperform” rating and set a $55.00 price target (up previously from $45.00) on shares of Myokardia in a research note on Tuesday, September 19th. Wedbush reissued an “outperform” rating and issued a $51.00 price objective on shares of Myokardia in a research report on Wednesday, September 20th. Zacks Investment Research lowered shares of Myokardia from a “hold” rating to a “sell” rating in a research report on Wednesday, October 11th. TheStreet lowered shares of Myokardia from a “c” rating to a “d+” rating in a research report on Friday, November 3rd. Finally, ValuEngine lowered shares of Myokardia from a “hold” rating to a “sell” rating in a research report on Friday, December 1st. Two investment analysts have rated the stock with a sell rating, one has given a hold rating and six have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $54.83.

Myokardia (NASDAQ MYOK) opened at $52.90 on Tuesday. The firm has a market cap of $1,890.00 and a P/E ratio of -71.49. Myokardia has a one year low of $10.55 and a one year high of $53.25.

Myokardia (NASDAQ:MYOK) last posted its quarterly earnings results on Thursday, November 2nd. The biotechnology company reported ($0.42) earnings per share for the quarter, hitting the Zacks’ consensus estimate of ($0.42). The company had revenue of $5.63 million for the quarter, compared to the consensus estimate of $6.10 million. Myokardia had a negative net margin of 53.49% and a negative return on equity of 14.92%. Myokardia’s revenue was up 58.6% on a year-over-year basis. During the same quarter last year, the firm posted ($0.35) earnings per share. analysts predict that Myokardia will post -1.62 earnings per share for the current fiscal year.

In related news, insider Anastasios Gianakakos sold 3,000 shares of the firm’s stock in a transaction on Thursday, December 21st. The shares were sold at an average price of $41.09, for a total transaction of $123,270.00. Following the completion of the sale, the insider now directly owns 512,117 shares of the company’s stock, valued at approximately $21,042,887.53. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Kevin P. Starr sold 816,326 shares of the firm’s stock in a transaction on Wednesday, January 3rd. The shares were 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 have sold 836,626 shares of company stock valued at $35,146,501. Company insiders own 33.40% of the company’s stock.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in MYOK. Vanguard Group Inc. grew its holdings in Myokardia by 8.9% during the 1st quarter. Vanguard Group Inc. now owns 686,119 shares of the biotechnology company’s stock valued at $9,022,000 after purchasing an additional 55,927 shares in the last quarter. Geode Capital Management LLC grew its holdings in Myokardia by 10.7% during the 1st quarter. Geode Capital Management LLC now owns 134,730 shares of the biotechnology company’s stock valued at $1,771,000 after purchasing an additional 13,057 shares in the last quarter. Schwab Charles Investment Management Inc. grew its holdings in Myokardia by 5.8% during the 1st quarter. Schwab Charles Investment Management Inc. now owns 43,680 shares of the biotechnology company’s stock valued at $575,000 after purchasing an additional 2,394 shares in the last quarter. Rhumbline Advisers grew its holdings in Myokardia by 45.4% during the 2nd quarter. Rhumbline Advisers now owns 18,489 shares of the biotechnology company’s stock valued at $242,000 after purchasing an additional 5,773 shares in the last quarter. Finally, State of Wisconsin Investment Board acquired a new stake in Myokardia during the 2nd quarter valued at $157,000. 63.61% of the stock is owned by institutional investors and hedge funds.

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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.

Analyst Recommendations for Myokardia (NASDAQ:MYOK)

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