Myokardia Inc (MYOK) Expected to Announce Earnings of -$0.46 Per Share

Analysts predict that Myokardia Inc (NASDAQ:MYOK) will report earnings of ($0.46) per share for the current fiscal quarter, Zacks reports. Two analysts have made estimates for Myokardia’s earnings, with estimates ranging from ($0.57) to ($0.34). Myokardia posted earnings per share of ($0.41) during the same quarter last year, which indicates a negative year-over-year growth rate of 12.2%. The company is expected to issue its next quarterly earnings report on Monday, August 6th.

According to Zacks, analysts expect that Myokardia will report full year earnings of ($1.72) per share for the current year, with EPS estimates ranging from ($2.45) to ($1.08). For the next financial year, analysts forecast that the firm will post earnings of ($2.70) per share, with EPS estimates ranging from ($3.84) to ($1.33). Zacks’ EPS calculations are an average based on a survey of research firms that that provide coverage for Myokardia.

Myokardia (NASDAQ:MYOK) last issued its quarterly earnings results on Tuesday, May 8th. The biotechnology company reported ($0.50) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.29) by ($0.21). Myokardia had a negative return on equity of 25.18% and a negative net margin of 235.47%. The firm had revenue of $5.33 million for the quarter, compared to analysts’ expectations of $7.82 million.

Several brokerages recently commented on MYOK. BidaskClub upgraded Myokardia from a “hold” rating to a “buy” rating in a research report on Saturday, February 17th. BMO Capital Markets boosted their price target on Myokardia from $65.00 to $83.00 and gave the stock an “outperform” rating in a research report on Friday, March 9th. Credit Suisse Group boosted their price target on Myokardia from $60.00 to $68.00 and gave the stock an “outperform” rating in a research report on Friday, March 9th. Wedbush boosted their price target on Myokardia from $51.00 to $69.00 and gave the stock an “outperform” rating in a research report on Friday, March 9th. Finally, Cowen reiterated a “buy” rating and set a $56.00 price target on shares of Myokardia in a research report on Friday, March 9th. One research analyst has rated the stock with a hold rating and eight have given a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $67.29.

In other Myokardia news, insider Anastasios Gianakakos sold 3,000 shares of the company’s stock in a transaction on Wednesday, April 4th. The stock was sold at an average price of $47.95, for a total value of $143,850.00. Following the completion of the sale, the insider now directly owns 77,390 shares in the company, valued at approximately $3,710,850.50. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Jake Bauer sold 5,000 shares of the company’s stock in a transaction on Wednesday, April 11th. The shares were sold at an average price of $50.00, for a total value of $250,000.00. Following the completion of the sale, the insider now owns 66,777 shares of the company’s stock, valued at $3,338,850. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 15,683 shares of company stock valued at $760,121. 4.70% of the stock is owned by company insiders.

A number of large investors have recently modified their holdings of MYOK. SG Americas Securities LLC purchased a new stake in Myokardia in the 4th quarter valued at $185,000. Dimensional Fund Advisors LP acquired a new position in shares of Myokardia in the 3rd quarter valued at $212,000. Jane Street Group LLC acquired a new position in shares of Myokardia in the 4th quarter valued at $213,000. California Public Employees Retirement System acquired a new position in shares of Myokardia in the 1st quarter valued at $242,000. Finally, GSA Capital Partners LLP acquired a new position in shares of Myokardia in the 1st quarter valued at $288,000. Institutional investors own 84.02% of the company’s stock.

Shares of MYOK traded down $0.10 during trading hours on Thursday, hitting $48.75. 41,205 shares of the stock were exchanged, compared to its average volume of 452,699. Myokardia has a 12-month low of $12.60 and a 12-month high of $62.83. The stock has a market capitalization of $1.71 billion, a price-to-earnings ratio of -34.46 and a beta of 3.53.

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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