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. “
Other equities analysts have also issued research reports about the stock. JPMorgan Chase & Co. increased their price target on shares of Myokardia from $75.00 to $85.00 and gave the stock an overweight rating in a report on Monday, May 20th. Cantor Fitzgerald reaffirmed a buy rating and set a $90.00 target price on shares of Myokardia in a report on Thursday, May 9th. BidaskClub raised shares of Myokardia from a hold rating to a buy rating in a report on Wednesday, July 24th. Wedbush increased their target price on shares of Myokardia from $87.00 to $90.00 and gave the company an outperform rating in a report on Thursday, August 8th. Finally, Morgan Stanley set a $71.00 target price on shares of Myokardia and gave the company a buy rating in a report on Monday, July 15th. One equities research analyst has rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of Buy and a consensus target price of $76.89.
Shares of NASDAQ:MYOK opened at $56.19 on Tuesday. The business has a fifty day moving average of $51.94. The company has a market cap of $2.58 billion, a price-to-earnings ratio of -31.93 and a beta of 2.06. Myokardia has a one year low of $39.01 and a one year high of $67.79.
Myokardia (NASDAQ:MYOK) last issued its quarterly earnings results on Wednesday, August 7th. The biotechnology company reported ($0.83) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.79) by ($0.04). Myokardia had a negative return on equity of 22.02% and a negative net margin of 201.81%. On average, analysts anticipate that Myokardia will post -4.18 earnings per share for the current year.
In other Myokardia news, insider Anastasios Gianakakos sold 1,000 shares of the stock in a transaction on Monday, July 22nd. The shares were sold at an average price of $55.00, for a total transaction of $55,000.00. Following the completion of the sale, the insider now owns 111,470 shares of the company’s stock, valued at approximately $6,130,850. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP June Lee sold 4,565 shares of the stock in a transaction on Friday, August 9th. The shares were sold at an average price of $57.00, for a total transaction of $260,205.00. Following the sale, the executive vice president now directly owns 9,144 shares of the company’s stock, valued at approximately $521,208. The disclosure for this sale can be found here. Insiders have sold a total of 14,565 shares of company stock valued at $782,135 in the last three months. 4.30% of the stock is currently owned by corporate insiders.
A number of institutional investors and hedge funds have recently made changes to their positions in the business. Advisor Group Inc. lifted its position in shares of Myokardia by 172.0% in the 4th quarter. Advisor Group Inc. now owns 514 shares of the biotechnology company’s stock worth $25,000 after purchasing an additional 325 shares during the period. Meeder Asset Management Inc. lifted its position in shares of Myokardia by 309.1% in the 1st 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 period. Amundi Pioneer Asset Management Inc. purchased a new stake in shares of Myokardia in the 1st quarter worth about $68,000. Aperio Group LLC purchased a new stake in shares of Myokardia in the 2nd quarter worth about $92,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Myokardia by 39.3% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,803 shares of the biotechnology company’s stock worth $141,000 after acquiring an additional 791 shares in the last quarter. 99.72% of the stock is owned by institutional investors and hedge funds.
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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