MyoKardia, Inc. (MYOK) Raised to Strong-Buy at BidaskClub

MyoKardia, Inc. (NASDAQ:MYOK) was upgraded by equities research analysts at BidaskClub from a “buy” rating to a “strong-buy” rating in a research note issued to investors on Saturday, August 5th.

Other analysts have also recently issued reports about the company. TheStreet upgraded MyoKardia from a “d+” rating to a “c” rating in a report on Thursday, July 6th. BMO Capital Markets reiterated an “outperform” rating and issued a $32.00 target price on shares of MyoKardia in a report on Wednesday, May 10th. Finally, Zacks Investment Research cut MyoKardia from a “hold” rating to a “sell” rating in a report on Thursday, May 11th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. MyoKardia presently has an average rating of “Buy” and an average target price of $37.60.

Shares of MyoKardia (NASDAQ:MYOK) traded down 7.184% during mid-day trading on Friday, hitting $40.375. 942,622 shares of the company were exchanged. MyoKardia has a 12-month low of $10.55 and a 12-month high of $44.28. The company’s market capitalization is $1.27 billion. The firm has a 50 day moving average of $21.23 and a 200 day moving average of $15.10.

MyoKardia (NASDAQ:MYOK) last announced its earnings results on Monday, August 7th. The biotechnology company reported ($0.41) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.37) by $0.04. MyoKardia had a negative net margin of 44.65% and a negative return on equity of 16.35%. The company had revenue of $5.60 million during the quarter, compared to the consensus estimate of $6.73 million. During the same quarter in the previous year, the company earned ($0.37) earnings per share. The business’s revenue was up 60.0% on a year-over-year basis. Equities research analysts forecast that MyoKardia will post ($1.64) earnings per share for the current year.

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In other MyoKardia news, insider Joseph Lambing sold 5,000 shares of the stock in a transaction that occurred on Tuesday, August 15th. The stock was sold at an average price of $40.00, for a total transaction of $200,000.00. Following the transaction, the insider now directly owns 104,718 shares in the company, valued at approximately $4,188,720. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Wendy L. Yarno bought 1,408 shares of the stock in a transaction dated Monday, August 14th. The shares were purchased at an average cost of $35.50 per share, for a total transaction of $49,984.00. Following the completion of the transaction, the director now directly owns 1,408 shares of the company’s stock, valued at $49,984. The disclosure for this purchase can be found here. Insiders have sold a total of 72,288 shares of company stock worth $1,641,236 over the last 90 days. Company insiders own 46.10% of the company’s stock.

Institutional investors have recently modified their holdings of the company. Nationwide Fund Advisors raised its position in shares of MyoKardia by 36.3% in the second quarter. Nationwide Fund Advisors now owns 9,729 shares of the biotechnology company’s stock worth $127,000 after buying an additional 2,591 shares during the last quarter. Highbridge Capital Management LLC purchased a new position in shares of MyoKardia during the first quarter worth $136,000. Alliancebernstein L.P. purchased a new position in shares of MyoKardia during the second quarter worth $148,000. State of Wisconsin Investment Board purchased a new position in shares of MyoKardia during the second quarter worth $157,000. Finally, Daiwa SB Investments Ltd. purchased a new position in shares of MyoKardia during the first quarter worth $170,000. 47.63% of the stock is currently owned by institutional investors.

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.

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