Myokardia (MYOK) Downgraded by BidaskClub

BidaskClub cut shares of Myokardia (NASDAQ:MYOK) from a hold rating to a sell rating in a report issued on Wednesday.

A number of other brokerages have also weighed in on MYOK. Credit Suisse Group reissued an outperform rating and issued a $55.00 target price (up previously from $45.00) on shares of Myokardia in a research report on Tuesday, September 19th. TheStreet lowered Myokardia from a c rating to a d+ rating in a research report on Friday, November 3rd. Zacks Investment Research lowered Myokardia from a hold rating to a sell rating in a research report on Wednesday, October 11th. Wedbush restated an outperform rating and set a $51.00 price target on shares of Myokardia in a research note on Wednesday, September 20th. Finally, J P Morgan Chase & Co started coverage on Myokardia in a research note on Tuesday, December 12th. They set an overweight rating and a $54.00 price target for the company. Two research analysts have rated the stock with a sell rating, one has given a hold rating and six have assigned a buy rating to the stock. The stock presently has an average rating of Hold and a consensus target price of $54.83.

Myokardia (NASDAQ MYOK) opened at $42.85 on Wednesday. Myokardia has a 52-week low of $10.55 and a 52-week high of $49.55. The firm has a market capitalization of $1,600.00 and a PE ratio of -57.91.

Myokardia (NASDAQ:MYOK) last issued its 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). Myokardia had a negative return on equity of 14.92% and a negative net margin of 53.49%. The business had revenue of $5.63 million during the quarter, compared to analyst estimates of $6.10 million. During the same quarter in the previous year, the firm earned ($0.35) EPS. Myokardia’s revenue was up 58.6% on a year-over-year basis. analysts anticipate that Myokardia will post -1.62 earnings per share for the current year.

In related news, CEO Anastasios Gianakakos sold 4,300 shares of the business’s stock in a transaction that occurred on Monday, November 6th. The stock was sold at an average price of $40.23, for a total transaction of $172,989.00. Following the completion of the transaction, the chief executive officer now directly owns 513,417 shares in the company, valued at approximately $20,654,765.91. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, major shareholder Rock Ventures Ii L.P. Third sold 201,400 shares of the business’s stock in a transaction that occurred on Monday, September 25th. The shares were sold at an average price of $43.00, for a total value of $8,660,200.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,286,713 shares of company stock valued at $55,102,695. 33.40% of the stock is currently owned by corporate insiders.

A number of hedge funds have recently bought and sold shares of MYOK. Vanguard Group Inc. boosted its stake in Myokardia by 8.9% in the 1st quarter. Vanguard Group Inc. now owns 686,119 shares of the biotechnology company’s stock worth $9,022,000 after purchasing an additional 55,927 shares during the period. Geode Capital Management LLC boosted its stake in Myokardia by 10.7% in the 1st quarter. Geode Capital Management LLC now owns 134,730 shares of the biotechnology company’s stock worth $1,771,000 after purchasing an additional 13,057 shares during the period. Schwab Charles Investment Management Inc. boosted its stake in Myokardia by 5.8% in the 1st quarter. Schwab Charles Investment Management Inc. now owns 43,680 shares of the biotechnology company’s stock worth $575,000 after purchasing an additional 2,394 shares during the period. Rhumbline Advisers boosted its stake in Myokardia by 45.4% in the 2nd quarter. Rhumbline Advisers now owns 18,489 shares of the biotechnology company’s stock worth $242,000 after purchasing an additional 5,773 shares during the period. Finally, State of Wisconsin Investment Board bought a new position in Myokardia in the 2nd quarter worth approximately $157,000. Institutional investors and hedge funds own 63.61% of the company’s stock.

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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.

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