Myokardia (MYOK) Rating Increased to Hold at BidaskClub

Myokardia (NASDAQ:MYOK) was upgraded by research analysts at BidaskClub from a “sell” rating to a “hold” rating in a report issued on Tuesday.

MYOK has been the subject of several other reports. Zacks Investment Research raised Myokardia from a “sell” rating to a “hold” rating in a research report on Tuesday, October 17th. ValuEngine cut Myokardia from a “hold” rating to a “sell” rating in a research report on Friday, December 1st. JPMorgan Chase & Co. assumed coverage on Myokardia in a research report on Tuesday, December 12th. They issued an “overweight” rating and a $54.00 target price for the company. Wedbush reaffirmed an “outperform” rating and issued a $51.00 target price on shares of Myokardia in a research report on Wednesday, September 20th. Finally, TheStreet cut Myokardia from a “c” rating to a “d+” rating in a research report on Friday, November 3rd. One research analyst has rated the stock with a sell rating, two have issued a hold rating and six have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $54.83.

Myokardia (NASDAQ MYOK) opened at $42.40 on Tuesday. The company has a market capitalization of $1,540.00 and a price-to-earnings ratio of -57.30. Myokardia has a 12-month low of $10.55 and a 12-month high of $49.55.

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

In other Myokardia news, Director Kevin P. Starr sold 75,313 shares of Myokardia stock in a transaction on Tuesday, October 3rd. The stock was sold at an average price of $40.28, for a total transaction of $3,033,607.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Anastasios Gianakakos sold 4,300 shares of Myokardia stock in a transaction on Monday, November 6th. The shares were sold at an average price of $40.23, for a total value of $172,989.00. Following the transaction, the chief executive officer now directly owns 513,417 shares of the company’s stock, valued at $20,654,765.91. The disclosure for this sale can be found here. Over the last three months, insiders have sold 86,913 shares of company stock valued at $3,505,565. Company insiders own 33.40% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of the business. Wells Fargo & Company MN lifted its holdings in shares of Myokardia by 2.5% during the second quarter. Wells Fargo & Company MN now owns 18,539 shares of the biotechnology company’s stock valued at $243,000 after acquiring an additional 455 shares during the period. American International Group Inc. lifted its holdings in shares of Myokardia by 18.8% during the third quarter. American International Group Inc. now owns 12,735 shares of the biotechnology company’s stock valued at $546,000 after acquiring an additional 2,018 shares during the period. Fiduciary Trust Co. lifted its holdings in shares of Myokardia by 7.2% during the second quarter. Fiduciary Trust Co. now owns 30,612 shares of the biotechnology company’s stock valued at $401,000 after acquiring an additional 2,058 shares during the period. Rhumbline Advisers lifted its holdings in shares of Myokardia by 12.4% during the third quarter. Rhumbline Advisers now owns 20,788 shares of the biotechnology company’s stock valued at $891,000 after acquiring an additional 2,299 shares during the period. Finally, Schwab Charles Investment Management Inc. raised its holdings in shares of Myokardia by 5.8% in the first quarter. Schwab Charles Investment Management Inc. now owns 43,680 shares of the biotechnology company’s stock valued at $575,000 after buying an additional 2,394 shares during the last quarter. 63.61% of the stock is owned by institutional investors.

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Myokardia Company Profile

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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