MyoKardia Inc. (MYOK) Given Outperform Rating at Wedbush
Wedbush restated their outperform rating on shares of MyoKardia Inc. (NASDAQ:MYOK) in a research report report published on Wednesday. They currently have a $22.00 target price on the stock, down from their prior target price of $24.00.
MYOK has been the subject of a number of other research reports. Zacks Investment Research upgraded shares of MyoKardia from a sell rating to a hold rating in a research note on Tuesday, August 23rd. Wells Fargo & Co. reiterated a buy rating on shares of MyoKardia in a research note on Sunday, September 11th. BMO Capital Markets assumed coverage on shares of MyoKardia in a research note on Wednesday, July 20th. They issued an outperform rating and a $28.00 price target for the company. Finally, Credit Suisse Group AG reiterated a buy rating and issued a $20.00 price target (up previously from $16.00) on shares of MyoKardia in a research note on Tuesday, July 12th. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. MyoKardia presently has an average rating of Buy and a consensus price target of $23.50.
MyoKardia (NASDAQ:MYOK) traded down 0.06% on Wednesday, reaching $16.01. The company had a trading volume of 34,944 shares. MyoKardia has a 12 month low of $6.24 and a 12 month high of $22.83. The company’s market capitalization is $432.59 million. The company’s 50 day moving average price is $19.69 and its 200-day moving average price is $14.72.
MyoKardia (NASDAQ:MYOK) last announced its quarterly earnings data on Tuesday, August 9th. The company reported ($0.37) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.33) by $0.04. The business earned $3.55 million during the quarter, compared to analyst estimates of $3.55 million. MyoKardia had a negative net margin of 222.21% and a negative return on equity of 62.91%. The business’s quarterly revenue was up .0% compared to the same quarter last year. On average, equities analysts predict that MyoKardia will post ($1.52) earnings per share for the current fiscal year.
Large investors have recently added to or reduced their stakes in the company. Schwab Charles Investment Management Inc. raised its position in MyoKardia by 46.9% in the second quarter. Schwab Charles Investment Management Inc. now owns 28,658 shares of the company’s stock worth $356,000 after buying an additional 9,152 shares during the period. State Street Corp raised its position in MyoKardia by 85.0% in the second quarter. State Street Corp now owns 119,178 shares of the company’s stock worth $1,479,000 after buying an additional 54,743 shares during the period. Spark Investment Management LLC purchased a new position in MyoKardia during the second quarter worth about $150,000. Teachers Advisors Inc. raised its position in MyoKardia by 185.7% in the second quarter. Teachers Advisors Inc. now owns 18,223 shares of the company’s stock worth $226,000 after buying an additional 11,845 shares during the period. Finally, BlackRock Institutional Trust Company N.A. raised its position in MyoKardia by 144.3% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 83,989 shares of the company’s stock worth $1,041,000 after buying an additional 49,603 shares during the period. Institutional investors and hedge funds own 36.67% of the company’s stock.
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 results from biomechanical defects in cardiac muscle contraction. It is engaged in the business of developing and commercializing therapeutics.
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