Q3 2016 Earnings Forecast for MyoKardia Inc. Issued By Wedbush (MYOK)
MyoKardia Inc. (NASDAQ:MYOK) – Research analysts at Wedbush raised their Q3 2016 EPS estimates for shares of MyoKardia in a research report issued to clients and investors on Wednesday. Wedbush analyst D. Nierengarten now expects that the firm will earn ($0.34) per share for the quarter, up from their previous estimate of ($0.39). Wedbush has a “Outperform” rating and a $22.00 price target on the stock. Wedbush also issued estimates for MyoKardia’s Q4 2016 earnings at ($0.19) EPS, FY2016 earnings at ($1.21) EPS, Q1 2017 earnings at ($0.22) EPS, Q2 2017 earnings at ($0.24) EPS, Q3 2017 earnings at ($0.25) EPS, Q4 2017 earnings at ($0.24) EPS, FY2017 earnings at ($0.95) EPS, FY2018 earnings at ($1.22) EPS, FY2019 earnings at ($1.93) EPS and FY2020 earnings at ($2.05) EPS.
A number of other equities research analysts have also recently weighed in on MYOK. Credit Suisse Group AG reiterated a “buy” rating and set a $20.00 price target (up from $16.00) on shares of MyoKardia in a research report on Tuesday, July 12th. Zacks Investment Research cut shares of MyoKardia from a “hold” rating to a “sell” rating in a research report on Wednesday, July 13th. BMO Capital Markets initiated coverage on shares of MyoKardia in a report on Wednesday, July 20th. They issued an “outperform” rating and a $28.00 price objective for the company. Finally, Wells Fargo & Co. restated a “buy” rating on shares of MyoKardia in a report on Sunday, September 11th. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. MyoKardia presently has a consensus rating of “Buy” and a consensus target price of $23.50.
MyoKardia (NASDAQ:MYOK) opened at 16.34 on Friday. The firm has a 50 day moving average of $19.55 and a 200-day moving average of $14.78. MyoKardia has a 12-month low of $6.24 and a 12-month high of $22.83. The stock’s market cap is $441.51 million.
MyoKardia (NASDAQ:MYOK) last posted its quarterly earnings results on Tuesday, August 9th. The company reported ($0.37) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.33) by $0.04. The company earned $3.55 million during the quarter, compared to analysts’ expectations of $3.55 million. MyoKardia had a negative return on equity of 62.91% and a negative net margin of 222.21%. The firm’s quarterly revenue was up .0% compared to the same quarter last year.
A number of hedge funds and other institutional investors have recently bought and sold shares of MYOK. BlackRock Institutional Trust Company N.A. boosted its position in MyoKardia by 4.2% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 34,386 shares of the company’s stock valued at $368,000 after buying an additional 1,375 shares during the period. JPMorgan Chase & Co. purchased a new position in MyoKardia during the first quarter valued at approximately $2,613,000. State Street Corp boosted its position in MyoKardia by 31.9% in the first quarter. State Street Corp now owns 64,435 shares of the company’s stock valued at $690,000 after buying an additional 15,600 shares during the period. Geode Capital Management LLC boosted its position in MyoKardia by 19.8% in the first quarter. Geode Capital Management LLC now owns 63,701 shares of the company’s stock valued at $682,000 after buying an additional 10,527 shares during the period. Finally, Wellington Management Group LLP boosted its position in MyoKardia by 8.6% in the first quarter. Wellington Management Group LLP now owns 1,593,487 shares of the company’s stock valued at $17,067,000 after buying an additional 126,398 shares during the period. Institutional investors own 36.67% of the company’s stock.
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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