MyoKardia’s (MYOK) Outperform Rating Reiterated at Wells Fargo & Company
Wells Fargo & Company reiterated their outperform rating on shares of MyoKardia, Inc. (NASDAQ:MYOK) in a research report report published on Monday. Wells Fargo & Company currently has a $48.00 price target on the biotechnology company’s stock, up from their prior price target of $31.00.
A number of other analysts have also recently weighed in on the company. BidaskClub upgraded MyoKardia from a buy rating to a strong-buy rating in a research report on Saturday, August 5th. TheStreet upgraded MyoKardia from a d+ rating to a c rating in a research report on Thursday, July 6th. Zacks Investment Research cut MyoKardia from a hold rating to a sell rating in a research report on Thursday, May 11th. Finally, BMO Capital Markets reiterated an outperform rating and issued a $32.00 price target on shares of MyoKardia in a research report on Wednesday, May 10th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company’s stock. MyoKardia presently has a consensus rating of Buy and an average price target of $37.60.
Shares of MyoKardia (NASDAQ MYOK) opened at 36.75 on Monday. The firm has a 50-day moving average price of $16.06 and a 200-day moving average price of $13.71. The company’s market capitalization is $1.16 billion. MyoKardia has a 1-year low of $10.55 and a 1-year high of $37.88.
MyoKardia (NASDAQ:MYOK) last announced its quarterly earnings results on Monday, August 7th. The biotechnology company reported ($0.41) earnings per share for the quarter, missing analysts’ consensus estimates 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 last year, the company earned ($0.37) earnings per share. The business’s revenue was up 60.0% on a year-over-year basis. Equities analysts anticipate that MyoKardia will post ($1.64) earnings per share for the current year.
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In other MyoKardia news, insider Anastasios Gianakakos sold 32,988 shares of the business’s stock in a transaction on Tuesday, July 25th. The stock was sold at an average price of $15.00, for a total value of $494,820.00. Following the transaction, the insider now owns 541,151 shares of the company’s stock, valued at $8,117,265. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Joseph Lambing sold 15,000 shares of the business’s stock in a transaction on Tuesday, August 8th. The stock was sold at an average price of $30.00, for a total value of $450,000.00. Following the completion of the transaction, the insider now directly owns 119,718 shares in the company, valued at approximately $3,591,540. The disclosure for this sale can be found here. In the last three months, insiders sold 67,288 shares of company stock worth $1,441,236. Insiders own 46.10% of the company’s stock.
Institutional investors have recently bought and sold shares of the company. State Street Corp raised its position in MyoKardia by 24.1% in the fourth quarter. State Street Corp now owns 178,189 shares of the biotechnology company’s stock worth $2,307,000 after buying an additional 34,609 shares in the last quarter. Norges Bank acquired a new position in MyoKardia during the fourth quarter worth approximately $869,000. Teachers Advisors LLC raised its position in MyoKardia by 42.1% in the fourth quarter. Teachers Advisors LLC now owns 28,145 shares of the biotechnology company’s stock worth $364,000 after buying an additional 8,342 shares in the last quarter. Daiwa SB Investments Ltd. acquired a new position in MyoKardia during the first quarter worth approximately $170,000. Finally, Hamilton Lane Advisors LLC raised its position in MyoKardia by 70.6% in the first quarter. Hamilton Lane Advisors LLC now owns 37,287 shares of the biotechnology company’s stock worth $490,000 after buying an additional 15,433 shares in the last quarter. 47.74% of the stock is currently owned by institutional investors.
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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