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.

ILLEGAL ACTIVITY NOTICE: This piece was reported by The Cerbat Gem and is the sole property of of The Cerbat Gem. If you are accessing this piece on another publication, it was copied illegally and republished in violation of U.S. and international copyright & trademark law. The legal version of this piece can be viewed at https://www.thecerbatgem.com/2017/08/10/myokardias-myok-outperform-rating-reiterated-at-wells-fargo-company.html.

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.

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.

Receive News & Stock Ratings for MyoKardia Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for MyoKardia Inc. and related stocks with our FREE daily email newsletter.