BidaskClub upgraded shares of Myokardia (NASDAQ:MYOK) from a sell rating to a hold rating in a research note issued to investors on Tuesday morning.

A number of other research analysts also recently commented on the stock. Zacks Investment Research downgraded shares of Myokardia from a hold rating to a sell rating in a research report on Wednesday, October 11th. Credit Suisse Group reaffirmed an outperform rating and issued a $55.00 target price (up from $45.00) on shares of Myokardia in a research report on Tuesday, September 19th. TheStreet downgraded shares of Myokardia from a c rating to a d+ rating in a research report on Friday, November 3rd. BMO Capital Markets reissued an outperform rating and set a $65.00 price objective (up from $45.00) on shares of Myokardia in a research report on Monday, August 21st. Finally, Wedbush reissued an outperform rating and set a $51.00 price objective on shares of Myokardia in a research report on Wednesday, September 20th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and six have given a buy rating to the stock. The company presently has an average rating of Buy and a consensus target price of $54.83.

Myokardia (NASDAQ MYOK) traded down $2.10 during midday trading on Tuesday, hitting $37.30. 312,300 shares of the company were exchanged, compared to its average volume of 322,188. Myokardia has a 1 year low of $10.55 and a 1 year high of $49.55.

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

In other news, major shareholder Rock Ventures Ii L.P. Third sold 201,400 shares of the firm’s stock in a transaction on Monday, September 25th. The shares were sold at an average price of $43.00, for a total value of $8,660,200.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Anastasios Gianakakos sold 4,300 shares of the firm’s stock in a transaction on Monday, November 6th. The stock was sold at an average price of $40.23, for a total transaction of $172,989.00. Following the completion of the sale, the chief executive officer now owns 513,417 shares of the company’s stock, valued at approximately $20,654,765.91. The disclosure for this sale can be found here. Insiders have sold a total of 1,286,713 shares of company stock worth $55,102,695 over the last three months. 33.40% of the stock is currently owned by insiders.

Hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its stake in shares of Myokardia by 8.9% in the 1st quarter. Vanguard Group Inc. now owns 686,119 shares of the biotechnology company’s stock worth $9,022,000 after acquiring an additional 55,927 shares during the period. Hershey Trust Co. lifted its stake in shares of Myokardia by 26.0% in the 3rd quarter. Hershey Trust Co. now owns 20,064 shares of the biotechnology company’s stock worth $860,000 after acquiring an additional 4,145 shares during the period. EAM Investors LLC acquired a new stake in shares of Myokardia in the 3rd quarter worth $4,216,000. Fernwood Investment Management LLC lifted its stake in shares of Myokardia by 409.1% in the third quarter. Fernwood Investment Management LLC now owns 246,382 shares of the biotechnology company’s stock valued at $10,557,000 after purchasing an additional 197,989 shares during the period. Finally, Goldman Sachs Group Inc. lifted its stake in shares of Myokardia by 260.2% in the first quarter. Goldman Sachs Group Inc. now owns 56,400 shares of the biotechnology company’s stock valued at $742,000 after purchasing an additional 40,744 shares during the period. Institutional investors own 63.61% of the company’s stock.

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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.

Analyst Recommendations for Myokardia (NASDAQ:MYOK)

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