Shares of Myokardia Inc (NASDAQ:MYOK) have earned a consensus rating of “Buy” from the ten brokerages that are currently covering the stock, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, two have given a hold recommendation and six have assigned a buy recommendation to the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $55.67.

MYOK has been the subject of several research reports. Zacks Investment Research downgraded Myokardia from a “hold” rating to a “sell” rating in a research note on Wednesday, October 11th. TheStreet downgraded Myokardia from a “c” rating to a “d+” rating in a research note on Friday, November 3rd. ValuEngine downgraded Myokardia from a “hold” rating to a “sell” rating in a research note on Friday, December 1st. JPMorgan Chase & Co. initiated coverage on Myokardia in a research note on Tuesday, December 12th. They issued an “overweight” rating and a $54.00 target price for the company. Finally, BidaskClub upgraded Myokardia from a “sell” rating to a “hold” rating in a research note on Tuesday, December 12th.

In related news, CEO Anastasios Gianakakos sold 4,300 shares of the firm’s stock in a transaction dated Monday, November 6th. The shares were sold at an average price of $40.23, for a total value of $172,989.00. Following the transaction, the chief executive officer now owns 513,417 shares of the company’s stock, valued at approximately $20,654,765.91. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Kevin P. Starr sold 816,326 shares of the firm’s stock in a transaction dated Wednesday, January 3rd. The shares were sold at an average price of $42.00, for a total transaction of $34,285,692.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 841,626 shares of company stock worth $35,396,501. 33.40% of the stock is owned by insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in MYOK. Schwab Charles Investment Management Inc. lifted its position in Myokardia by 31.7% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 57,546 shares of the biotechnology company’s stock valued at $754,000 after acquiring an additional 13,866 shares in the last quarter. Rhumbline Advisers lifted its position in Myokardia by 45.4% in the 2nd quarter. Rhumbline Advisers now owns 18,489 shares of the biotechnology company’s stock valued at $242,000 after acquiring an additional 5,773 shares in the last quarter. Bank of New York Mellon Corp lifted its position in Myokardia by 11.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 63,208 shares of the biotechnology company’s stock valued at $828,000 after acquiring an additional 6,603 shares in the last quarter. Swiss National Bank lifted its position in Myokardia by 25.7% in the 2nd quarter. Swiss National Bank now owns 31,790 shares of the biotechnology company’s stock valued at $416,000 after acquiring an additional 6,500 shares in the last quarter. Finally, Wells Fargo & Company MN lifted its position in Myokardia by 2.5% in the 2nd quarter. Wells Fargo & Company MN now owns 18,539 shares of the biotechnology company’s stock valued at $243,000 after acquiring an additional 455 shares in the last quarter. 63.82% of the stock is currently owned by institutional investors and hedge funds.

Shares of Myokardia (MYOK) traded down $1.00 on Friday, hitting $53.05. The stock had a trading volume of 260,690 shares, compared to its average volume of 440,849. The firm has a market cap of $1,860.00 and a P/E ratio of -71.69. Myokardia has a 12 month low of $10.80 and a 12 month high of $55.40.

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

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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.

Analyst Recommendations for Myokardia (NASDAQ:MYOK)

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