Zacks Investment Research upgraded shares of Myokardia (NASDAQ:MYOK) from a sell rating to a hold rating in a research report released on Tuesday morning, Zacks.com reports.

According to Zacks, “MyoKardia, Inc. is a biopharmaceutical company. The company focuses on discovering, developing, and commercializing therapies for the treatment of serious and neglected rare cardiovascular diseases. Its product candidate consists of MYK-461, a small molecule to reduce excessive cardiac muscle contractility leading to hypertrophic cardiomyopathy, DCM-1, treats heritable dilated cardiomyopathy by restoring normal contractility in the diseased DCM heart, HCM-2, a product candidate to reduce cardiac muscle contractility to normal levels in HCM patients and LUS-1, which is intended to counteract a muscle disruption that results in impaired relaxation of the heart, which are in different clinical trial. MyoKardia, Inc. is headquartered in San Francisco, California. “

A number of other research analysts also recently commented on MYOK. Cantor Fitzgerald reaffirmed a buy rating and issued a $27.00 target price on shares of Spero Therapeutics in a research report on Thursday, May 9th. BidaskClub downgraded shares of Inovio Pharmaceuticals from a sell rating to a strong sell rating in a research report on Saturday, June 1st. TheStreet raised shares of TELUS from a c+ rating to a b- rating in a research report on Thursday, April 4th. JPMorgan Chase & Co. set a $90.00 target price on shares of Duke Energy and gave the company a hold rating in a research report on Monday, May 20th. Finally, ValuEngine downgraded shares of Zogenix from a strong-buy rating to a buy rating in a research report on Thursday, April 11th. Two equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Myokardia has a consensus rating of Buy and an average target price of $75.75.

Shares of NASDAQ:MYOK opened at $53.52 on Tuesday. Myokardia has a 52 week low of $39.01 and a 52 week high of $67.79. The firm has a 50 day moving average price of $48.45.

Myokardia (NASDAQ:MYOK) last announced its quarterly earnings data on Thursday, May 9th. The biotechnology company reported ($0.93) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.65) by ($0.28). Myokardia had a negative net margin of 201.81% and a negative return on equity of 19.98%. As a group, equities research analysts anticipate that Myokardia will post -3.75 earnings per share for the current year.

In related news, insider Anastasios Gianakakos sold 4,000 shares of the stock in a transaction on Friday, July 5th. The shares were sold at an average price of $49.73, for a total value of $198,920.00. Following the transaction, the insider now directly owns 116,470 shares of the company’s stock, valued at approximately $5,792,053.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 4.30% of the company’s stock.

A number of large investors have recently modified their holdings of the stock. FMR LLC boosted its stake in Myokardia by 12.4% during the 1st quarter. FMR LLC now owns 6,786,728 shares of the biotechnology company’s stock worth $352,842,000 after purchasing an additional 746,122 shares during the period. BlackRock Inc. boosted its stake in Myokardia by 0.3% during the 4th quarter. BlackRock Inc. now owns 2,861,588 shares of the biotechnology company’s stock worth $139,816,000 after purchasing an additional 9,099 shares during the period. D. E. Shaw & Co. Inc. boosted its stake in Myokardia by 3.7% during the 4th quarter. D. E. Shaw & Co. Inc. now owns 866,620 shares of the biotechnology company’s stock worth $42,344,000 after purchasing an additional 30,863 shares during the period. Marshall Wace LLP acquired a new stake in Myokardia during the 1st quarter worth $23,678,000. Finally, Geode Capital Management LLC boosted its stake in Myokardia by 10.5% during the 4th quarter. Geode Capital Management LLC now owns 398,202 shares of the biotechnology company’s stock worth $19,456,000 after purchasing an additional 37,810 shares during the period. Hedge funds and other institutional investors own 99.64% of the company’s stock.

Myokardia Company Profile

MyoKardia, Inc, a clinical stage biopharmaceutical company, discovers, develops, and commercializes targeted therapies for the treatment of serious and neglected rare cardiovascular diseases. Its lead product candidate is mavacamten, an orally administered small molecule, which is in Phase III clinical trial that is designed to reduce left ventricular contractility to alleviate the functional consequences and symptoms of obstructive hypertrophic cardiomyopathy (HCM) and prevent or reverse HCM progression, as well as in Phase II clinical trial for non-obstructive HCM.

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