Myokardia (MYOK) – Investment Analysts’ Weekly Ratings Changes

A number of firms have modified their ratings and price targets on shares of Myokardia (NASDAQ: MYOK) recently:

  • 1/19/2019 – Myokardia was downgraded by analysts at BidaskClub from a “buy” rating to a “hold” rating.
  • 1/15/2019 – Myokardia was downgraded by analysts at ValuEngine from a “strong-buy” rating to a “buy” rating.
  • 1/12/2019 – Myokardia was upgraded by analysts at BidaskClub from a “hold” rating to a “buy” rating.
  • 1/8/2019 – Myokardia was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. 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. “
  • 1/4/2019 – Myokardia had its price target lowered by analysts at Credit Suisse Group AG from $73.00 to $71.00. They now have an “outperform” rating on the stock.
  • 1/3/2019 – Myokardia had its price target lowered by analysts at Citigroup Inc from $90.00 to $70.00. They now have a “buy” rating on the stock.
  • 1/2/2019 – Myokardia was downgraded by analysts at BidaskClub from a “buy” rating to a “hold” rating.

Shares of Myokardia stock traded down $1.64 on Wednesday, hitting $42.75. 304,200 shares of the company’s stock were exchanged, compared to its average volume of 476,584. The stock has a market capitalization of $1.83 billion, a PE ratio of -30.54 and a beta of 3.32. Myokardia Inc has a 1 year low of $39.16 and a 1 year high of $67.79.

Myokardia (NASDAQ:MYOK) last issued its quarterly earnings results on Wednesday, November 7th. The biotechnology company reported ($0.39) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.50) by $0.11. The business had revenue of $9.19 million for the quarter, compared to analysts’ expectations of $7.57 million. Myokardia had a negative net margin of 222.07% and a negative return on equity of 19.40%. On average, equities research analysts expect that Myokardia Inc will post -1.8 EPS for the current fiscal year.



In other news, CEO Anastasios Gianakakos acquired 2,500 shares of the firm’s stock in a transaction dated Friday, January 4th. The shares were purchased at an average cost of $39.86 per share, for a total transaction of $99,650.00. Following the transaction, the chief executive officer now directly owns 79,737 shares of the company’s stock, valued at $3,178,316.82. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Jake Bauer sold 978 shares of the firm’s stock in a transaction on Friday, November 2nd. The shares were sold at an average price of $55.45, for a total transaction of $54,230.10. Following the sale, the insider now owns 60,878 shares in the company, valued at $3,375,685.10. The disclosure for this sale can be found here. Insiders have sold a total of 14,748 shares of company stock worth $817,215 in the last quarter. Corporate insiders own 4.70% of the company’s stock.

Several hedge funds have recently made changes to their positions in MYOK. Bank of New York Mellon Corp raised its position in shares of Myokardia by 22.9% during the 2nd quarter. Bank of New York Mellon Corp now owns 130,518 shares of the biotechnology company’s stock valued at $6,480,000 after purchasing an additional 24,290 shares during the period. SG Americas Securities LLC bought a new stake in shares of Myokardia during the 2nd quarter valued at $191,000. Schwab Charles Investment Management Inc. raised its position in shares of Myokardia by 66.2% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 167,141 shares of the biotechnology company’s stock valued at $8,299,000 after purchasing an additional 66,598 shares during the period. BlackRock Inc. raised its position in shares of Myokardia by 45.6% during the 2nd quarter. BlackRock Inc. now owns 2,627,459 shares of the biotechnology company’s stock valued at $130,454,000 after purchasing an additional 822,404 shares during the period. Finally, Legal & General Group Plc raised its position in shares of Myokardia by 36.0% during the 2nd quarter. Legal & General Group Plc now owns 4,961 shares of the biotechnology company’s stock valued at $247,000 after purchasing an additional 1,312 shares during the period. Hedge funds and other institutional investors own 88.57% of the company’s stock.

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

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