Myokardia (NASDAQ:MYOK) posted its earnings results on Thursday. The biotechnology company reported ($0.93) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.65) by ($0.28), Morningstar.com reports. Myokardia had a negative return on equity of 23.06% and a negative net margin of 201.81%.
Shares of MYOK stock traded down $0.98 during trading hours on Friday, reaching $46.97. 821,493 shares of the company’s stock were exchanged, compared to its average volume of 396,966. Myokardia has a fifty-two week low of $39.01 and a fifty-two week high of $67.79. The firm has a market cap of $2.21 billion, a PE ratio of -26.69 and a beta of 2.32.
In other news, CFO Taylor C. Harris sold 1,324 shares of the company’s stock in a transaction that occurred on Friday, April 5th. The stock was sold at an average price of $53.30, for a total transaction of $70,569.20. Following the completion of the transaction, the chief financial officer now directly owns 3,750 shares in the company, valued at $199,875. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, major shareholder Sanofi sold 4,168,899 shares of the company’s stock in a transaction that occurred on Wednesday, February 13th. The stock was sold at an average price of $37.66, for a total value of $157,000,736.34. The disclosure for this sale can be found here. 4.70% of the stock is owned by insiders.
MYOK has been the subject of several analyst reports. BMO Capital Markets boosted their target price on Myokardia to $90.00 and gave the stock an “outperform” rating in a report on Tuesday, March 5th. BidaskClub lowered Myokardia from a “buy” rating to a “hold” rating in a report on Saturday, January 19th. ValuEngine lowered Myokardia from a “strong-buy” rating to a “buy” rating in a report on Thursday, April 11th. Finally, Cantor Fitzgerald restated a “buy” rating and issued a $90.00 target price on shares of Myokardia in a report on Monday, March 4th. One equities research analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $74.70.
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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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