Equities research analysts at Guggenheim started coverage on shares of Myokardia (NASDAQ:MYOK) in a note issued to investors on Thursday, The Fly reports. The firm set a “buy” rating on the biotechnology company’s stock.
Several other research analysts also recently weighed in on the stock. Morgan Stanley set a $71.00 target price on shares of Myokardia and gave the company a “buy” rating in a research note on Monday, July 15th. Zacks Investment Research upgraded shares of Myokardia from a “sell” rating to a “hold” rating in a research note on Tuesday, August 13th. ValuEngine upgraded shares of Myokardia from a “buy” rating to a “strong-buy” rating in a research note on Thursday, August 1st. Wedbush upped their target price on shares of Myokardia from $87.00 to $90.00 and gave the company an “outperform” rating in a research note on Thursday, August 8th. Finally, Cowen restated a “buy” rating and issued a $73.00 target price on shares of Myokardia in a research note on Thursday, August 8th. One research analyst has rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $76.89.
Shares of Myokardia stock traded up $2.24 during trading hours on Thursday, hitting $57.87. The company’s stock had a trading volume of 18,985 shares, compared to its average volume of 195,460. Myokardia has a 1-year low of $39.01 and a 1-year high of $67.79. The business has a fifty day moving average of $53.63 and a 200 day moving average of $50.87. The company has a market capitalization of $2.46 billion, a PE ratio of -32.87 and a beta of 2.07.
In other Myokardia 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 transaction of $198,920.00. Following the transaction, the insider now directly owns 116,470 shares in the company, 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 hyperlink. Also, EVP June Lee sold 4,565 shares of the stock in a transaction on Friday, August 9th. The shares were sold at an average price of $57.00, for a total transaction of $260,205.00. Following the transaction, the executive vice president now owns 9,144 shares in the company, valued at $521,208. The disclosure for this sale can be found here. Insiders sold 19,565 shares of company stock valued at $1,045,735 over the last 90 days. Insiders own 4.30% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the business. Aperio Group LLC bought a new position in Myokardia during the 2nd quarter valued at $92,000. GAM Holding AG acquired a new stake in shares of Myokardia during the first quarter worth $2,128,000. DekaBank Deutsche Girozentrale raised its holdings in shares of Myokardia by 22.9% during the first quarter. DekaBank Deutsche Girozentrale now owns 12,600 shares of the biotechnology company’s stock worth $753,000 after purchasing an additional 2,350 shares during the period. Asymmetry Capital Management L.P. raised its holdings in shares of Myokardia by 102.5% during the second quarter. Asymmetry Capital Management L.P. now owns 126,655 shares of the biotechnology company’s stock worth $6,350,000 after purchasing an additional 64,094 shares during the period. Finally, FMR LLC raised its holdings in shares of Myokardia by 12.4% during the first 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.
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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