Investment Analysts’ Weekly Ratings Changes for Myokardia (MYOK)

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

  • 4/11/2019 – Myokardia was downgraded by analysts at ValuEngine from a “strong-buy” rating to a “buy” rating.
  • 4/5/2019 – Myokardia was upgraded by analysts at ValuEngine from a “buy” rating to a “strong-buy” rating.
  • 4/4/2019 – Myokardia was upgraded by analysts at TheStreet from a “d+” rating to a “c-” rating.
  • 3/29/2019 – Myokardia was downgraded by analysts at BidaskClub from a “buy” rating to a “hold” rating.
  • 3/21/2019 – Myokardia was upgraded by analysts at BidaskClub from a “hold” rating to a “buy” rating.
  • 3/5/2019 – Myokardia was downgraded by analysts at Zacks Investment Research from a “hold” rating to a “sell” 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. “
  • 3/5/2019 – Myokardia had its price target raised by analysts at BMO Capital Markets to $90.00. They now have an “outperform” rating on the stock.
  • 3/5/2019 – Myokardia was upgraded by analysts at ValuEngine from a “hold” rating to a “buy” rating.
  • 3/4/2019 – Myokardia had its “buy” rating reaffirmed by analysts at Cantor Fitzgerald. They now have a $90.00 price target on the stock. They wrote, “: Reiterate OW and $90 PT. 6-month open label data on mavacamten continues to look clean around dosing safety. Although a small cohort, these data reinforce our confidence in dosing safety in Ph3 EXPLORER. At current levels, we think that potential mavacamten opportunity remains unappreciated. We estimate 2027 unadjusted US sales of $1.7B, which assumes 45k (obstructive and non-obstructive) patients are treated. From our recent meetings on the road, we think that interest and awareness are rising in the MYOK story. We spoke to the full team post call and highlight our takes below. Open-label mavacamten data in 10 patients at 6 months reinforces our confidence in Ph3 success.””
  • 2/22/2019 – Myokardia is now covered by analysts at BMO Capital Markets. They set an “outperform” rating and a $85.00 price target on the stock.
  • 2/20/2019 – Myokardia was upgraded by analysts at BidaskClub from a “sell” rating to a “hold” rating.

Shares of MYOK stock traded down $2.90 during trading on Wednesday, hitting $46.88. The company had a trading volume of 670,700 shares, compared to its average volume of 592,666. The stock has a market cap of $1.96 billion, a P/E ratio of -26.64 and a beta of 2.48. Myokardia Inc has a one year low of $39.01 and a one year high of $67.79.

Myokardia (NASDAQ:MYOK) last issued its quarterly earnings results on Thursday, February 28th. The biotechnology company reported ($0.39) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.46) by $0.07. The business had revenue of $12.40 million during the quarter, compared to analysts’ expectations of $8.57 million. Myokardia had a negative return on equity of 20.00% and a negative net margin of 201.81%. On average, equities research analysts predict that Myokardia Inc will post -3.1 earnings per share for the current fiscal year.

In related news, major shareholder Sanofi sold 4,168,899 shares of the business’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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Taylor C. Harris sold 1,324 shares of the business’s stock in a transaction that occurred on Friday, April 5th. The shares were sold at an average price of $53.30, for a total value of $70,569.20. Following the completion of the sale, the chief financial officer now owns 3,750 shares of the company’s stock, valued at $199,875. The disclosure for this sale can be found here. Insiders own 4.70% of the company’s stock.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in MYOK. Advisor Group Inc. lifted its stake in Myokardia by 172.0% during the fourth quarter. Advisor Group Inc. now owns 514 shares of the biotechnology company’s stock worth $25,000 after purchasing an additional 325 shares during the last quarter. Bank of Montreal Can lifted its stake in Myokardia by 71.2% during the fourth quarter. Bank of Montreal Can now owns 553 shares of the biotechnology company’s stock worth $27,000 after purchasing an additional 230 shares during the last quarter. Meeder Asset Management Inc. lifted its stake in Myokardia by 309.1% during the first quarter. Meeder Asset Management Inc. now owns 540 shares of the biotechnology company’s stock worth $28,000 after purchasing an additional 408 shares during the last quarter. Group One Trading L.P. bought a new stake in Myokardia during the fourth quarter worth $31,000. Finally, Great West Life Assurance Co. Can lifted its stake in Myokardia by 27.8% during the fourth quarter. Great West Life Assurance Co. Can now owns 4,188 shares of the biotechnology company’s stock worth $197,000 after purchasing an additional 912 shares during the last quarter. Hedge funds and other institutional investors own 90.91% of the company’s stock.

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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