Myokardia (NASDAQ:MYOK) Issues Quarterly Earnings Results

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Myokardia (NASDAQ:MYOK) released its quarterly earnings results on Monday. The biotechnology company reported ($1.34) earnings per share for the quarter, beating the consensus estimate of ($1.91) by $0.57, Fidelity Earnings reports.

Shares of Myokardia stock opened at $54.49 on Wednesday. The stock has a market cap of $2.77 billion, a price-to-earnings ratio of -30.96 and a beta of 2.06. The stock has a 50 day moving average price of $55.95 and a 200-day moving average price of $52.20. Myokardia has a one year low of $39.01 and a one year high of $63.76.

In other news, CEO Anastasios Gianakakos sold 4,000 shares of Myokardia stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $52.15, for a total value of $208,600.00. Following the completion of the transaction, the chief executive officer now owns 104,570 shares in the company, valued at approximately $5,453,325.50. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP June Lee sold 13,051 shares of Myokardia stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $59.51, for a total value of $776,665.01. Following the completion of the transaction, the executive vice president now owns 17,204 shares of the company’s stock, valued at approximately $1,023,810.04. The disclosure for this sale can be found here. In the last quarter, insiders sold 52,186 shares of company stock valued at $3,038,738. Company insiders own 4.30% of the company’s stock.

Several equities analysts have weighed in on the company. Wedbush raised their price target on Myokardia from $87.00 to $90.00 and gave the company an “outperform” rating in a report on Thursday, August 8th. Morgan Stanley cut their price target on Myokardia from $71.00 to $70.00 and set an “overweight” rating for the company in a report on Tuesday. ValuEngine upgraded Myokardia from a “buy” rating to a “strong-buy” rating in a report on Friday, November 1st. BidaskClub cut Myokardia from a “buy” rating to a “hold” rating in a report on Thursday, September 26th. Finally, Cowen restated a “buy” rating and set a $73.00 price target on shares of Myokardia in a report on Monday. Three research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. The company has an average rating of “Buy” and an average price target of $76.78.

About Myokardia

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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Earnings History for Myokardia (NASDAQ:MYOK)

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