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. “
Several other research analysts have also weighed in on MYOK. BidaskClub raised Myokardia from a hold rating to a buy rating in a research report on Wednesday, July 24th. Cowen reaffirmed a buy rating and issued a $73.00 target price on shares of Myokardia in a research report on Thursday, August 8th. ValuEngine raised Myokardia from a buy rating to a strong-buy rating in a research report on Thursday, August 1st. JPMorgan Chase & Co. increased their target price on Myokardia from $75.00 to $85.00 and gave the stock an overweight rating in a research report on Monday, May 20th. Finally, Cantor Fitzgerald reaffirmed a buy rating and issued a $90.00 target price on shares of Myokardia in a research report on Thursday, May 9th. One analyst has rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. The company presently has a consensus rating of Buy and an average price target of $76.89.
Shares of Myokardia stock opened at $53.92 on Tuesday. 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 $2.49 billion, a PE ratio of -30.64 and a beta of 2.06. The business’s fifty day moving average is $52.40 and its two-hundred day moving average is $49.16.
Myokardia (NASDAQ:MYOK) last issued its quarterly earnings results on Wednesday, August 7th. The biotechnology company reported ($0.83) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.79) by ($0.04). Myokardia had a negative return on equity of 22.02% and a negative net margin of 201.81%. On average, analysts forecast that Myokardia will post -4.05 EPS for the current fiscal year.
In other Myokardia news, insider Anastasios Gianakakos sold 4,000 shares of the firm’s stock in a transaction dated Friday, July 5th. The stock was sold at an average price of $49.73, for a total value of $198,920.00. Following the transaction, the insider now directly owns 116,470 shares of the company’s stock, valued at $5,792,053.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP June Lee sold 4,565 shares of the firm’s stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $57.00, for a total value of $260,205.00. Following the completion of the transaction, the executive vice president now directly owns 9,144 shares in the company, valued at $521,208. The disclosure for this sale can be found here. Insiders sold a total of 14,565 shares of company stock worth $782,135 over the last ninety days. Corporate insiders own 4.30% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in the business. State Board of Administration of Florida Retirement System raised its position in Myokardia by 1.9% in the first quarter. State Board of Administration of Florida Retirement System now owns 15,352 shares of the biotechnology company’s stock valued at $798,000 after purchasing an additional 280 shares during the period. Advisor Group Inc. raised its position in Myokardia by 172.0% in the fourth quarter. Advisor Group Inc. now owns 514 shares of the biotechnology company’s stock valued at $25,000 after purchasing an additional 325 shares during the period. Meeder Asset Management Inc. raised its position in Myokardia by 309.1% in the first quarter. Meeder Asset Management Inc. now owns 540 shares of the biotechnology company’s stock valued at $28,000 after purchasing an additional 408 shares during the period. TD Asset Management Inc. raised its position in Myokardia by 0.8% in the second quarter. TD Asset Management Inc. now owns 63,582 shares of the biotechnology company’s stock valued at $3,188,000 after purchasing an additional 500 shares during the period. Finally, Los Angeles Capital Management & Equity Research Inc. raised its position in Myokardia by 2.9% in the second quarter. Los Angeles Capital Management & Equity Research Inc. now owns 17,965 shares of the biotechnology company’s stock valued at $901,000 after purchasing an additional 510 shares during the period. 99.72% of the stock is currently owned by institutional investors.
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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