Myokardia (NASDAQ:MYOK) Releases Quarterly Earnings Results, Beats Expectations By $0.57 EPS

Myokardia (NASDAQ:MYOK) issued its quarterly earnings data on Monday. The biotechnology company reported ($1.34) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($1.91) by $0.57, Fidelity Earnings reports.

NASDAQ:MYOK traded up $1.24 during midday trading on Thursday, hitting $58.34. 583 shares of the company traded hands, compared to its average volume of 283,548. The firm’s fifty day moving average is $56.00 and its 200-day moving average is $51.92. Myokardia has a 12-month low of $39.01 and a 12-month high of $64.40. The firm has a market capitalization of $2.72 billion, a P/E ratio of -33.15 and a beta of 2.06.

Several analysts have recently issued reports on MYOK shares. Cowen reaffirmed a “buy” rating and set a $73.00 price objective on shares of Myokardia in a report on Tuesday, October 22nd. Wedbush upped their price objective on Myokardia from $87.00 to $90.00 and gave the stock an “outperform” rating in a report on Thursday, August 8th. ValuEngine raised Myokardia from a “buy” rating to a “strong-buy” rating in a report on Friday, November 1st. Maxim Group reaffirmed an “average” rating on shares of Myokardia in a report on Monday, October 28th. Finally, Zacks Investment Research raised Myokardia from a “sell” rating to a “hold” rating in a report on Tuesday, August 13th. Three equities 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 stock has a consensus rating of “Buy” and a consensus target price of $76.89.

In related news, EVP June Lee sold 4,565 shares of the stock in a transaction on Friday, August 9th. The stock was sold at an average price of $57.00, for a total transaction of $260,205.00. Following the sale, the executive vice president now owns 9,144 shares in the company, valued at approximately $521,208. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Anastasios Gianakakos sold 1,000 shares of the stock in a transaction on Wednesday, September 11th. The shares were sold at an average price of $55.00, for a total value of $55,000.00. Following the sale, the chief executive officer now owns 101,470 shares in the company, valued at approximately $5,580,850. The disclosure for this sale can be found here. Insiders have sold a total of 56,751 shares of company stock worth $3,298,943 in the last 90 days. 4.30% of the stock is currently owned by insiders.

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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