Wedbush reaffirmed their outperform rating on shares of MyoKardia Inc. (NASDAQ:MYOK) in a report released on Wednesday morning. Wedbush currently has a $22.00 price target on the stock, down from their prior price target of $24.00.
A number of other research firms also recently commented on MYOK. Zacks Investment Research raised MyoKardia from a sell rating to a hold rating in a research note on Tuesday, August 23rd. Wells Fargo & Co. reaffirmed a buy rating on shares of MyoKardia in a research report on Sunday, September 11th. BMO Capital Markets began coverage on MyoKardia in a research report on Wednesday, July 20th. They set an outperform rating and a $28.00 target price on the stock. Finally, Credit Suisse Group AG reaffirmed a buy rating and set a $20.00 target price (up from $16.00) on shares of MyoKardia in a research report on Tuesday, July 12th. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. MyoKardia currently has an average rating of Buy and a consensus target price of $23.50.
MyoKardia (NASDAQ:MYOK) opened at 15.73 on Wednesday. The stock’s market capitalization is $425.02 million. The stock has a 50 day moving average price of $19.47 and a 200-day moving average price of $14.91. MyoKardia has a 12-month low of $6.24 and a 12-month high of $22.83.
MyoKardia (NASDAQ:MYOK) last posted its quarterly earnings data on Tuesday, August 9th. The company reported ($0.37) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.33) by $0.04. MyoKardia had a negative return on equity of 62.91% and a negative net margin of 222.21%. The firm earned $3.55 million during the quarter, compared to the consensus estimate of $3.55 million. MyoKardia’s revenue was up .0% on a year-over-year basis. Equities research analysts expect that MyoKardia will post ($1.49) EPS for the current year.
Several hedge funds and other institutional investors have recently modified their holdings of the stock. BlackRock Institutional Trust Company N.A. increased its position in shares of MyoKardia by 4.2% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 34,386 shares of the company’s stock worth $368,000 after buying an additional 1,375 shares in the last quarter. Schwab Charles Investment Management Inc. increased its position in shares of MyoKardia by 46.9% in the second quarter. Schwab Charles Investment Management Inc. now owns 28,658 shares of the company’s stock worth $356,000 after buying an additional 9,152 shares in the last quarter. Bank of New York Mellon Corp increased its position in shares of MyoKardia by 84.7% in the second quarter. Bank of New York Mellon Corp now owns 21,503 shares of the company’s stock worth $267,000 after buying an additional 9,861 shares in the last quarter. California State Teachers Retirement System increased its position in shares of MyoKardia by 75.4% in the second quarter. California State Teachers Retirement System now owns 23,599 shares of the company’s stock worth $293,000 after buying an additional 10,148 shares in the last quarter. Finally, Geode Capital Management LLC increased its position in shares of MyoKardia by 19.8% in the first quarter. Geode Capital Management LLC now owns 63,701 shares of the company’s stock worth $682,000 after buying an additional 10,527 shares in the last quarter. Institutional investors and hedge funds own 36.67% of the company’s stock.
MyoKardia Company Profile
MyoKardia, Inc is a clinical-stage biopharmaceutical company. The Company focuses on the treatment of heritable cardiomyopathies, a group of rare, genetically-driven forms of heart failure that results from biomechanical defects in cardiac muscle contraction. It is engaged in the business of developing and commercializing therapeutics.
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