Wall Street brokerages forecast that Myokardia Inc (NASDAQ:MYOK) will report $5.63 million in sales for the current fiscal quarter, according to Zacks Investment Research. Two analysts have issued estimates for Myokardia’s earnings. Myokardia posted sales of $28.55 million in the same quarter last year, which suggests a negative year over year growth rate of 80.3%. The company is expected to issue its next quarterly earnings results on Monday, March 12th.
According to Zacks, analysts expect that Myokardia will report full-year sales of $5.63 million for the current fiscal year, with estimates ranging from $22.50 million to $25.00 million. For the next fiscal year, analysts forecast that the firm will report sales of $31.50 million per share, with estimates ranging from $22.50 million to $40.00 million. Zacks Investment Research’s sales averages are an average based on a survey of research firms that cover Myokardia.
Several brokerages recently issued reports on MYOK. BidaskClub upgraded shares of Myokardia from a “hold” rating to a “buy” rating in a research note on Saturday, February 17th. ValuEngine upgraded shares of Myokardia from a “sell” rating to a “hold” rating in a research note on Friday, February 2nd. Credit Suisse Group reiterated an “outperform” rating and issued a $60.00 price target on shares of Myokardia in a research note on Thursday, January 18th. Zacks Investment Research lowered shares of Myokardia from a “hold” rating to a “sell” rating in a research note on Wednesday, January 3rd. Finally, TheStreet lowered shares of Myokardia from a “c” rating to a “d+” rating in a research note on Friday, November 3rd. One investment analyst has rated the stock with a sell rating, one has given a hold rating and seven have given a buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $55.67.
A number of hedge funds have recently made changes to their positions in MYOK. BlackRock Inc. grew its position in Myokardia by 37.2% during the 4th quarter. BlackRock Inc. now owns 1,920,651 shares of the biotechnology company’s stock valued at $80,859,000 after purchasing an additional 521,031 shares during the last quarter. Millennium Management LLC purchased a new stake in Myokardia during the 4th quarter valued at about $20,661,000. Farallon Capital Management LLC grew its position in Myokardia by 117.3% during the 4th quarter. Farallon Capital Management LLC now owns 863,732 shares of the biotechnology company’s stock valued at $36,363,000 after purchasing an additional 466,232 shares during the last quarter. Wells Fargo & Company MN grew its position in Myokardia by 2,151.7% during the 3rd quarter. Wells Fargo & Company MN now owns 417,439 shares of the biotechnology company’s stock valued at $17,887,000 after purchasing an additional 398,900 shares during the last quarter. Finally, VHCP Management II LLC purchased a new stake in Myokardia during the 3rd quarter valued at about $11,355,000. 78.38% of the stock is currently owned by institutional investors.
Shares of Myokardia (NASDAQ:MYOK) traded up $0.50 during trading on Monday, hitting $58.20. 303,900 shares of the company traded hands, compared to its average volume of 391,757. The company has a market cap of $2,062.26, a price-to-earnings ratio of -76.58 and a beta of 4.00. Myokardia has a 52 week low of $10.80 and a 52 week high of $62.83.
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 result from biomechanical defects in cardiac muscle contraction. The Company is engaged in the business of developing and commercializing therapeutics.
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