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. “
A number of other equities analysts also recently issued reports on the stock. Cantor Fitzgerald reissued a buy rating and issued a $90.00 price objective on shares of Myokardia in a report on Thursday, May 9th. Morgan Stanley set a $71.00 price objective on shares of Myokardia and gave the stock a buy rating in a report on Monday, July 15th. BidaskClub raised shares of Myokardia from a hold rating to a buy rating in a report on Wednesday, July 24th. Wedbush raised their price objective on shares of Myokardia from $87.00 to $90.00 and gave the stock an outperform rating in a report on Thursday, August 8th. Finally, JPMorgan Chase & Co. raised their price objective on shares of Myokardia from $75.00 to $85.00 and gave the stock an overweight rating in a report on Monday, May 20th. One research analyst has rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. The company currently has an average rating of Buy and an average target price of $76.89.
Myokardia (NASDAQ:MYOK) last posted its quarterly earnings data on Wednesday, August 7th. The biotechnology company reported ($0.83) earnings per share (EPS) 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%. Analysts forecast that Myokardia will post -4.18 EPS for the current fiscal year.
In other Myokardia news, insider Anastasios Gianakakos sold 4,000 shares of Myokardia stock in a transaction that occurred on Friday, July 5th. The shares were sold at an average price of $49.73, for a total transaction of $198,920.00. Following the transaction, the insider now owns 116,470 shares of the company’s stock, valued at $5,792,053.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP June Lee sold 4,565 shares of Myokardia stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $57.00, for a total transaction of $260,205.00. Following the transaction, the executive vice president now directly owns 9,144 shares in the company, valued at approximately $521,208. The disclosure for this sale can be found here. Insiders have sold 14,565 shares of company stock worth $782,135 in the last ninety days. Insiders own 4.30% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the company. GAM Holding AG purchased a new position in shares of Myokardia in the first quarter worth $2,128,000. DekaBank Deutsche Girozentrale lifted its holdings in shares of Myokardia by 22.9% in the first quarter. DekaBank Deutsche Girozentrale now owns 12,600 shares of the biotechnology company’s stock worth $753,000 after buying an additional 2,350 shares in the last quarter. FMR LLC lifted its holdings in shares of Myokardia by 12.4% in the first quarter. FMR LLC now owns 6,786,728 shares of the biotechnology company’s stock worth $352,842,000 after buying an additional 746,122 shares in the last quarter. Norges Bank purchased a new position in shares of Myokardia in the fourth quarter worth $13,088,000. Finally, Pictet Asset Management Ltd. lifted its holdings in shares of Myokardia by 0.9% in the first quarter. Pictet Asset Management Ltd. now owns 354,635 shares of the biotechnology company’s stock worth $18,437,000 after buying an additional 3,237 shares in the last quarter. 99.72% of the stock is currently owned by hedge funds and other 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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