MyoKardia Inc. (NASDAQ:MYOK)‘s stock had its “outperform” rating reaffirmed by stock analysts at Wedbush in a research report issued to clients and investors on Wednesday. They presently have a $22.00 price objective on the stock, down from their previous price objective of $24.00. Wedbush’s price objective suggests a potential upside of 45.50% from the company’s current price.
A number of other research firms have also weighed in on MYOK. Zacks Investment Research lowered shares of MyoKardia from a “hold” rating to a “sell” rating in a report on Friday, August 12th. Wells Fargo & Co. restated a “buy” rating on shares of MyoKardia in a report on Sunday, September 11th. BMO Capital Markets started coverage on shares of MyoKardia in a report on Wednesday, July 20th. They issued an “outperform” rating and a $28.00 target price on the stock. Finally, Credit Suisse Group AG restated a “buy” rating and issued a $20.00 target price (up previously from $16.00) on shares of MyoKardia in a report on Tuesday, July 12th. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $23.50.
MyoKardia (NASDAQ:MYOK) traded up 7.08% during trading on Wednesday, reaching $16.19. The company had a trading volume of 1,632,949 shares. The company’s market capitalization is $437.45 million. MyoKardia has a one year low of $6.24 and a one year high of $22.83. The company has a 50-day moving average price of $19.77 and a 200 day moving average price of $14.71.
MyoKardia (NASDAQ:MYOK) last released its quarterly earnings data on Tuesday, August 9th. The company reported ($0.37) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.33) by $0.04. The company had revenue of $3.55 million for the quarter, compared to the consensus estimate of $3.55 million. MyoKardia had a negative return on equity of 62.91% and a negative net margin of 222.21%. MyoKardia’s revenue was up .0% on a year-over-year basis. Analysts expect that MyoKardia will post ($1.52) earnings per share for the current year.
Several large investors have recently bought and sold shares of MYOK. Wellington Management Group LLP raised its stake in MyoKardia by 8.6% in the first quarter. Wellington Management Group LLP now owns 1,593,487 shares of the company’s stock worth $17,067,000 after buying an additional 126,398 shares in the last quarter. JPMorgan Chase & Co. raised its stake in MyoKardia by 43.7% in the second quarter. JPMorgan Chase & Co. now owns 350,725 shares of the company’s stock valued at $4,349,000 after buying an additional 106,688 shares during the period. Vanguard Group Inc. raised its stake in MyoKardia by 130.8% in the second quarter. Vanguard Group Inc. now owns 314,800 shares of the company’s stock valued at $3,904,000 after buying an additional 178,431 shares during the period. BlackRock Fund Advisors raised its stake in MyoKardia by 80.2% in the second quarter. BlackRock Fund Advisors now owns 290,293 shares of the company’s stock valued at $3,600,000 after buying an additional 129,164 shares during the period. Finally, State Street Corp raised its stake in MyoKardia by 85.0% in the second quarter. State Street Corp now owns 119,178 shares of the company’s stock valued at $1,479,000 after buying an additional 54,743 shares during the period. Institutional investors 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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