MyoKardia Inc. (NASDAQ:MYOK) – Analysts at Wedbush boosted their Q3 2016 earnings per share (EPS) estimates for MyoKardia in a note issued to investors on Wednesday. Wedbush analyst D. Nierengarten now expects that the firm will post earnings per share of ($0.34) for the quarter, up from their prior forecast of ($0.39). Wedbush currently has a “Outperform” rating and a $22.00 target price on the stock. Wedbush also issued estimates for MyoKardia’s Q4 2016 earnings at ($0.19) EPS, FY2016 earnings at ($1.21) EPS, Q1 2017 earnings at ($0.22) EPS, Q2 2017 earnings at ($0.24) EPS, Q3 2017 earnings at ($0.25) EPS, Q4 2017 earnings at ($0.24) EPS, FY2017 earnings at ($0.95) EPS, FY2018 earnings at ($1.22) EPS, FY2019 earnings at ($1.93) EPS and FY2020 earnings at ($2.05) EPS.
MYOK has been the subject of a number of other reports. Wells Fargo & Co. reaffirmed a “buy” rating on shares of MyoKardia in a report on Thursday, September 22nd. Zacks Investment Research cut MyoKardia from a “hold” rating to a “sell” rating in a report on Wednesday, July 13th. Credit Suisse Group AG reaffirmed a “buy” rating and issued a $20.00 price target (up from $16.00) on shares of MyoKardia in a report on Tuesday, July 12th. Finally, BMO Capital Markets began coverage on MyoKardia in a report on Wednesday, July 20th. They issued an “outperform” rating and a $28.00 price target for the company. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. MyoKardia has a consensus rating of “Buy” and a consensus price target of $23.50.
Shares of MyoKardia (NASDAQ:MYOK) opened at 16.34 on Friday. The stock’s market capitalization is $441.51 million. The firm’s 50-day moving average is $19.55 and its 200-day moving average is $14.78. MyoKardia has a 1-year low of $6.24 and a 1-year 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 analysts’ consensus estimates of ($0.33) by $0.04. MyoKardia had a negative net margin of 222.21% and a negative return on equity of 62.91%. The firm had revenue of $3.55 million for the quarter, compared to analysts’ expectations of $3.55 million. The firm’s revenue was up .0% compared to the same quarter last year.
Hedge funds have recently made changes to their positions in the company. Spark Investment Management LLC purchased a new stake in shares of MyoKardia during the second quarter worth approximately $150,000. Teachers Advisors Inc. raised its stake in shares of MyoKardia by 185.7% in the second quarter. Teachers Advisors Inc. now owns 18,223 shares of the company’s stock worth $226,000 after buying an additional 11,845 shares during the last quarter. Bank of New York Mellon Corp raised its stake 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 during the last quarter. California State Teachers Retirement System raised its stake 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 during the last quarter. Finally, Schwab Charles Investment Management Inc. raised its stake 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 during the last quarter. Hedge funds and other 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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