Several other research analysts have also weighed in on MYOK. Credit Suisse Group AG reissued a buy rating and set a $20.00 price objective (up previously from $16.00) on shares of MyoKardia in a research note on Tuesday, July 12th. Zacks Investment Research lowered shares of MyoKardia from a hold rating to a sell rating in a research note on Wednesday, July 13th. BMO Capital Markets initiated coverage on shares of MyoKardia in a research note on Wednesday, July 20th. They set an outperform rating and a $28.00 price objective on the stock. Finally, Wedbush reissued an outperform rating and set a $22.00 price objective on shares of MyoKardia in a research note on Tuesday, August 9th. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. The stock has an average rating of Buy and a consensus price target of $23.50.
MyoKardia (NASDAQ:MYOK) opened at 15.12 on Thursday. MyoKardia has a 1-year low of $6.24 and a 1-year high of $22.83. The firm’s 50-day moving average is $19.77 and its 200-day moving average is $14.71. The firm’s market capitalization is $408.54 million.
MyoKardia (NASDAQ:MYOK) last released its quarterly earnings data on Tuesday, August 9th. The company reported ($0.37) earnings per share for the quarter, missing the 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 had revenue of $3.55 million for the quarter, compared to the consensus estimate of $3.55 million. MyoKardia’s revenue for the quarter was up .0% on a year-over-year basis. On average, equities analysts anticipate that MyoKardia will post ($1.52) EPS for the current year.
A number of hedge funds have recently made changes to their positions in the company. Spark Investment Management LLC bought a new stake in shares of MyoKardia during the second quarter valued at approximately $150,000. Teachers Advisors Inc. increased 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 valued at $226,000 after buying an additional 11,845 shares during the period. Bank of New York Mellon Corp increased 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 valued at $267,000 after buying an additional 9,861 shares during the period. California State Teachers Retirement System increased 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 valued at $293,000 after buying an additional 10,148 shares during the period. Finally, Schwab Charles Investment Management Inc. increased its stake in 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 period. Hedge funds and other institutional investors own 36.67% of the company’s stock.
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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