Myokardia (NASDAQ:MYOK) Stock Rating Lowered by ValuEngine

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Myokardia (NASDAQ:MYOK) was downgraded by equities research analysts at ValuEngine from a “strong-buy” rating to a “buy” rating in a report released on Tuesday, ValuEngine reports.

A number of other analysts also recently commented on MYOK. Guggenheim initiated coverage on Myokardia in a research report on Thursday, September 19th. They issued a “buy” rating for the company. Maxim Group restated an “average” rating on shares of Myokardia in a research note on Monday, October 28th. Wedbush raised their target price on Myokardia from $87.00 to $90.00 and gave the stock an “outperform” rating in a research report on Thursday, August 8th. BidaskClub raised shares of Myokardia from a “hold” rating to a “buy” rating in a report on Saturday, November 30th. Finally, Cowen reissued a “buy” rating and issued a $73.00 price target on shares of Myokardia in a report on Monday, November 11th. Two equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Myokardia has an average rating of “Buy” and a consensus price target of $76.89.

NASDAQ:MYOK opened at $67.09 on Tuesday. The firm’s 50-day moving average is $58.99 and its 200-day moving average is $53.54. Myokardia has a 52-week low of $39.01 and a 52-week high of $68.06. The company has a market cap of $3.10 billion, a price-to-earnings ratio of -38.12 and a beta of 2.07.

Myokardia (NASDAQ:MYOK) last released its earnings results on Monday, November 11th. The biotechnology company reported ($1.34) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($1.91) by $0.57. As a group, research analysts forecast that Myokardia will post -4.6 EPS for the current fiscal year.

In other news, insider Jake Bauer sold 21,232 shares of the company’s stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $65.17, for a total value of $1,383,689.44. Following the sale, the insider now owns 53,134 shares of the company’s stock, valued at approximately $3,462,742.78. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Anastasios Gianakakos sold 1,000 shares of the stock in a transaction dated Wednesday, September 11th. The stock was sold at an average price of $55.00, for a total transaction of $55,000.00. Following the sale, the chief executive officer now owns 101,470 shares of the company’s stock, valued at approximately $5,580,850. The disclosure for this sale can be found here. Insiders have sold a total of 87,514 shares of company stock valued at $5,391,870 in the last 90 days. 4.30% of the stock is owned by corporate insiders.

A number of large investors have recently added to or reduced their stakes in MYOK. Quadrant Capital Group LLC acquired a new stake in Myokardia in the 3rd quarter valued at about $33,000. Amundi Pioneer Asset Management Inc. bought a new stake in shares of Myokardia during the first quarter valued at approximately $68,000. Aperio Group LLC acquired a new stake in shares of Myokardia in the second quarter valued at approximately $92,000. Strs Ohio increased its holdings in shares of Myokardia by 440.0% in the third quarter. Strs Ohio now owns 2,700 shares of the biotechnology company’s stock valued at $140,000 after purchasing an additional 2,200 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Myokardia by 39.3% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,803 shares of the biotechnology company’s stock valued at $141,000 after purchasing an additional 791 shares in the last quarter.

Myokardia Company Profile

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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Analyst Recommendations for Myokardia (NASDAQ:MYOK)

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