TheStreet Lowers MyoKardia, Inc. (MYOK) to D+

MyoKardia, Inc. (NASDAQ:MYOK) was downgraded by analysts at TheStreet from a “c” rating to a “d+” rating in a research note issued to investors on Friday, November 3rd.

Other equities analysts have also issued reports about the company. BidaskClub raised MyoKardia from a “buy” rating to a “strong-buy” rating in a research note on Saturday, August 5th. Zacks Investment Research lowered MyoKardia from a “hold” rating to a “sell” rating in a research note on Wednesday, October 11th. BMO Capital Markets reissued an “outperform” rating and issued a $65.00 price target (up from $45.00) on shares of MyoKardia in a research note on Monday, August 21st. Cowen and Company boosted their price target on MyoKardia from $28.00 to $56.00 and gave the company an “outperform” rating in a research note on Monday, August 7th. Finally, Wells Fargo & Company reissued an “outperform” rating and issued a $48.00 price target (up from $31.00) on shares of MyoKardia in a research note on Monday, August 7th. Two investment analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. MyoKardia currently has a consensus rating of “Buy” and an average price target of $55.00.

MyoKardia (NASDAQ MYOK) opened at $35.70 on Friday. MyoKardia has a 12-month low of $10.55 and a 12-month high of $49.55.

MyoKardia (NASDAQ:MYOK) last released its earnings results on Thursday, November 2nd. The biotechnology company reported ($0.42) earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of ($0.42). MyoKardia had a negative return on equity of 14.92% and a negative net margin of 53.49%. The firm had revenue of $5.63 million for the quarter, compared to analysts’ expectations of $6.10 million. During the same quarter in the previous year, the business posted ($0.35) earnings per share. The business’s revenue for the quarter was up 58.6% on a year-over-year basis. equities research analysts predict that MyoKardia will post -1.62 EPS for the current fiscal year.

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In related news, Director Kevin P. Starr sold 75,313 shares of the stock in a transaction dated Tuesday, October 3rd. The stock was sold at an average price of $40.28, for a total transaction of $3,033,607.64. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Anastasios Gianakakos sold 4,300 shares of the stock in a transaction dated Tuesday, September 5th. The stock was sold at an average price of $43.02, for a total value of $184,986.00. Following the sale, the insider now directly owns 512,463 shares in the company, valued at approximately $22,046,158.26. The disclosure for this sale can be found here. Insiders have sold a total of 1,713,513 shares of company stock worth $72,678,568 in the last ninety days. Insiders own 33.40% of the company’s stock.

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. GSA Capital Partners LLP bought a new position in MyoKardia in the 3rd quarter worth about $1,478,000. Cubist Systematic Strategies LLC bought a new position in MyoKardia in the 3rd quarter worth about $355,000. RTW Investments LP bought a new position in MyoKardia in the 3rd quarter worth about $10,882,000. VHCP Management II LLC bought a new position in MyoKardia in the 3rd quarter worth about $11,355,000. Finally, Dimensional Fund Advisors LP bought a new position in MyoKardia in the 3rd quarter worth about $212,000. Institutional investors and hedge funds own 44.93% 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 result from biomechanical defects in cardiac muscle contraction. The Company is engaged in the business of developing and commercializing therapeutics.

Analyst Recommendations for MyoKardia (NASDAQ:MYOK)

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