-$0.50 Earnings Per Share Expected for Myokardia Inc (MYOK) This Quarter
Analysts expect Myokardia Inc (NASDAQ:MYOK) to report ($0.50) earnings per share (EPS) for the current quarter, according to Zacks. Two analysts have issued estimates for Myokardia’s earnings, with the highest EPS estimate coming in at ($0.33) and the lowest estimate coming in at ($0.69). Myokardia reported earnings per share of ($0.42) in the same quarter last year, which indicates a negative year over year growth rate of 19%. The company is scheduled to announce its next quarterly earnings results on Thursday, November 1st.
On average, analysts expect that Myokardia will report full-year earnings of ($2.03) per share for the current fiscal year, with EPS estimates ranging from ($2.52) to ($1.65). For the next fiscal year, analysts expect that the business will report earnings of ($3.12) per share, with EPS estimates ranging from ($5.99) to ($1.28). Zacks Investment Research’s EPS calculations are a mean average based on a survey of sell-side research analysts that follow Myokardia.
Myokardia (NASDAQ:MYOK) last posted its quarterly earnings data on Wednesday, August 8th. The biotechnology company reported ($0.49) EPS for the quarter, topping analysts’ consensus estimates of ($0.50) by $0.01. The business had revenue of $6.64 million for the quarter, compared to analyst estimates of $6.32 million. Myokardia had a negative return on equity of 21.16% and a negative net margin of 249.22%.
Shares of Myokardia stock traded up $2.41 during trading on Friday, reaching $52.95. The company’s stock had a trading volume of 377,611 shares, compared to its average volume of 367,621. The firm has a market capitalization of $2.62 billion, a PE ratio of -37.82 and a beta of 3.40. Myokardia has a one year low of $32.80 and a one year high of $67.79.
In other Myokardia news, insider Anastasios Gianakakos sold 3,000 shares of Myokardia stock in a transaction that occurred on Monday, August 6th. The stock was sold at an average price of $57.47, for a total transaction of $172,410.00. Following the sale, the insider now directly owns 77,949 shares of the company’s stock, valued at $4,479,729.03. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Jake Bauer sold 7,500 shares of Myokardia stock in a transaction that occurred on Monday, July 23rd. The shares were sold at an average price of $56.88, for a total value of $426,600.00. Following the sale, the insider now directly owns 68,106 shares in the company, valued at $3,873,869.28. The disclosure for this sale can be found here. Insiders have sold 66,500 shares of company stock worth $3,946,070 over the last 90 days. Corporate insiders own 4.70% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Great West Life Assurance Co. Can boosted its holdings in Myokardia by 92.7% during the second quarter. Great West Life Assurance Co. Can now owns 3,276 shares of the biotechnology company’s stock valued at $163,000 after purchasing an additional 1,576 shares in the last quarter. SG Americas Securities LLC acquired a new stake in Myokardia during the second quarter valued at approximately $191,000. Amalgamated Bank acquired a new stake in Myokardia during the second quarter valued at approximately $231,000. California Public Employees Retirement System acquired a new stake in Myokardia during the first quarter valued at approximately $242,000. Finally, Legal & General Group Plc boosted its holdings in Myokardia by 36.0% during the second quarter. Legal & General Group Plc now owns 4,961 shares of the biotechnology company’s stock valued at $247,000 after purchasing an additional 1,312 shares in the last quarter. 87.95% of the stock is currently owned by institutional investors.
Myokardia Company Profile
MyoKardia, Inc, a clinical stage biopharmaceutical company, discovers, develops, and commercializes therapies for the treatment of rare cardiovascular diseases. Its lead product candidate is mavacamten, an orally administered small molecule, which has completed Phase II clinical trial that is designed to reduce left ventricular contractility to potentially alleviate the functional consequences and symptoms of hypertrophic cardiomyopathy (HCM) and prevent or reverse HCM progression.
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