Wedbush reissued their outperform rating on shares of Myokardia (NASDAQ:MYOK) in a report issued on Friday. They currently have a $77.00 price objective on the biotechnology company’s stock.

Other equities research analysts have also recently issued research reports about the company. Citigroup began coverage on Myokardia in a research report on Friday, September 28th. They set a buy rating and a $90.00 target price for the company. BidaskClub raised Myokardia from a buy rating to a strong-buy rating in a research report on Thursday, August 9th. Zacks Investment Research raised Myokardia from a sell rating to a hold rating in a research report on Tuesday, August 14th. Credit Suisse Group upped their target price on Myokardia from $70.00 to $73.00 and gave the stock an outperform rating in a research report on Thursday, August 9th. Finally, Cantor Fitzgerald began coverage on Myokardia in a research report on Monday, October 1st. They set an overweight rating and a $90.00 target price for the company. One investment analyst has rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the stock. The company presently has an average rating of Buy and an average price target of $75.82.

Shares of NASDAQ MYOK traded down $2.21 during trading hours on Friday, hitting $57.93. The stock had a trading volume of 220,274 shares, compared to its average volume of 245,312. Myokardia has a 52 week low of $32.80 and a 52 week high of $67.79.

Myokardia (NASDAQ:MYOK) last announced its earnings results on Wednesday, August 8th. The biotechnology company reported ($0.49) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.50) by $0.01. The firm had revenue of $6.64 million during the quarter, compared to analysts’ expectations of $6.32 million. Myokardia had a negative return on equity of 21.07% and a negative net margin of 222.07%. As a group, equities analysts forecast that Myokardia will post -2.03 earnings per share for the current year.

In other news, insider Marc Semigran sold 45,000 shares of the stock in a transaction that occurred on Wednesday, September 5th. The stock was sold at an average price of $59.53, for a total value of $2,678,850.00. Following the completion of the sale, the insider now directly owns 41,400 shares of the company’s stock, valued at $2,464,542. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Anastasios Gianakakos sold 3,000 shares of the stock in a transaction that occurred on Monday, November 5th. The shares were sold at an average price of $56.57, for a total value of $169,710.00. Following the completion of the sale, the insider now directly owns 75,087 shares of the company’s stock, valued at $4,247,671.59. The disclosure for this sale can be found here. Insiders have sold 59,978 shares of company stock valued at $3,571,000 in the last ninety days. Company insiders own 33.40% of the company’s stock.

Institutional investors and hedge funds have recently bought and sold shares of the company. Wells Fargo & Company MN boosted its position in shares of Myokardia by 12.2% in the second quarter. Wells Fargo & Company MN now owns 276,633 shares of the biotechnology company’s stock valued at $13,735,000 after acquiring an additional 30,115 shares during the period. Rhumbline Advisers boosted its position in shares of Myokardia by 56.7% in the second quarter. Rhumbline Advisers now owns 29,228 shares of the biotechnology company’s stock valued at $1,451,000 after acquiring an additional 10,579 shares during the period. Great West Life Assurance Co. Can boosted its position in shares of Myokardia by 92.7% in 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 acquiring an additional 1,576 shares during the period. Redmile Group LLC bought a new stake in shares of Myokardia in the second quarter valued at approximately $356,000. Finally, Rhenman & Partners Asset Management AB boosted its position in shares of Myokardia by 17.8% in the second quarter. Rhenman & Partners Asset Management AB now owns 198,272 shares of the biotechnology company’s stock valued at $9,844,000 after acquiring an additional 30,000 shares during the period. 87.71% of the stock is owned by institutional investors.

About Myokardia

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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Analyst Recommendations for Myokardia (NASDAQ:MYOK)

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