Myokardia (NASDAQ:MYOK) Upgraded by BidaskClub to “Buy”
A number of other brokerages have also commented on MYOK. Maxim Group reaffirmed an average rating on shares of Myokardia in a research report on Monday, October 28th. Guggenheim started coverage on Myokardia in a research report on Thursday, September 19th. They set a buy rating on the stock. Wedbush lifted 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. Cowen restated a buy rating and set a $73.00 price target on shares of Myokardia in a research note on Monday, November 11th. Finally, ValuEngine raised Myokardia from a buy rating to a strong-buy rating in a report on Friday, November 1st. Two research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Myokardia has an average rating of Buy and an average price target of $76.89.
Shares of Myokardia stock opened at $65.53 on Friday. Myokardia has a 1 year low of $39.01 and a 1 year high of $66.44. The company’s fifty day simple moving average is $58.71 and its 200-day simple moving average is $53.44. The company has a market cap of $2.97 billion, a price-to-earnings ratio of -37.23 and a beta of 2.07.
In other news, CEO Anastasios Gianakakos sold 5,000 shares of the stock in a transaction that occurred on Monday, November 4th. The stock was sold at an average price of $59.07, for a total value of $295,350.00. Following the completion of the transaction, the chief executive officer now directly owns 96,514 shares of the company’s stock, valued at approximately $5,701,081.98. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Jake Bauer sold 19,700 shares of the stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $60.09, for a total value of $1,183,773.00. Following the completion of the transaction, the insider now directly owns 76,068 shares of the company’s stock, valued at $4,570,926.12. The disclosure for this sale can be found here. Insiders have sold a total of 82,514 shares of company stock valued at $5,066,770 over the last ninety days. 4.30% of the stock is owned by insiders.
Hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. grew its position in Myokardia by 6.6% in the second quarter. Vanguard Group Inc. now owns 3,715,719 shares of the biotechnology company’s stock valued at $186,307,000 after acquiring an additional 228,576 shares during the period. BlackRock Inc. lifted its holdings in shares of Myokardia by 19.1% during the second quarter. BlackRock Inc. now owns 3,607,728 shares of the biotechnology company’s stock valued at $180,892,000 after acquiring an additional 577,590 shares during the period. Price T Rowe Associates Inc. MD boosted its stake in shares of Myokardia by 3.9% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 3,516,869 shares of the biotechnology company’s stock valued at $176,336,000 after purchasing an additional 132,654 shares in the last quarter. Farallon Capital Management LLC boosted its stake in shares of Myokardia by 2.5% in the 2nd quarter. Farallon Capital Management LLC now owns 2,000,000 shares of the biotechnology company’s stock valued at $100,280,000 after purchasing an additional 49,722 shares in the last quarter. Finally, Perceptive Advisors LLC boosted its stake in shares of Myokardia by 11.3% in the 2nd quarter. Perceptive Advisors LLC now owns 1,100,511 shares of the biotechnology company’s stock valued at $55,180,000 after purchasing an additional 112,000 shares in the last quarter.
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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