Myokardia (NASDAQ:MYOK) Price Target Increased to $96.00 by Analysts at Wells Fargo & Co
Myokardia (NASDAQ:MYOK) had its target price increased by Wells Fargo & Co from $82.00 to $96.00 in a report issued on Friday, The Fly reports. Wells Fargo & Co currently has a positive rating on the biotechnology company’s stock.
Other equities research analysts also recently issued research reports about the company. BidaskClub downgraded Myokardia from a strong-buy rating to a buy rating in a research report on Tuesday, January 7th. Citigroup increased their price objective on Myokardia from $70.00 to $87.00 and gave the company a buy rating in a research report on Friday, December 20th. Guggenheim started coverage on Myokardia in a research report on Thursday, September 19th. They set a buy rating for the company. Cowen reiterated a buy rating and set a $73.00 price objective on shares of Myokardia in a research report on Monday, November 11th. Finally, Maxim Group reiterated an average rating on shares of Myokardia in a research report on Monday, October 28th. Four research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. The company currently has an average rating of Buy and a consensus price target of $82.00.
NASDAQ MYOK traded down $1.44 on Friday, reaching $73.74. 327,773 shares of the stock traded hands, compared to its average volume of 370,694. The firm’s fifty day simple moving average is $70.03 and its 200 day simple moving average is $58.52. The company has a market cap of $3.41 billion, a price-to-earnings ratio of -41.90 and a beta of 2.07. Myokardia has a 12 month low of $39.01 and a 12 month high of $78.28.
In other news, CEO Anastasios Gianakakos sold 5,000 shares of the stock in a transaction on Tuesday, January 14th. The stock was sold at an average price of $75.39, for a total value of $376,950.00. Following the completion of the sale, the chief executive officer now owns 91,777 shares in the company, valued at $6,919,068.03. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Taylor C. Harris sold 1,683 shares of the stock in a transaction on Monday, January 6th. The shares were sold at an average price of $68.45, for a total value of $115,201.35. Following the completion of the sale, the chief financial officer now owns 4,993 shares of the company’s stock, valued at approximately $341,770.85. The disclosure for this sale can be found here. Insiders have sold a total of 91,929 shares of company stock valued at $6,197,464 in the last quarter. Insiders own 4.30% of the company’s stock.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Myokardia by 20.7% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,382 shares of the biotechnology company’s stock valued at $176,000 after purchasing an additional 579 shares in the last quarter. Quadrant Capital Group LLC purchased a new stake in shares of Myokardia in the third quarter valued at $33,000. California State Teachers Retirement System lifted its holdings in shares of Myokardia by 1.2% in the third quarter. California State Teachers Retirement System now owns 69,233 shares of the biotechnology company’s stock valued at $3,611,000 after purchasing an additional 827 shares in the last quarter. IFP Advisors Inc purchased a new stake in shares of Myokardia in the fourth quarter valued at $61,000. Finally, Rhumbline Advisers lifted its holdings in shares of Myokardia by 1.5% in the third quarter. Rhumbline Advisers now owns 59,327 shares of the biotechnology company’s stock valued at $3,094,000 after purchasing an additional 891 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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