Myokardia (NASDAQ:MYOK) Research Coverage Started at Guggenheim

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Guggenheim assumed coverage on shares of Myokardia (NASDAQ:MYOK) in a research report released on Thursday, September 19th, BenzingaRatingsTable reports. The firm issued a buy rating on the biotechnology company’s stock.

A number of other brokerages have also recently weighed in on MYOK. Cowen reiterated a buy rating and issued a $73.00 target price on shares of Myokardia in a report on Thursday, August 8th. ValuEngine upgraded Myokardia from a buy rating to a strong-buy rating in a report on Thursday, August 1st. Morgan Stanley set a $71.00 target price on Myokardia and gave the company a buy rating in a report on Monday, July 15th. BidaskClub upgraded Myokardia from a hold rating to a buy rating in a report on Wednesday, July 24th. Finally, Zacks Investment Research upgraded Myokardia from a sell rating to a hold rating in a report on Tuesday, August 13th. Two equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. The stock currently has an average rating of Buy and an average target price of $76.89.

Shares of MYOK stock traded up $0.22 during mid-day trading on Thursday, hitting $53.55. 107,488 shares of the company’s stock were exchanged, compared to its average volume of 325,741. Myokardia has a fifty-two week low of $39.01 and a fifty-two week high of $64.40. The stock has a market cap of $2.45 billion, a price-to-earnings ratio of -30.43 and a beta of 2.05. The stock has a 50-day simple moving average of $53.86 and a two-hundred day simple moving average of $51.20.

Myokardia (NASDAQ:MYOK) last issued its earnings results on Wednesday, August 7th. The biotechnology company reported ($0.83) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.79) by ($0.04). As a group, sell-side analysts anticipate that Myokardia will post -4.32 EPS for the current year.

In other Myokardia news, insider Anastasios Gianakakos sold 4,000 shares of the firm’s stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $53.23, for a total value of $212,920.00. Following the transaction, the insider now directly owns 107,670 shares of the company’s stock, valued at $5,731,274.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP June Lee sold 4,565 shares of the firm’s stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $57.00, for a total value of $260,205.00. Following the completion of the transaction, the executive vice president now directly owns 9,144 shares in the company, valued at $521,208. The disclosure for this sale can be found here. Insiders sold 57,751 shares of company stock worth $3,326,603 over the last three months. 4.30% of the stock is currently owned by corporate insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the company. Amundi Pioneer Asset Management Inc. purchased a new stake in shares of Myokardia during the first quarter worth about $68,000. Aperio Group LLC purchased a new stake in shares of Myokardia during the second quarter worth about $92,000. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Myokardia by 39.3% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,803 shares of the biotechnology company’s stock worth $141,000 after acquiring an additional 791 shares during the last quarter. Prudential Financial Inc. purchased a new stake in shares of Myokardia during the second quarter worth about $223,000. Finally, Stanley Laman Group Ltd. purchased a new stake in shares of Myokardia during the second quarter worth about $264,000.

About Myokardia

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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Analyst Recommendations for Myokardia (NASDAQ:MYOK)

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