Several other equities research analysts have also weighed in on the company. BMO Capital Markets increased their target price on Myokardia to $90.00 and gave the stock an outperform rating in a research report on Tuesday, March 5th. ValuEngine lowered Myokardia from a strong-buy rating to a buy rating in a research report on Thursday, April 11th. Cantor Fitzgerald reaffirmed a buy rating and issued a $90.00 target price on shares of Myokardia in a research report on Monday, March 4th. Zacks Investment Research lowered Myokardia from a hold rating to a sell rating in a research report on Tuesday, March 5th. Finally, JPMorgan Chase & Co. increased their target price on Myokardia from $75.00 to $85.00 and gave the stock an overweight rating in a research report on Monday, May 20th. One equities research analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Myokardia presently has an average rating of Buy and an average price target of $75.33.
Shares of NASDAQ MYOK opened at $49.82 on Wednesday. Myokardia has a 1-year low of $39.01 and a 1-year high of $67.79. The firm has a market capitalization of $2.30 billion, a price-to-earnings ratio of -28.31 and a beta of 2.32.
In other news, CFO Taylor C. Harris sold 1,324 shares of the firm’s stock in a transaction on Friday, April 5th. The stock was sold at an average price of $53.30, for a total transaction of $70,569.20. Following the transaction, the chief financial officer now directly owns 3,750 shares of the company’s stock, valued at $199,875. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 4.70% of the stock is currently owned by company insiders.
Several institutional investors and hedge funds have recently modified their holdings of MYOK. Advisor Group Inc. increased its holdings in shares of Myokardia by 172.0% during the fourth quarter. Advisor Group Inc. now owns 514 shares of the biotechnology company’s stock valued at $25,000 after purchasing an additional 325 shares during the period. Bank of Montreal Can increased its holdings in shares of Myokardia by 71.2% during the fourth quarter. Bank of Montreal Can now owns 553 shares of the biotechnology company’s stock valued at $27,000 after purchasing an additional 230 shares during the period. Meeder Asset Management Inc. increased its holdings in shares of Myokardia by 309.1% during the first quarter. Meeder Asset Management Inc. now owns 540 shares of the biotechnology company’s stock valued at $28,000 after purchasing an additional 408 shares during the period. Group One Trading L.P. acquired a new position in shares of Myokardia during the fourth quarter valued at $31,000. Finally, Great West Life Assurance Co. Can increased its holdings in shares of Myokardia by 27.8% during the fourth quarter. Great West Life Assurance Co. Can now owns 4,188 shares of the biotechnology company’s stock valued at $197,000 after purchasing an additional 912 shares during the period. 83.01% of the stock is currently owned by institutional investors.
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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