ValuEngine lowered shares of MyoKardia (NASDAQ:MYOK) from a hold rating to a sell rating in a research report sent to investors on Friday.

Several other brokerages also recently issued reports on MYOK. Wedbush reissued an outperform rating and set a $51.00 price target on shares of MyoKardia in a report on Wednesday, September 20th. Credit Suisse Group reaffirmed an outperform rating and issued a $55.00 price objective (up previously from $45.00) on shares of MyoKardia in a report on Tuesday, September 19th. Zacks Investment Research downgraded shares of MyoKardia from a hold rating to a sell rating in a report on Wednesday, October 11th. TheStreet downgraded shares of MyoKardia from a c rating to a d+ rating in a report on Friday, November 3rd. Finally, BMO Capital Markets reissued an outperform rating and issued a $65.00 price target (up from $45.00) on shares of MyoKardia in a report on Monday, August 21st. One analyst has rated the stock with a sell rating, one has issued a hold rating, five have issued a buy rating and one has given a strong buy rating to the company’s stock. The company currently has an average rating of Buy and an average price target of $55.00.

Shares of MyoKardia (NASDAQ:MYOK) traded up $1.40 on Friday, hitting $38.15. 281,653 shares of the stock traded hands, compared to its average volume of 316,332. MyoKardia has a 52 week low of $10.55 and a 52 week high of $49.55.

MyoKardia (NASDAQ:MYOK) last announced its quarterly earnings results on Thursday, November 2nd. The biotechnology company reported ($0.42) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.42). MyoKardia had a negative net margin of 53.49% and a negative return on equity of 14.92%. The company had revenue of $5.63 million during the quarter, compared to the consensus estimate of $6.10 million. During the same quarter in the previous year, the company posted ($0.35) earnings per share. The company’s revenue for the quarter was up 58.6% compared to the same quarter last year. sell-side analysts expect that MyoKardia will post -1.62 EPS for the current year.

In other MyoKardia news, Director Kevin P. Starr sold 601,400 shares of the business’s stock in a transaction dated Tuesday, September 26th. The stock was sold at an average price of $43.00, for a total transaction of $25,860,200.00. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Anastasios Gianakakos sold 4,300 shares of the business’s stock in a transaction dated Tuesday, September 5th. The stock was sold at an average price of $43.02, for a total value of $184,986.00. Following the sale, the insider now owns 512,463 shares in the company, valued at approximately $22,046,158.26. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,713,513 shares of company stock worth $72,678,568. Corporate insiders own 33.40% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of MYOK. Wells Fargo & Company MN increased its holdings in MyoKardia by 2,151.7% in the third quarter. Wells Fargo & Company MN now owns 417,439 shares of the biotechnology company’s stock worth $17,887,000 after buying an additional 398,900 shares during the last quarter. VHCP Management II LLC acquired a new position in MyoKardia in the third quarter worth approximately $11,355,000. RTW Investments LP acquired a new position in MyoKardia in the third quarter worth approximately $10,882,000. JPMorgan Chase & Co. increased its holdings in MyoKardia by 103.5% in the second quarter. JPMorgan Chase & Co. now owns 476,575 shares of the biotechnology company’s stock worth $6,243,000 after buying an additional 242,408 shares during the last quarter. Finally, Fernwood Investment Management LLC increased its holdings in MyoKardia by 409.1% in the third quarter. Fernwood Investment Management LLC now owns 246,382 shares of the biotechnology company’s stock worth $10,557,000 after buying an additional 197,989 shares during the last quarter. Institutional investors own 63.50% of the company’s stock.

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MyoKardia Company Profile

MyoKardia, Inc is a clinical-stage biopharmaceutical company. The Company focuses on the treatment of heritable cardiomyopathies, a group of rare, genetically-driven forms of heart failure that result from biomechanical defects in cardiac muscle contraction. The Company is engaged in the business of developing and commercializing therapeutics.

Analyst Recommendations for MyoKardia (NASDAQ:MYOK)

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