Equities research analysts expect Myokardia Inc (NASDAQ:MYOK) to report sales of $5.63 million for the current quarter, according to Zacks. Two analysts have provided estimates for Myokardia’s earnings. Myokardia posted sales of $28.55 million in the same quarter last year, which would indicate a negative year over year growth rate of 80.3%. The firm is scheduled to report its next earnings report on Monday, March 12th.

According to Zacks, analysts expect that Myokardia will report full year sales of $5.63 million for the current fiscal year, with estimates ranging from $22.50 million to $25.00 million. For the next financial year, analysts forecast that the business will report sales of $31.50 million per share, with estimates ranging from $22.50 million to $40.00 million. Zacks’ sales averages are a mean average based on a survey of sell-side research analysts that that provide coverage for Myokardia.

Myokardia (NASDAQ:MYOK) last announced its quarterly earnings data on Thursday, November 2nd. The biotechnology company reported ($0.42) earnings per share for the quarter, meeting the Zacks’ consensus estimate of ($0.42). Myokardia had a negative return on equity of 14.92% and a negative net margin of 53.49%. The company had revenue of $5.63 million for the quarter, compared to analyst estimates of $6.10 million. During the same quarter in the previous year, the company earned ($0.35) EPS. The firm’s revenue for the quarter was up 58.6% compared to the same quarter last year.

Several equities research analysts have recently commented on MYOK shares. Zacks Investment Research raised Myokardia from a “sell” rating to a “hold” rating in a research note on Tuesday, October 17th. TheStreet lowered Myokardia from a “c” rating to a “d+” rating in a research note on Friday, November 3rd. ValuEngine lowered Myokardia from a “hold” rating to a “sell” rating in a research note on Friday, December 1st. JPMorgan Chase & Co. started coverage on Myokardia in a research note on Tuesday, December 12th. They set an “overweight” rating and a $54.00 price target on the stock. Finally, BidaskClub raised Myokardia from a “sell” rating to a “hold” rating in a research note on Tuesday, December 12th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and six have issued a buy rating to the company’s stock. Myokardia has an average rating of “Buy” and a consensus price target of $55.67.

In related news, insider Anastasios Gianakakos sold 3,000 shares of Myokardia stock in a transaction that occurred on Thursday, December 21st. The stock was sold at an average price of $41.09, for a total transaction of $123,270.00. Following the completion of the transaction, the insider now directly owns 512,117 shares in the company, valued at approximately $21,042,887.53. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Kevin P. Starr sold 816,326 shares of Myokardia stock in a transaction that occurred on Wednesday, January 3rd. The stock was sold at an average price of $42.00, for a total value of $34,285,692.00. The disclosure for this sale can be found here. Insiders have sold a total of 840,326 shares of company stock valued at $35,376,662 over the last 90 days. Insiders own 33.40% of the company’s stock.

Institutional investors have recently modified their holdings of the stock. Hershey Trust Co. raised its position in shares of Myokardia by 26.0% during the 3rd quarter. Hershey Trust Co. now owns 20,064 shares of the biotechnology company’s stock worth $860,000 after purchasing an additional 4,145 shares during the last quarter. EAM Investors LLC acquired a new position in shares of Myokardia during the 3rd quarter worth approximately $4,216,000. Wells Fargo & Company MN raised its position in shares of Myokardia by 2,151.7% during the 3rd quarter. Wells Fargo & Company MN now owns 417,439 shares of the biotechnology company’s stock worth $17,887,000 after purchasing an additional 398,900 shares during the last quarter. Schwab Charles Investment Management Inc. raised its position in shares of Myokardia by 40.3% during the 3rd quarter. Schwab Charles Investment Management Inc. now owns 80,718 shares of the biotechnology company’s stock worth $3,459,000 after purchasing an additional 23,172 shares during the last quarter. Finally, Northern Trust Corp raised its position in shares of Myokardia by 31.9% during the 2nd quarter. Northern Trust Corp now owns 202,983 shares of the biotechnology company’s stock worth $2,658,000 after purchasing an additional 49,044 shares during the last quarter. Hedge funds and other institutional investors own 63.82% of the company’s stock.

Shares of Myokardia (NASDAQ MYOK) opened at $48.05 on Friday. The firm has a market capitalization of $1,720.00 and a P/E ratio of -64.93. Myokardia has a twelve month low of $10.80 and a twelve month high of $55.40.

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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.

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Earnings History and Estimates for Myokardia (NASDAQ:MYOK)

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