Wells Fargo restated their outperform rating on shares of MyoKardia (NASDAQ:MYOK) in a report issued on Friday. The firm currently has a $70.00 price target on the biotechnology company’s stock.

MYOK has been the topic of a number of other research reports. BidaskClub downgraded MyoKardia from a hold rating to a sell rating in a report on Tuesday, March 20th. Zacks Investment Research upgraded MyoKardia from a hold rating to a buy rating and set a $59.00 price objective on the stock in a report on Tuesday, March 13th. BMO Capital Markets increased their price objective on MyoKardia from $65.00 to $83.00 and gave the company an outperform rating in a report on Friday, March 9th. ValuEngine upgraded MyoKardia from a sell rating to a hold rating in a report on Friday, February 2nd. Finally, Wedbush increased their price objective on MyoKardia from $51.00 to $69.00 and gave the company an outperform rating in a report on Friday, March 9th. Three equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. MyoKardia has an average rating of Buy and an average target price of $65.57.

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Shares of NASDAQ MYOK opened at $49.10 on Friday. MyoKardia has a 1-year low of $10.80 and a 1-year high of $62.83. The stock has a market cap of $1,787.20, a price-to-earnings ratio of -35.07 and a beta of 3.64.

MyoKardia (NASDAQ:MYOK) last released its quarterly earnings data on Thursday, March 8th. The biotechnology company reported ($0.21) EPS for the quarter, beating analysts’ consensus estimates of ($0.41) by $0.20. MyoKardia had a negative return on equity of 24.58% and a negative net margin of 204.48%. The business had revenue of $5.60 million for the quarter, compared to the consensus estimate of $5.63 million. equities analysts expect that MyoKardia will post -1.35 earnings per share for the current year.

In related news, insider Jake Bauer sold 5,000 shares of the company’s stock in a transaction dated Wednesday, April 11th. The stock was sold at an average price of $50.00, for a total value of $250,000.00. Following the completion of the sale, the insider now directly owns 66,777 shares of the company’s stock, valued at approximately $3,338,850. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Anastasios Gianakakos sold 3,000 shares of the company’s stock in a transaction dated Monday, February 5th. The shares were sold at an average price of $51.05, for a total value of $153,150.00. Following the completion of the sale, the insider now directly owns 77,390 shares of the company’s stock, valued at $3,950,759.50. The disclosure for this sale can be found here. Over the last three months, insiders sold 19,164 shares of company stock valued at $1,038,566. Insiders own 33.40% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Handelsbanken Fonder AB boosted its position in shares of MyoKardia by 86.7% in the 4th quarter. Handelsbanken Fonder AB now owns 28,000 shares of the biotechnology company’s stock valued at $1,179,000 after purchasing an additional 13,000 shares during the period. MetLife Investment Advisors LLC acquired a new stake in shares of MyoKardia in the 4th quarter valued at about $384,000. Iguana Healthcare Management LLC acquired a new stake in shares of MyoKardia in the 4th quarter valued at about $2,105,000. Jane Street Group LLC acquired a new stake in shares of MyoKardia in the 4th quarter valued at about $213,000. Finally, Millennium Management LLC acquired a new stake in shares of MyoKardia in the 4th quarter valued at about $20,661,000. 83.49% of the stock is owned by hedge funds and other institutional investors.

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About MyoKardia

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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