Morgan Stanley assumed coverage on shares of Myokardia (NASDAQ:MYOK) in a report issued on Monday, MarketBeat.com reports. The firm issued an overweight rating and a $72.00 price objective on the biotechnology company’s stock.

Other research analysts also recently issued research reports about the company. BidaskClub upgraded Myokardia from a sell rating to a hold rating in a research note on Wednesday, May 23rd. Cowen restated a buy rating and issued a $73.00 price objective on shares of Myokardia in a research note on Tuesday, May 22nd. ValuEngine upgraded Myokardia from a buy rating to a strong-buy rating in a research note on Monday, July 2nd. Zacks Investment Research upgraded Myokardia from a sell rating to a hold rating in a research note on Tuesday, August 14th. Finally, Credit Suisse Group upped their price objective on Myokardia from $70.00 to $73.00 and gave the company an outperform rating in a research note on Thursday, August 9th. One equities research analyst has rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has a consensus rating of Buy and an average price target of $71.22.

Shares of Myokardia stock opened at $61.10 on Monday. The firm has a market cap of $2.45 billion, a P/E ratio of -47.05 and a beta of 3.42. Myokardia has a 12-month low of $32.80 and a 12-month high of $66.55.

Myokardia (NASDAQ:MYOK) last announced its quarterly earnings data on Wednesday, August 8th. The biotechnology company reported ($0.49) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.50) by $0.01. The firm had revenue of $6.64 million during the quarter, compared to the consensus estimate of $6.32 million. Myokardia had a negative return on equity of 21.16% and a negative net margin of 249.22%. analysts forecast that Myokardia will post -2.06 EPS for the current fiscal year.

In other news, insider Anastasios Gianakakos sold 3,000 shares of the company’s stock in a transaction on Thursday, July 5th. The stock was sold at an average price of $53.13, for a total transaction of $159,390.00. Following the transaction, the insider now owns 77,949 shares of the company’s stock, valued at approximately $4,141,430.37. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Marc Semigran sold 45,000 shares of the company’s stock in a transaction on Wednesday, September 5th. The shares were sold at an average price of $59.53, for a total value of $2,678,850.00. Following the transaction, the insider now directly owns 41,400 shares in the company, valued at approximately $2,464,542. The disclosure for this sale can be found here. Insiders have sold a total of 61,500 shares of company stock worth $3,615,240 in the last ninety days. Insiders own 4.70% of the company’s stock.

Institutional investors and hedge funds have recently modified their holdings of the stock. Great West Life Assurance Co. Can lifted its holdings in Myokardia by 92.7% during the 2nd quarter. Great West Life Assurance Co. Can now owns 3,276 shares of the biotechnology company’s stock worth $163,000 after purchasing an additional 1,576 shares in the last quarter. SG Americas Securities LLC purchased a new stake in Myokardia during the 2nd quarter worth about $191,000. Amalgamated Bank purchased a new stake in Myokardia during the 2nd quarter worth about $231,000. California Public Employees Retirement System purchased a new stake in Myokardia during the 1st quarter worth about $242,000. Finally, Legal & General Group Plc lifted its holdings in Myokardia by 36.0% during the 2nd quarter. Legal & General Group Plc now owns 4,961 shares of the biotechnology company’s stock worth $247,000 after purchasing an additional 1,312 shares in the last quarter. 88.05% of the stock is currently owned by institutional investors and hedge funds.

About Myokardia

MyoKardia, Inc, a clinical stage biopharmaceutical company, discovers, develops, and commercializes therapies for the treatment of rare cardiovascular diseases. Its lead product candidate is mavacamten, an orally administered small molecule, which has completed Phase II clinical trial that is designed to reduce left ventricular contractility to potentially alleviate the functional consequences and symptoms of hypertrophic cardiomyopathy (HCM) and prevent or reverse HCM progression.

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Analyst Recommendations for Myokardia (NASDAQ:MYOK)

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