Wall Street analysts expect Myokardia Inc (NASDAQ:MYOK) to report earnings of ($0.50) per share for the current fiscal quarter, according to Zacks Investment Research. Two analysts have provided estimates for Myokardia’s earnings, with the lowest EPS estimate coming in at ($0.69) and the highest estimate coming in at ($0.33). Myokardia posted earnings per share of ($0.42) in the same quarter last year, which would indicate a negative year over year growth rate of 19%. The company is expected to announce its next quarterly earnings report on Thursday, November 1st.

On average, analysts expect that Myokardia will report full year earnings of ($2.07) per share for the current fiscal year, with EPS estimates ranging from ($2.52) to ($1.65). For the next financial year, analysts expect that the company will post earnings of ($3.10) per share, with EPS estimates ranging from ($5.99) to ($1.28). Zacks’ EPS calculations are an average based on a survey of research firms that follow Myokardia.

Myokardia (NASDAQ:MYOK) last posted its quarterly earnings results on Wednesday, August 8th. The biotechnology company reported ($0.49) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.50) by $0.01. Myokardia had a negative net margin of 249.22% and a negative return on equity of 21.16%. The company had revenue of $6.64 million for the quarter, compared to the consensus estimate of $6.32 million.

A number of research firms have recently issued reports on MYOK. BidaskClub upgraded shares of Myokardia from a “buy” rating to a “strong-buy” rating in a research report on Thursday, August 9th. ValuEngine upgraded shares of Myokardia from a “buy” rating to a “strong-buy” rating in a research report on Monday, July 2nd. Zacks Investment Research upgraded shares of Myokardia from a “sell” rating to a “hold” rating in a research report on Tuesday, August 14th. Credit Suisse Group raised their price target on shares of Myokardia from $70.00 to $73.00 and gave the stock an “outperform” rating in a research report on Thursday, August 9th. Finally, Wedbush restated an “outperform” rating and issued a $64.00 price target (down from $77.00) on shares of Myokardia in a research report on Thursday, August 9th. One equities research analyst has rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $71.22.

In related news, insider Marc Semigran sold 45,000 shares of Myokardia stock in a transaction dated 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 sale, the insider now directly owns 41,400 shares in the company, valued at approximately $2,464,542. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Anastasios Gianakakos sold 3,000 shares of Myokardia stock in a transaction dated Thursday, July 5th. The shares were sold at an average price of $53.13, for a total transaction of $159,390.00. Following the completion of the sale, the insider now owns 77,949 shares in the company, valued at $4,141,430.37. The disclosure for this sale can be found here. Over the last quarter, insiders sold 61,500 shares of company stock worth $3,615,240. 4.70% of the stock is currently owned by insiders.

Large investors have recently modified their holdings of the stock. Great West Life Assurance Co. Can lifted its position in Myokardia by 92.7% in the 2nd quarter. Great West Life Assurance Co. Can now owns 3,276 shares of the biotechnology company’s stock valued at $163,000 after purchasing an additional 1,576 shares during the last quarter. SG Americas Securities LLC bought a new stake in Myokardia in the 2nd quarter valued at about $191,000. Amalgamated Bank bought a new stake in Myokardia in the 2nd quarter valued at about $231,000. California Public Employees Retirement System bought a new stake in shares of Myokardia during the 1st quarter worth about $242,000. Finally, Legal & General Group Plc raised its position in shares of 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 buying an additional 1,312 shares in the last quarter. Hedge funds and other institutional investors own 87.95% of the company’s stock.

Shares of Myokardia stock traded up $1.80 during trading hours on Wednesday, reaching $64.90. The company’s stock had a trading volume of 413,180 shares, compared to its average volume of 373,581. Myokardia has a one year low of $32.80 and a one year high of $67.15. The company has a market cap of $2.53 billion, a P/E ratio of -47.32 and a beta of 3.42.

Myokardia Company Profile

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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Earnings History and Estimates for Myokardia (NASDAQ:MYOK)

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