Myokardia Inc (MYOK) Given Average Recommendation of “Buy” by Analysts
Myokardia Inc (NASDAQ:MYOK) has received a consensus rating of “Buy” from the thirteen brokerages that are currently covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a hold recommendation, eleven have given a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price target among brokerages that have covered the stock in the last year is $78.00.
MYOK has been the topic of a number of research reports. Citigroup initiated coverage on shares of Myokardia in a research note on Friday, September 28th. They set a “buy” rating and a $90.00 target price on the stock. BidaskClub lowered shares of Myokardia from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, July 31st. Zacks Investment Research raised shares of Myokardia from a “sell” rating to a “hold” rating in a research note on Tuesday, August 14th. Credit Suisse Group lifted their target price on shares of Myokardia from $70.00 to $73.00 and gave the company an “outperform” rating in a research note on Thursday, August 9th. Finally, Wedbush reaffirmed an “outperform” rating and set a $64.00 target price (down previously from $77.00) on shares of Myokardia in a research note on Thursday, August 9th.
Shares of MYOK traded down $2.21 during trading hours on Monday, reaching $57.93. 220,274 shares of the company traded hands, compared to its average volume of 245,312. Myokardia has a 12 month low of $32.80 and a 12 month high of $67.79.
In related news, insider Jake Bauer sold 978 shares of the business’s stock in a transaction dated Friday, November 2nd. The shares were sold at an average price of $55.45, for a total transaction of $54,230.10. Following the sale, the insider now owns 60,878 shares of the company’s stock, valued at $3,375,685.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Marc Semigran sold 45,000 shares of the business’s stock in a transaction dated Wednesday, September 5th. The stock was sold at an average price of $59.53, for a total transaction 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 disclosure for this sale can be found here. Insiders have sold 59,978 shares of company stock worth $3,571,000 in the last three months. 33.40% of the stock is currently owned by insiders.
A number of large investors have recently bought and sold shares of MYOK. Partner Fund Management L.P. boosted its stake in Myokardia by 91.5% during the second quarter. Partner Fund Management L.P. now owns 1,819,315 shares of the biotechnology company’s stock worth $90,329,000 after acquiring an additional 869,404 shares in the last quarter. BlackRock Inc. boosted its stake in Myokardia by 45.6% during the second quarter. BlackRock Inc. now owns 2,627,459 shares of the biotechnology company’s stock worth $130,454,000 after acquiring an additional 822,404 shares in the last quarter. FMR LLC boosted its stake in Myokardia by 11.2% during the second quarter. FMR LLC now owns 5,990,112 shares of the biotechnology company’s stock worth $297,409,000 after acquiring an additional 601,567 shares in the last quarter. BB Biotech AG bought a new stake in Myokardia during the second quarter worth about $23,832,000. Finally, Millennium Management LLC boosted its stake in Myokardia by 120.9% during the second quarter. Millennium Management LLC now owns 477,857 shares of the biotechnology company’s stock worth $23,726,000 after acquiring an additional 261,532 shares in the last quarter. 87.71% of the stock is currently owned by institutional investors and hedge funds.
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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