Equities research analysts expect Myokardia Inc (NASDAQ:MYOK) to report earnings of ($0.48) per share for the current quarter, Zacks reports. Two analysts have made estimates for Myokardia’s earnings, with the lowest EPS estimate coming in at ($0.59) and the highest estimate coming in at ($0.31). Myokardia posted earnings per share of ($0.21) during the same quarter last year, which suggests a negative year-over-year growth rate of 128.6%. The company is scheduled to announce its next earnings results on Thursday, March 14th.
On average, analysts expect that Myokardia will report full year earnings of ($1.86) per share for the current year, with EPS estimates ranging from ($1.97) to ($1.69). For the next year, analysts forecast that the firm will post earnings of ($2.76) per share, with EPS estimates ranging from ($4.24) to ($1.20). Zacks Investment Research’s EPS calculations are a mean average based on a survey of sell-side analysts that that provide coverage for Myokardia.
A number of analysts have weighed in on MYOK shares. BidaskClub cut shares of Myokardia from a “strong-buy” rating to a “buy” rating in a report on Thursday, October 4th. Cantor Fitzgerald began coverage on shares of Myokardia in a report on Monday, October 1st. They issued an “overweight” rating and a $90.00 price objective on the stock. JPMorgan Chase & Co. increased their price objective on shares of Myokardia from $80.00 to $81.00 and gave the stock an “overweight” rating in a report on Friday, August 10th. Morgan Stanley began coverage on shares of Myokardia in a report on Monday, September 10th. They issued an “overweight” rating and a $72.00 price objective on the stock. Finally, Citigroup began coverage on shares of Myokardia in a report on Friday, September 28th. They issued a “buy” rating and a $90.00 price objective on the stock. Twelve research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. Myokardia currently has a consensus rating of “Buy” and an average target price of $76.64.
In related news, insider June Lee sold 5,000 shares of the stock in a transaction dated Friday, September 21st. The shares were sold at an average price of $63.13, for a total value of $315,650.00. Following the sale, the insider now owns 5,426 shares of the company’s stock, valued at approximately $342,543.38. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Marc Semigran sold 45,000 shares of the 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 completion of 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. In the last ninety days, insiders sold 59,978 shares of company stock worth $3,571,000. Corporate insiders own 33.40% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the business. Great West Life Assurance Co. Can increased its stake 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 valued at $163,000 after buying an additional 1,576 shares during the period. SG Americas Securities LLC acquired a new position in Myokardia during the 2nd quarter valued at about $191,000. Prudential Financial Inc. acquired a new position in Myokardia during the 3rd quarter valued at about $205,000. Amalgamated Bank acquired a new position in Myokardia during the 2nd quarter valued at about $231,000. Finally, California Public Employees Retirement System acquired a new position in Myokardia during the 1st quarter valued at about $242,000. 87.78% of the stock is currently owned by hedge funds and other institutional investors.
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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