Myokardia (NASDAQ:MYOK) had its price objective upped by Credit Suisse Group from $77.00 to $82.00 in a research note issued to investors on Tuesday morning, The Fly reports. Credit Suisse Group currently has a positive rating on the biotechnology company’s stock.
MYOK has been the subject of a number of other research reports. ValuEngine lowered Myokardia from a buy rating to a hold rating in a research note on Friday, January 3rd. Morgan Stanley raised their price objective on Myokardia from $70.00 to $75.00 and gave the company an overweight rating in a research note on Tuesday, December 17th. Citigroup raised their price objective on Myokardia from $70.00 to $87.00 and gave the company a buy rating in a research note on Friday, December 20th. JPMorgan Chase & Co. restated a buy rating on shares of Myokardia in a research note on Friday, February 7th. Finally, Cowen restated a buy rating and set a $73.00 price objective on shares of Myokardia in a research note on Monday, November 11th. Four investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. The stock has a consensus rating of Buy and an average price target of $82.36.
MYOK stock opened at $70.40 on Tuesday. Myokardia has a 1 year low of $41.66 and a 1 year high of $78.28. The firm has a market cap of $3.25 billion, a P/E ratio of -13.49 and a beta of 2.09. The stock has a 50-day simple moving average of $71.42 and a 200-day simple moving average of $61.19.
In other news, insider Jake Bauer sold 13,096 shares of Myokardia stock in a transaction that occurred on Wednesday, November 27th. The stock was sold at an average price of $65.13, for a total value of $852,942.48. Following the completion of the transaction, the insider now owns 53,134 shares in the company, valued at approximately $3,460,617.42. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Taylor C. Harris sold 1,683 shares of Myokardia stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $68.45, for a total value of $115,201.35. Following the completion of the transaction, the chief financial officer now owns 4,993 shares of the company’s stock, valued at approximately $341,770.85. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 89,828 shares of company stock valued at $6,099,362. 4.30% of the stock is owned by insiders.
Institutional investors and hedge funds have recently modified their holdings of the company. California State Teachers Retirement System grew its position in shares of Myokardia by 1.2% in the 3rd quarter. California State Teachers Retirement System now owns 69,233 shares of the biotechnology company’s stock worth $3,611,000 after acquiring an additional 827 shares in the last quarter. Man Group plc acquired a new position in shares of Myokardia in the 3rd quarter worth approximately $1,335,000. Assenagon Asset Management S.A. acquired a new position in shares of Myokardia in the 4th quarter worth approximately $3,223,000. State of New Jersey Common Pension Fund D acquired a new position in shares of Myokardia in the 3rd quarter worth approximately $2,357,000. Finally, Castleark Management LLC acquired a new position in shares of Myokardia in the 3rd quarter worth approximately $6,945,000.
Myokardia Company Profile
MyoKardia, Inc, a clinical stage biopharmaceutical company, discovers, develops, and commercializes targeted therapies for the treatment of serious and neglected rare cardiovascular diseases. Its lead product candidate is mavacamten, an orally administered small molecule, which is in Phase III clinical trial that is designed to reduce left ventricular contractility to alleviate the functional consequences and symptoms of obstructive hypertrophic cardiomyopathy (HCM) and prevent or reverse HCM progression, as well as in Phase II clinical trial for non-obstructive HCM.
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