The analyst reiterates an Outperform rating on MYOK while raising the price target from $28.00 to $56.00, representing a 78% increase from where the shares last closed. With that said, researchers took a deep dive into the hotly debated question: is it too late to buy MyoKardia, Inc. The stock presently has a consensus rating of Buy and a consensus price target of $24.75.
Shares of MyoKardia (MYOK) traded up 83.97% during trading on Monday, hitting $31.55. Wells Fargo & Company now has a $48.00 target price on the biotechnology company's stock, up from their previous target price of $31.00. On a similar note, the stock is 125.13% above its 50-day moving average, providing a measure of support for short positions. The company has a market cap of $526.85 Million.
In other MyoKardia news, CEO Anastasios Gianakakos sold 4,300 shares of the business's stock in a transaction dated Friday, August 4th.
MyoKardia, Inc. on 3/30/2017 reported its EPS as $-0.37 with the analysts projecting the EPS of the stock as $-0.33. The biotechnology company reported ($0.41) EPS for the quarter, missing the Zacks' consensus estimate of ($0.37) by $0.04. The Return on Equity ratio of MyoKardia, Inc. The company had revenue of $5.60 million during the quarter, compared to the consensus estimate of $6.73 million. The firm's revenue for the quarter was up 60.0% on a year-over-year basis. Equities research analysts anticipate that MyoKardia will post ($1.63) EPS for the current fiscal year.
What Guru's think About Is MyoKardia, Inc. (NASDAQ:MYOK) stock. Over the past few months, insider ownership has seen a move of -5.28% while institutional ownership has changed 0.65%. If you are accessing this news story on another site, it was copied illegally and reposted in violation of USA & global copyright law. The legal version of this story can be accessed at https://www.thecerbatgem.com/2017/08/06/myokardia-inc-nasdaqmyok-stock-rating-upgraded-by-thestreet-updated-updated-updated.html. If the share price is now hovering near the 52 week low and the value is achieved in the current past then it can suggest that the price of the shares is likely to go up. Rhumbline Advisers now owns 18,489 shares of the biotechnology company's stock valued at $242,000 after buying an additional 5,773 shares during the period. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.
The modest proposal to sell 3.5 million shares, and offer another 525,000 to underwriters shows MyoKardia believes it has a shot at shortening the time between now and the submission of its first new drug application. Schwab Charles Investment Management Inc. increased its stake in MyoKardia by 5.8% in the first quarter. During the past three months the stock gain 135.58%, bringing six months performance to 162.08%.
In the coming months, MyoKardia intends to discuss the mavacamten clinical development plan in an End-of-Phase 2 meeting with the FDA and seek feedback on the potential for EXPLORER-HCM, its next study of mavacamten in symptomatic oHCM, to be a pivotal study with peak VO2 as the primary endpoint.
Other hedge funds have also recently bought and sold shares of the company. The company might have announced a major change in the business, such as a buyout, M&A, spin-off, R&D results or the acquisition of a new large client.