Morgan Stanley set a $71.00 price objective on Myokardia (NASDAQ:MYOK) in a research report sent to investors on Monday, TipRanks reports. The brokerage currently has a buy rating on the biotechnology company’s stock.
Several other research analysts have also weighed in on the company. Zacks Investment Research raised Golub Capital BDC from a hold rating to a buy rating and set a $20.00 price target on the stock in a research report on Tuesday. BidaskClub lowered Inovio Pharmaceuticals from a sell rating to a strong sell rating in a research report on Saturday, June 1st. ValuEngine lowered Zogenix from a strong-buy rating to a buy rating in a research report on Thursday, April 11th. TheStreet raised TELUS from a c+ rating to a b- rating in a research report on Thursday, April 4th. Finally, Cantor Fitzgerald reaffirmed a buy rating and set a $27.00 price target on shares of Spero Therapeutics in a research report on Thursday, May 9th. Two research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The company presently has a consensus rating of Buy and a consensus price target of $75.75.
Myokardia stock traded down $0.27 during midday trading on Monday, reaching $49.82. The stock had a trading volume of 196,246 shares, compared to its average volume of 499,242. The company’s fifty day moving average is $48.27. Myokardia has a 1-year low of $39.01 and a 1-year high of $67.79. The stock has a market capitalization of $2.29 billion, a PE ratio of -28.31 and a beta of 2.06.
In related news, insider Anastasios Gianakakos sold 4,000 shares of the business’s stock in a transaction that occurred on Friday, July 5th. The stock was sold at an average price of $49.73, for a total transaction of $198,920.00. Following the transaction, the insider now directly owns 116,470 shares of the company’s stock, valued at approximately $5,792,053.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 4.30% of the stock is currently owned by insiders.
Hedge funds have recently bought and sold shares of the stock. FMR LLC boosted its stake in Myokardia by 12.4% in the 1st quarter. FMR LLC now owns 6,786,728 shares of the biotechnology company’s stock valued at $352,842,000 after purchasing an additional 746,122 shares during the period. Marshall Wace LLP bought a new stake in shares of Myokardia during the 1st quarter valued at $23,678,000. Norges Bank bought a new stake in shares of Myokardia during the 4th quarter valued at $13,088,000. Marshall Wace North America L.P. lifted its position in shares of Myokardia by 5,541.2% during the 1st quarter. Marshall Wace North America L.P. now owns 252,612 shares of the biotechnology company’s stock valued at $13,133,000 after acquiring an additional 248,134 shares during the period. Finally, Spark Investment Management LLC acquired a new position in shares of Myokardia during the 1st quarter worth $6,436,000. 99.64% of the stock is currently owned by institutional investors and hedge funds.
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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