Myokardia (MYOK) Raised to Strong-Buy at BidaskClub
BidaskClub upgraded shares of Myokardia (NASDAQ:MYOK) from a buy rating to a strong-buy rating in a research note published on Thursday morning.
MYOK has been the topic of a number of other reports. Zacks Investment Research upgraded Myokardia from a hold rating to a buy rating and set a $54.00 target price on the stock in a research report on Thursday, May 10th. ValuEngine upgraded Myokardia from a hold rating to a buy rating in a research note on Saturday, June 2nd. Cowen restated a buy rating and set a $73.00 price target on shares of Myokardia in a research note on Tuesday, May 22nd. Bank of America began coverage on Myokardia in a research note on Tuesday, July 10th. They set a buy rating and a $71.00 price target for the company. Finally, Wells Fargo & Co restated an outperform rating and set a $70.00 price target on shares of Myokardia in a research note on Friday, April 13th. One analyst has rated the stock with a sell rating, seven have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Myokardia has an average rating of Buy and an average price target of $71.13.
MYOK stock traded up $1.45 during trading on Thursday, hitting $59.80. 175,728 shares of the company’s stock were exchanged, compared to its average volume of 227,416. Myokardia has a 52-week low of $32.65 and a 52-week high of $63.00.
In other news, insider Anastasios Gianakakos sold 3,000 shares of the firm’s stock in a transaction on Thursday, July 5th. The stock was sold at an average price of $53.13, for a total value of $159,390.00. Following the completion of the sale, the insider now owns 77,949 shares of the company’s stock, valued at $4,141,430.37. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, major shareholder Sanofi bought 150,000 shares of the firm’s stock in a transaction dated Friday, May 25th. The stock was acquired at an average cost of $49.00 per share, with a total value of $7,350,000.00. The disclosure for this purchase can be found here. Over the last quarter, insiders have sold 16,500 shares of company stock worth $899,250. 33.40% of the stock is owned by insiders.
Several institutional investors have recently modified their holdings of MYOK. Great West Life Assurance Co. Can boosted its position in Myokardia by 92.7% during the second quarter. Great West Life Assurance Co. Can now owns 3,276 shares of the biotechnology company’s stock valued at $163,000 after purchasing an additional 1,576 shares during the last quarter. SG Americas Securities LLC bought a new position in shares of Myokardia in the second quarter worth about $191,000. Amalgamated Bank bought a new position in shares of Myokardia in the second quarter worth about $231,000. California Public Employees Retirement System bought a new position in shares of Myokardia in the first quarter worth about $242,000. Finally, Legal & General Group Plc increased its stake in shares of Myokardia by 36.0% in the second quarter. Legal & General Group Plc now owns 4,961 shares of the biotechnology company’s stock worth $247,000 after purchasing an additional 1,312 shares during the period. 84.19% of the stock is owned by institutional investors and hedge funds.
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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