In a report released today, Alethia Young from Cantor Fitzgerald reiterated a Buy rating on MyoKardia Inc (MYOK), with a price target of $90. The company’s shares opened today at $45.93.
Young noted:
“. We are reiterating our Overweight rating and 12-month price target of $90. We view MyoKardia having all assets in house as a positive. MYOK today announced that partner Sanofi (SNY, Not Covered) decided not to continue the collaboration beyond the research term ended YE18, which gave them ex-US rights to mavacamten and a US co-develop/co-promote agreement for MYK-491. Besides supplying cash, we don’t really know what other strategic benefit SNY could provide ultimately.”
According to TipRanks.com, Young is a 4-star analyst with an average return of 2.7% and a 42.9% success rate. Young covers the Healthcare sector, focusing on stocks such as Vertex Pharmaceuticals, Sarepta Therapeutics, and Puma Biotechnology.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for MyoKardia Inc with a $81.50 average price target.
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Based on MyoKardia Inc’s latest earnings release for the quarter ending September 30, the company reported a quarterly GAAP net loss of $15.79 million. In comparison, last year the company had a GAAP net loss of $7.4 million.
Based on the recent corporate insider activity of 40 insiders, corporate insider sentiment is negative on the stock.
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MyoKardia, Inc. operates as a biopharmaceutical company. It engages in the discovery, development, and commercialization of targeted therapies for the treatment of cardiovascular diseases.
