Cantor Fitzgerald analyst Alethia Young reiterated a Buy rating on MyoKardia Inc (MYOK) today and set a price target of $90. The company’s shares opened today at $58.40.
Young commented:
“. We are reiterating our Overweight rating and 12-month price target of $90. This morning MyoKardia announced positive Ph1b single- ascending data for MYK-491 in dilated cardiomyopathy (DCM), demonstrating a ~10% increase in cardiac contractility across multiple echo measures (left ventricle ejection fraction, stroke volume, and fractional shortening). While investors are more focused on the Ph2a data for 491 expected in 4Q19, we think these results were in line with expectations and increase our confidence in MYOK’s ability to build a pipeline beyond mavacamten.”
According to TipRanks.com, Young is a 4-star analyst with an average return of 4.2% and a 45.8% success rate. Young covers the Healthcare sector, focusing on stocks such as Vertex Pharmaceuticals, Sarepta Therapeutics, and Puma Biotechnology.
MyoKardia Inc has an analyst consensus of Strong Buy, with a price target consensus of $84.33.
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The company has a one-year high of $67.79 and a one-year low of $35.55. Currently, MyoKardia Inc has an average volume of 258.7K.
Based on the recent corporate insider activity of 38 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.
