In a report released yesterday, Alethia Young from Cantor Fitzgerald reiterated a Buy rating on MyoKardia Inc (MYOK), with a price target of $90. The company’s shares closed yesterday at $53.86.
Young noted:
“: Reiterate OW and $90 PT. We hosted MyoKardia management (CEO, the road today after the recent PIONEER open-label data for mavacamten at ACC on Sunday. We think management has increased confidence in the overall profile of mavacamten and potential success in the Ph3 EXPLORER data in 2H20. Over 2H19, we think investors will focus more on the pipeline beyond mavacamten in obstructive HCM (oHCM). Key catalysts include 1) completing EXPLORER enrollment, 2) MAVERICK data in non-obstructive HCM (nHCM, n=60) and 3) MYK-491 dose-finding data in dilated cardiomyopathy (DCM).”
According to TipRanks.com, Young is a 5-star analyst with an average return of 9.3% and a 52.9% success rate. Young covers the Healthcare sector, focusing on stocks such as Spectrum Pharmaceuticals, Vertex Pharmaceuticals, and Sarepta Therapeutics.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for MyoKardia Inc with a $78.71 average price target, a 46.1% upside from current levels. In a report issued on March 4, BMO Capital also maintained a Buy rating on the stock with a $90 price target.
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The company has a one-year high of $67.79 and a one-year low of $39.01. Currently, MyoKardia Inc has an average volume of 550.2K.
Based on the recent corporate insider activity of 41 insiders, corporate insider sentiment is neutral 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.
