MyoKardia Inc (MYOK) Gets a Buy Rating from Cantor Fitzgerald


Cantor Fitzgerald analyst Alethia Young initiated coverage with a Buy rating on MyoKardia Inc (NASDAQ: MYOK) on September 28 and set a price target of $90. The company’s shares opened today at $60.21.

Young observed:

“: We are initiating coverage of Overweight rating and a 12-month price target of $90. MyoKardia is a cardiovascular company that has a precision medicine-based platform to treat certain rare cardiac conditions. Its lead asset is mavacamten, which is in Ph3 for treating hypertrophic cardiomyopathy (HCM). We believe MyoKardia’s targeted approach toward the biomechanical defect of the heart (specifically the sarcomere) to be successful in HCM.”

According to TipRanks.com, Young is a 4-star analyst with an average return of 8.5% and a 51.6% success rate. Young covers the Healthcare sector, focusing on stocks such as Vertex Pharmaceuticals, Puma Biotechnology, and Intercept Pharma.

MyoKardia Inc has an analyst consensus of Strong Buy, with a price target consensus of $77.75, representing a 29.1% upside. In a report issued on September 28, Citigroup also initiated coverage with a Buy rating on the stock with a $90 price target.

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Based on MyoKardia Inc’s latest earnings release for the quarter ending June 30, the company reported a quarterly GAAP net loss of $18.41 million. In comparison, last year the company had a GAAP net loss of $12.84 million.

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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.

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