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 $50.11.
Young observed:
“: Reiterate OW and $90 PT. 6-month open label data on mavacamten continues to look clean around dosing safety. Although a small cohort, these data reinforce our confidence in dosing safety in Ph3 EXPLORER. At current levels, we think that potential mavacamten opportunity remains unappreciated. We estimate 2027 unadjusted US sales of $1.7B, which assumes 45k (obstructive and non-obstructive) patients are treated. From our recent meetings on the road, we think that interest and awareness are rising in the MYOK story. We spoke to the full team post call and highlight our takes below. Open-label mavacamten data in 10 patients at 6 months reinforces our confidence in Ph3 success.”
According to TipRanks.com, Young is a 4-star analyst with an average return of 6.8% and a 48.9% 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 $78.33 average price target, which is a 56.3% upside from current levels. In a report issued on February 21, BMO Capital also initiated coverage with a Buy rating on the stock with a $85 price target.
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Based on MyoKardia Inc’s latest earnings release for the quarter ending December 31, the company reported a quarterly GAAP net loss of $15.7 million. In comparison, last year the company had a GAAP net loss of $7.4 million.
Based on the recent corporate insider activity of 43 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.
