Cantor Fitzgerald analyst Alethia Young reiterated a Buy rating on MyoKardia Inc (NASDAQ: MYOK) today and set a price target of $90. The company’s shares closed on Friday at $53.41.
Young commented:
“: We are reiterating our Overweight rating and our 12- month price target of $90 ahead of the company’s R&D day October 30, 2018. We recently launched coverage on the name and are discussing what we think will be at the company’s R&D day on Tues. At the R&D day, we are anticipating additional information on the company’s plans to address both diastolic and systolic heart disease. The company also notes that we will get clinical data from its mavacamten and MYK-491 programs. We expect incremental data from MYK-491, but we are not expecting the Ph1b data at the R&D day (guidance is by year-end).”
According to TipRanks.com, Young is a 4-star analyst with an average return of 4.0% and a 45.1% success rate. Young covers the Healthcare sector, focusing on stocks such as Vertex Pharmaceuticals, Puma Biotechnology, and Intercept Pharma.
Currently, the analyst consensus on MyoKardia Inc is a Strong Buy with an average price target of $82.50.
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The company has a one-year high of $67.79 and a one-year low of $32.80. Currently, MyoKardia Inc has an average volume of 260K.
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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.
