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

By Carrie Williams

Cantor Fitzgerald analyst Alethia Young maintained a Buy rating on MyoKardia Inc (MYOKResearch Report) yesterday and set a price target of $90. The company’s shares closed yesterday at $47.95.

Young observed:

“: 12-month price target of $90. MYOK reported earnings this evening and an increased cash balance of ~ $630M after raising capital in 1Q19. We think that the company is well-capitalized to take advantage of its research discovery platform. One key update today was that the MAVERICK study (non-obstructive) has completed enrollment. We expect that this study will be an important catalyst for the company in 4Q19; we still think that current share levels do not reflect credit for non-obstructive. We still see additional pipeline catalysts beyond mavacamten in obstructive in 2H 2019 that keep us very positive on shares at the current level.”

According to TipRanks.com, Young is a 4-star analyst with an average return of 6.8% and a 45.9% success rate. Young covers the Healthcare sector, focusing on stocks such as BioMarin Pharmaceutical Inc., Spectrum Pharmaceuticals, and Vertex Pharmaceuticals.

MyoKardia Inc has an analyst consensus of Strong Buy, with a price target consensus of $85.

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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 631.9K.

Based on the recent corporate insider activity of 35 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.