MyoKardia (MYOK) Received its Third Buy in a Row

By Ryan Adsit

After Cowen & Co. and Morgan Stanley gave MyoKardia (NASDAQ: MYOK) a Buy rating last month, the company received another Buy, this time from Credit Suisse. Analyst Martin Auster maintained a Buy rating on MyoKardia yesterday and set a price target of $82.00. The company’s shares closed last Monday at $53.42.

According to, Auster is a 4-star analyst with an average return of 5.1% and a 38.6% success rate. Auster covers the Healthcare sector, focusing on stocks such as Entasis Therapeutics Holdings, Ultragenyx Pharmaceutical, and BioMarin Pharmaceutical.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for MyoKardia with a $86.33 average price target, a 67.0% upside from current levels. In a report issued on March 16, Cowen & Co. also maintained a Buy rating on the stock with a $104.00 price target.

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Based on MyoKardia’s latest earnings release for the quarter ending December 31, the company reported a quarterly GAAP net loss of $58.77 million. In comparison, last year the company earned revenue of $12.4 million and had a GAAP net loss of $15.68 million.

Based on the recent corporate insider activity of 38 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of MYOK in relation to earlier this year.

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MyoKardia, Inc. is a clinical-stage biopharmaceutical company, which engages in the discovery, commercialization, and development of therapies for the treatment of cardiovascular diseases. Its lead therapeutic candidate, Mavacamten, is an orally administered allosteric modulator of cardiac myosin being developed for the treatment of hypertrophic cardiomyopathy (HCM). The company was founded by James A. Spudich, Jonathan G. Seidman, Christine Seidman, and Leslie Leinwand on June 8, 2012 and is headquartered in South San Francisco, CA.