MyoKardia, Inc. (MYOK) Formed Wedge Down Chart Pattern; Sellers Are Thriving

December 7, 2017 - By Dolores Ford

The stock of MyoKardia, Inc. (MYOK) formed a down wedge with $35.57 target or 4.00 % below today’s $37.05 share price. The 9 months wedge indicates high risk for the $1.32 billion company. If the $35.57 price target is reached, the company will be worth $52.96M less.
Falling wedges are poor performers for bullish breakouts and are tricky moments to trade. Investors must be aware that the break even failure rate for up or down breakouts is: 11% and 15%. The average rise is 32% and the decline is 15%. The falling wedges has high throwback and pullback rate: 56%, 69% and the percent of wedges meeting target is not very high.

The stock increased 11.60% or $3.85 during the last trading session, reaching $37.05. About 669,978 shares traded or 65.03% up from the average. MyoKardia, Inc. (NASDAQ:MYOK) has risen 11.16% since December 8, 2016 and is uptrending. It has underperformed by 5.54% the S&P500.

Analysts await MyoKardia, Inc. (NASDAQ:MYOK) to report earnings on March, 12. They expect $-0.39 earnings per share, down 188.64 % or $0.83 from last year’s $0.44 per share. After $-0.42 actual earnings per share reported by MyoKardia, Inc. for the previous quarter, Wall Street now forecasts -7.14 % EPS growth.

MyoKardia, Inc. (NASDAQ:MYOK) Ratings Coverage

Among 5 analysts covering MyoKardia (NASDAQ:MYOK), 5 have Buy rating, 0 Sell and 0 Hold. Therefore 100% are positive. MyoKardia had 5 analyst reports since November 23, 2015 according to SRatingsIntel. On Friday, December 4 the stock rating was initiated by Wells Fargo with “Outperform”. Cowen & Co initiated it with “Outperform” rating and $24 target in Monday, November 23 report. Credit Suisse initiated it with “Outperform” rating and $18 target in Monday, November 23 report. The firm has “Outperform” rating given on Wednesday, July 20 by BMO Capital Markets. The stock of MyoKardia, Inc. (NASDAQ:MYOK) has “Outperform” rating given on Monday, November 23 by Wedbush.

More news for MyoKardia, Inc. (NASDAQ:MYOK) were recently published by: Fool.com, which released: “Here’s Why Myokardia Inc. Stock Shot Up Today” on August 07, 2017. Globenewswire.com‘s article titled: “MyoKardia Presents Data from Study of Machine Learning Algorithm Intended to …” and published on November 14, 2017 is yet another important article.

Receive News & Ratings Via Email - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings with our FREE daily email newsletter.