Myokardia Inc (MYOK) Stock Faces Higher Risks Forward After Forming Bearish Double Bottom Pattern

July 17, 2017 - By Clifton Ray

The chart of Myokardia Inc (MYOK) shows a double bottom with $12.74 target or 8.00 % below today’s $13.85 share price. The 6 months chart pattern indicates high risk for the $455.39 million company. It was reported on Jul, 17 by Finviz.com. If the $12.74 price target is reached, the company will be worth $36.43M less. Double bottoms are rare but powerful chart patterns.

It closed at $13.85 lastly. It is down 11.16% since July 17, 2016 and is uptrending. It has underperformed by 5.54% the S&P500.

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. The firm has “Outperform” rating given on Friday, December 4 by Wells Fargo. On Monday, November 23 the stock rating was initiated by Cowen & Co with “Outperform”. On Wednesday, July 20 the stock rating was initiated by BMO Capital Markets with “Outperform”. The stock of Myokardia Inc (NASDAQ:MYOK) earned “Outperform” rating by Wedbush on Monday, November 23. Credit Suisse initiated it with “Outperform” rating and $18 target in Monday, November 23 report.

More notable recent Myokardia Inc (NASDAQ:MYOK) news were published by: Globenewswire.com which released: “MyoKardia to Present at 2016 Wells Fargo Healthcare Conference” on September 01, 2016, also Globenewswire.com with their article: “MyoKardia Announces Appointment of June Lee, MD, as Chief Operating Officer …” published on February 01, 2017, Globenewswire.com published: “MyoKardia Announces Appointment of Marc Semigran, MD, as Chief Medical Officer” on December 01, 2016. More interesting news about Myokardia Inc (NASDAQ:MYOK) were released by: Globenewswire.com and their article: “MyoKardia Announces Pricing of Proposed Public Offering of Common Stock” published on September 27, 2016 as well as Globenewswire.com‘s news article titled: “MyoKardia Announces Presentations at American Heart Association Scientific …” with publication date: November 04, 2016.

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