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Fly News Breaks for May 20, 2019
MYOK
May 20, 2019 | 06:50 EDT
JPMorgan analyst Anupam Rama raised his price target for MyoKardia to $85 from $75 citing the potential of the company's lead asset mavacamten for the treatment of hypertrophic cardiomyopathy. There is a significant unmet need in hypertrophic cardiomyopathy and need for new treatment options, Rama tells investors in a research note. Further, his work suggests that physicians view the totality of PIONEER-HCM data as "very encouraging / impressive." The analyst estimates mavacamten has $2.5B-plus sales potential in the U.S. alone. He keeps an Overweight rating on shares of MyoKardia and believes the stock has the potential to double.
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