Cytokinetics, Incorporated (NASDAQ:CYTK) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Cytokinetics, Incorporated (NASDAQ:CYTK) has been given a consensus rating of “Moderate Buy” by the fifteen research firms that are currently covering the stock, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a hold recommendation and thirteen have assigned a buy recommendation to the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $82.79.

CYTK has been the subject of a number of recent research reports. Royal Bank of Canada increased their price objective on Cytokinetics from $80.00 to $82.00 and gave the company an “outperform” rating in a report on Wednesday, December 18th. HC Wainwright restated a “buy” rating and set a $120.00 price objective on shares of Cytokinetics in a research report on Tuesday, January 21st. Mizuho upped their target price on Cytokinetics from $99.00 to $103.00 and gave the company an “outperform” rating in a report on Thursday, November 21st. Needham & Company LLC reissued a “buy” rating and set a $72.00 target price on shares of Cytokinetics in a research report on Monday, December 2nd. Finally, Stifel Nicolaus started coverage on shares of Cytokinetics in a research report on Wednesday, January 22nd. They issued a “buy” rating and a $80.00 price target on the stock.

Insider Activity

In related news, CEO Robert I. Blum sold 5,000 shares of the stock in a transaction on Monday, November 18th. The stock was sold at an average price of $50.55, for a total value of $252,750.00. Following the transaction, the chief executive officer now directly owns 397,456 shares in the company, valued at $20,091,400.80. This trade represents a 1.24 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Fady Ibraham Malik sold 6,342 shares of the business’s stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $58.48, for a total transaction of $370,880.16. Following the sale, the executive vice president now owns 113,878 shares of the company’s stock, valued at $6,659,585.44. This trade represents a 5.28 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 37,464 shares of company stock worth $1,929,566 in the last three months. Company insiders own 3.40% of the company’s stock.

Institutional Investors Weigh In On Cytokinetics

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Geode Capital Management LLC boosted its stake in Cytokinetics by 4.0% during the 3rd quarter. Geode Capital Management LLC now owns 2,848,584 shares of the biopharmaceutical company’s stock valued at $150,433,000 after purchasing an additional 109,938 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of Cytokinetics by 42.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,321,391 shares of the biopharmaceutical company’s stock valued at $69,769,000 after buying an additional 395,709 shares during the last quarter. Westfield Capital Management Co. LP boosted its position in shares of Cytokinetics by 38.9% during the third quarter. Westfield Capital Management Co. LP now owns 1,212,886 shares of the biopharmaceutical company’s stock valued at $64,040,000 after buying an additional 339,373 shares during the last quarter. Janus Henderson Group PLC grew its holdings in Cytokinetics by 17.2% during the third quarter. Janus Henderson Group PLC now owns 1,143,830 shares of the biopharmaceutical company’s stock worth $60,399,000 after buying an additional 167,501 shares in the last quarter. Finally, Fisher Asset Management LLC raised its position in Cytokinetics by 1.5% in the 3rd quarter. Fisher Asset Management LLC now owns 542,284 shares of the biopharmaceutical company’s stock valued at $28,633,000 after buying an additional 7,764 shares during the last quarter.

Cytokinetics Stock Performance

NASDAQ:CYTK opened at $49.46 on Monday. The stock’s 50-day moving average is $48.75 and its 200-day moving average is $52.67. Cytokinetics has a 1-year low of $44.49 and a 1-year high of $84.05. The company has a current ratio of 9.28, a quick ratio of 9.28 and a debt-to-equity ratio of 5.93. The stock has a market cap of $5.84 billion, a P/E ratio of -9.19 and a beta of 0.82.

Cytokinetics (NASDAQ:CYTK) last posted its earnings results on Wednesday, November 6th. The biopharmaceutical company reported ($1.36) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.27) by ($0.09). The business had revenue of $0.46 million for the quarter, compared to analysts’ expectations of $1.21 million. Cytokinetics’s revenue was up 22.5% on a year-over-year basis. During the same quarter last year, the firm earned ($1.35) earnings per share. Equities research analysts anticipate that Cytokinetics will post -5.25 earnings per share for the current year.

Cytokinetics Company Profile

Cytokinetics, Incorporated, a late-stage biopharmaceutical company, focuses on discovering, developing, and commercializing muscle activators and inhibitors as potential treatments for debilitating diseases. The company develops small molecule drug candidates primarily engineered to impact muscle function and contractility.