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

Shares of Cytokinetics, Incorporated (NASDAQ:CYTK) have been given a consensus rating of “Moderate Buy” by the fifteen analysts that are covering the firm, Marketbeat Ratings reports. Four research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $80.67.

Several equities research analysts recently weighed in on CYTK shares. Needham & Company LLC reaffirmed a “buy” rating and set a $72.00 target price on shares of Cytokinetics in a research note on Tuesday, September 3rd. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Cytokinetics in a research report on Monday, September 9th. JMP Securities reiterated a “market outperform” rating and issued a $78.00 target price on shares of Cytokinetics in a report on Wednesday, September 4th. HC Wainwright restated a “buy” rating and set a $90.00 price target on shares of Cytokinetics in a report on Monday. Finally, The Goldman Sachs Group lowered Cytokinetics from a “buy” rating to a “neutral” rating and reduced their price target for the company from $85.00 to $60.00 in a research report on Tuesday, August 13th.

Insiders Place Their Bets

In other news, CEO Robert I. Blum sold 11,500 shares of the company’s stock in a transaction on Wednesday, July 10th. The shares were sold at an average price of $54.29, for a total value of $624,335.00. Following the completion of the transaction, the chief executive officer now owns 399,412 shares in the company, valued at approximately $21,684,077.48. The sale was disclosed in a document filed with the SEC, which is available at this link. In related news, CEO Robert I. Blum sold 11,500 shares of the business’s stock in a transaction on Wednesday, July 10th. The shares were sold at an average price of $54.29, for a total value of $624,335.00. Following the completion of the sale, the chief executive officer now directly owns 399,412 shares of the company’s stock, valued at $21,684,077.48. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Fady Ibraham Malik sold 7,300 shares of the firm’s stock in a transaction dated Tuesday, July 9th. The stock was sold at an average price of $55.90, for a total value of $408,070.00. Following the transaction, the executive vice president now directly owns 131,004 shares in the company, valued at approximately $7,323,123.60. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 89,037 shares of company stock valued at $4,994,252. 3.40% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Cytokinetics

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its position in shares of Cytokinetics by 2.5% during the fourth quarter. Vanguard Group Inc. now owns 11,016,889 shares of the biopharmaceutical company’s stock worth $919,800,000 after acquiring an additional 273,565 shares during the last quarter. Darwin Global Management Ltd. purchased a new position in Cytokinetics during the 2nd quarter worth $246,074,000. Integral Health Asset Management LLC increased its stake in Cytokinetics by 122.2% in the second quarter. Integral Health Asset Management LLC now owns 1,000,000 shares of the biopharmaceutical company’s stock valued at $54,180,000 after purchasing an additional 550,000 shares during the period. Hood River Capital Management LLC raised its holdings in shares of Cytokinetics by 5.9% in the second quarter. Hood River Capital Management LLC now owns 737,637 shares of the biopharmaceutical company’s stock valued at $39,965,000 after buying an additional 40,990 shares during the last quarter. Finally, Westfield Capital Management Co. LP acquired a new stake in shares of Cytokinetics during the first quarter worth about $51,277,000.

Cytokinetics Trading Up 0.9 %

CYTK opened at $52.80 on Tuesday. Cytokinetics has a 52 week low of $25.98 and a 52 week high of $110.25. The company has a quick ratio of 10.39, a current ratio of 10.39 and a debt-to-equity ratio of 5.93. The business has a fifty day simple moving average of $55.71 and a 200-day simple moving average of $58.67. The firm has a market cap of $5.54 billion, a P/E ratio of -9.78 and a beta of 0.77.

Cytokinetics (NASDAQ:CYTK) last announced its earnings results on Thursday, August 8th. The biopharmaceutical company reported ($1.31) EPS for the quarter, missing analysts’ consensus estimates of ($1.06) by ($0.25). The company had revenue of $0.25 million during the quarter, compared to the consensus estimate of $7.61 million. Cytokinetics’s revenue for the quarter was down 71.3% compared to the same quarter last year. During the same period last year, the business earned ($1.34) EPS. On average, equities analysts expect that Cytokinetics will post -5.15 earnings per share for the current year.

About Cytokinetics

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.