Cytokinetics (NASDAQ:CYTK) Given “Overweight” Rating at Cantor Fitzgerald

Cytokinetics (NASDAQ:CYTK)‘s stock had its “overweight” rating reiterated by equities researchers at Cantor Fitzgerald in a report issued on Monday, Benzinga reports.

Other equities analysts have also issued reports about the company. HC Wainwright reaffirmed a “buy” rating and issued a $90.00 price objective on shares of Cytokinetics in a research note on Monday. B. Riley reduced their price objective on Cytokinetics from $122.00 to $92.00 and set a “buy” rating on the stock in a research note on Tuesday, June 4th. JMP Securities reissued a “market outperform” rating and set a $78.00 price target on shares of Cytokinetics in a research report on Wednesday, September 4th. Bank of America dropped their price objective on Cytokinetics from $70.00 to $60.00 and set a “neutral” rating on the stock in a report on Thursday, May 23rd. Finally, Barclays lowered their price target on Cytokinetics from $100.00 to $95.00 and set an “overweight” rating for the company in a report on Thursday, May 23rd. One research analyst has rated the stock with a sell rating, four have issued a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $80.67.

Cytokinetics Trading Up 2.7 %

NASDAQ:CYTK traded up $1.44 during mid-day trading on Monday, reaching $55.53. The company’s stock had a trading volume of 447,566 shares, compared to its average volume of 2,306,955. The company’s fifty day simple moving average is $56.23 and its two-hundred day simple moving average is $60.47. The company has a debt-to-equity ratio of 5.93, a current ratio of 10.39 and a quick ratio of 10.39. Cytokinetics has a twelve month low of $25.98 and a twelve month high of $110.25. The stock has a market cap of $6.53 billion, a P/E ratio of -10.28 and a beta of 0.77.

Cytokinetics (NASDAQ:CYTK) last issued its quarterly earnings results on Thursday, August 8th. The biopharmaceutical company reported ($1.31) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.06) by ($0.25). The business had revenue of $0.25 million during the quarter, compared to analysts’ expectations of $7.61 million. During the same quarter last year, the firm posted ($1.34) earnings per share. The company’s revenue was down 71.3% compared to the same quarter last year. On average, equities analysts predict that Cytokinetics will post -5.1 EPS for the current year.

Insider Activity at Cytokinetics

In other Cytokinetics news, Director B Lynne Parshall sold 5,000 shares of the business’s stock in a transaction on Monday, June 17th. The stock was sold at an average price of $52.55, for a total value of $262,750.00. Following the sale, the director now directly owns 20,600 shares in the company, valued at $1,082,530. The sale was disclosed in a filing with the SEC, which is accessible through this link. In related news, Director B Lynne Parshall sold 5,000 shares of the business’s stock in a transaction on Monday, June 17th. The stock was sold at an average price of $52.55, for a total transaction of $262,750.00. Following the sale, the director now directly owns 20,600 shares in the company, valued at approximately $1,082,530. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Fady Ibraham Malik sold 7,788 shares of the business’s stock in a transaction dated Tuesday, June 11th. The stock was sold at an average price of $53.04, for a total value of $413,075.52. Following the transaction, the executive vice president now owns 135,004 shares of the company’s stock, valued at $7,160,612.16. The disclosure for this sale can be found here. Insiders have sold a total of 143,125 shares of company stock valued at $7,877,709 over the last 90 days. Insiders own 3.40% of the company’s stock.

Institutional Investors Weigh In On Cytokinetics

Several institutional investors have recently bought and sold shares of the stock. Vestal Point Capital LP bought a new position in Cytokinetics during the 4th quarter valued at approximately $4,174,000. State of Michigan Retirement System bought a new position in Cytokinetics during the 1st quarter valued at approximately $1,690,000. Susquehanna Fundamental Investments LLC bought a new position in shares of Cytokinetics in the 1st quarter worth approximately $4,703,000. Entropy Technologies LP raised its position in shares of Cytokinetics by 110.6% in the 1st quarter. Entropy Technologies LP now owns 19,433 shares of the biopharmaceutical company’s stock worth $1,362,000 after acquiring an additional 10,205 shares in the last quarter. Finally, Perceptive Advisors LLC bought a new position in shares of Cytokinetics in the 4th quarter worth approximately $2,531,000.

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.