Cytokinetics, Incorporated (NASDAQ:CYTK) Receives $80.67 Consensus Target Price from Brokerages

Cytokinetics, Incorporated (NASDAQ:CYTK) has been assigned an average recommendation of “Moderate Buy” from the fifteen research firms that are currently covering the stock, MarketBeat reports. Four equities research analysts have rated the stock with a hold recommendation and eleven have issued a buy recommendation on the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $80.67.

A number of equities analysts have recently commented on the stock. HC Wainwright restated a “buy” rating and set a $90.00 price objective on shares of Cytokinetics in a research note on Friday, September 20th. B. Riley lowered their price target on Cytokinetics from $122.00 to $92.00 and set a “buy” rating on the stock in a research report on Tuesday, June 4th. Needham & Company LLC reiterated a “buy” rating and set a $72.00 price objective on shares of Cytokinetics in a research note on Tuesday, September 3rd. JMP Securities restated a “market outperform” rating and set a $78.00 target price on shares of Cytokinetics in a report on Wednesday, September 4th. Finally, Cantor Fitzgerald reissued an “overweight” rating on shares of Cytokinetics in a research report on Monday, September 9th.

Cytokinetics Stock Down 0.6 %

Cytokinetics stock opened at $52.34 on Tuesday. Cytokinetics has a twelve month low of $25.98 and a twelve month 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 company has a 50 day moving average of $55.80 and a 200-day moving average of $58.78. The stock has a market capitalization of $5.49 billion, a PE ratio of -9.69 and a beta of 0.77.

Cytokinetics (NASDAQ:CYTK) last posted its quarterly earnings data 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 firm had revenue of $0.25 million for the quarter, compared to the consensus estimate of $7.61 million. During the same quarter in the previous year, the business earned ($1.34) EPS. The firm’s revenue was down 71.3% compared to the same quarter last year. On average, equities research analysts anticipate that Cytokinetics will post -5.15 EPS for the current fiscal year.

Insiders Place Their Bets

In other Cytokinetics news, EVP Fady Ibraham Malik sold 7,300 shares of the stock in a transaction that occurred on Tuesday, July 9th. The shares were sold at an average price of $55.90, for a total transaction of $408,070.00. Following the transaction, the executive vice president now owns 131,004 shares in the company, valued at approximately $7,323,123.60. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Cytokinetics news, CEO Robert I. Blum sold 11,500 shares of the business’s stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $54.05, for a total transaction of $621,575.00. Following the completion of the transaction, the chief executive officer now directly owns 405,145 shares in the company, valued at $21,898,087.25. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Fady Ibraham Malik sold 7,300 shares of the firm’s stock in a transaction on Tuesday, July 9th. The shares were sold at an average price of $55.90, for a total value of $408,070.00. Following the completion of the sale, 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. Insiders have sold 100,537 shares of company stock worth $5,626,227 in the last 90 days. Company insiders own 3.40% of the company’s stock.

Hedge Funds Weigh In On Cytokinetics

Institutional investors have recently modified their holdings of the business. Ghisallo Capital Management LLC bought a new position in Cytokinetics in the second quarter valued at about $10,619,000. Cetera Investment Advisers grew its holdings in shares of Cytokinetics by 128.5% during the 2nd quarter. Cetera Investment Advisers now owns 27,320 shares of the biopharmaceutical company’s stock valued at $1,480,000 after purchasing an additional 15,366 shares during the last quarter. Quarry LP increased its position in Cytokinetics by 233.3% during the 2nd quarter. Quarry LP now owns 2,000 shares of the biopharmaceutical company’s stock worth $108,000 after purchasing an additional 1,400 shares in the last quarter. Creative Planning lifted its stake in Cytokinetics by 56.1% in the 2nd quarter. Creative Planning now owns 15,727 shares of the biopharmaceutical company’s stock valued at $852,000 after purchasing an additional 5,649 shares during the last quarter. Finally, Clearline Capital LP boosted its position in Cytokinetics by 332.4% in the second quarter. Clearline Capital LP now owns 207,695 shares of the biopharmaceutical company’s stock valued at $11,253,000 after buying an additional 159,660 shares in the last quarter.

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.