Cytokinetics (NASDAQ:CYTK) Rating Reiterated by HC Wainwright

HC Wainwright restated their buy rating on shares of Cytokinetics (NASDAQ:CYTK) in a research report sent to investors on Monday morning, Benzinga reports. The firm currently has a $90.00 target price on the biopharmaceutical company’s stock.

Several other equities analysts have also recently weighed in on the company. The Goldman Sachs Group cut Cytokinetics from a buy rating to a neutral rating and decreased their price objective for the company from $85.00 to $60.00 in a report on Tuesday, August 13th. B. Riley decreased their price objective on Cytokinetics from $122.00 to $92.00 and set a buy rating for the company in a report on Tuesday, June 4th. JPMorgan Chase & Co. raised their target price on shares of Cytokinetics from $65.00 to $71.00 and gave the company an overweight rating in a research note on Thursday, September 5th. Cantor Fitzgerald reiterated an overweight rating on shares of Cytokinetics in a research note on Monday, September 9th. Finally, JMP Securities reiterated a market outperform rating and issued a $78.00 target price on shares of Cytokinetics in a research note on Wednesday, September 4th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of Moderate Buy and an average price target of $80.67.

Cytokinetics Price Performance

CYTK stock opened at $55.71 on Monday. The stock has a 50-day moving average price of $55.53 and a two-hundred day moving average price of $58.54. The stock has a market cap of $5.84 billion, a PE ratio of -10.32 and a beta of 0.77. The company has a current ratio of 10.39, a quick ratio of 10.39 and a debt-to-equity ratio of 5.93. Cytokinetics has a 1 year low of $25.98 and a 1 year high of $110.25.

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

Insiders Place Their Bets

In other Cytokinetics news, Director B Lynne Parshall sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, July 15th. The shares were sold at an average price of $55.82, for a total transaction of $279,100.00. Following the completion of the sale, the director now directly owns 20,600 shares in the company, valued at $1,149,892. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other Cytokinetics news, Director B Lynne Parshall sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, July 15th. The shares were sold at an average price of $55.82, for a total transaction of $279,100.00. Following the completion of the sale, the director now directly owns 20,600 shares in the company, valued at $1,149,892. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Fady Ibraham Malik sold 7,300 shares of the firm’s stock in a transaction that occurred on Tuesday, July 9th. The stock was sold at an average price of $55.90, for a total transaction of $408,070.00. Following the sale, the executive vice president now owns 131,004 shares of the company’s stock, valued at $7,323,123.60. The disclosure for this sale can be found here. Insiders sold 96,084 shares of company stock worth $5,360,766 over the last three months. Insiders own 3.40% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in CYTK. J.Safra Asset Management Corp increased its holdings in shares of Cytokinetics by 642.3% during the second quarter. J.Safra Asset Management Corp now owns 527 shares of the biopharmaceutical company’s stock worth $29,000 after purchasing an additional 456 shares during the period. EntryPoint Capital LLC bought a new position in shares of Cytokinetics during the first quarter worth approximately $74,000. Bessemer Group Inc. increased its holdings in shares of Cytokinetics by 25,100.0% during the first quarter. Bessemer Group Inc. now owns 1,260 shares of the biopharmaceutical company’s stock worth $88,000 after purchasing an additional 1,255 shares during the period. Quarry LP increased its holdings in shares of Cytokinetics by 233.3% during the second quarter. Quarry LP now owns 2,000 shares of the biopharmaceutical company’s stock worth $108,000 after purchasing an additional 1,400 shares during the period. Finally, nVerses Capital LLC bought a new position in shares of Cytokinetics during the second quarter worth approximately $190,000.

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.