Cytokinetics, Incorporated (NASDAQ:CYTK) Given Average Recommendation of “Moderate Buy” by Brokerages

Cytokinetics, Incorporated (NASDAQ:CYTK) has earned an average recommendation of “Moderate Buy” from the sixteen ratings firms that are presently covering the firm, Marketbeat Ratings reports. Four investment analysts have rated the stock with a hold recommendation and twelve have assigned a buy recommendation to the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $83.93.

CYTK has been the subject of several research analyst reports. HC Wainwright restated a “buy” rating and set a $120.00 price target on shares of Cytokinetics in a research report on Monday, December 2nd. Mizuho lifted their target price on Cytokinetics from $99.00 to $103.00 and gave the company an “outperform” rating in a research report on Thursday, November 21st. Needham & Company LLC reissued a “buy” rating and set a $72.00 price target on shares of Cytokinetics in a research report on Monday, December 2nd. Cantor Fitzgerald reissued an “overweight” rating on shares of Cytokinetics in a research note on Friday, October 18th. Finally, JPMorgan Chase & Co. upped their target price on shares of Cytokinetics from $65.00 to $71.00 and gave the stock an “overweight” rating in a research note on Thursday, September 5th.

Insider Activity

In other news, Director John T. Henderson sold 1,780 shares of the company’s stock in a transaction on Wednesday, December 11th. The shares were sold at an average price of $50.42, for a total value of $89,747.60. Following the completion of the transaction, the director now owns 38,461 shares in the company, valued at approximately $1,939,203.62. This represents a 4.42 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Fady Ibraham Malik sold 7,300 shares of the stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $52.10, for a total transaction of $380,330.00. Following the completion of the transaction, the executive vice president now directly owns 118,920 shares in the company, valued at $6,195,732. This trade represents a 5.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 74,074 shares of company stock worth $3,887,395. 3.40% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Cytokinetics

Several large investors have recently bought and sold shares of the stock. Darwin Global Management Ltd. acquired a new stake in shares of Cytokinetics during the second quarter worth about $246,074,000. Geode Capital Management LLC lifted its stake in Cytokinetics by 4.0% in the third quarter. Geode Capital Management LLC now owns 2,848,584 shares of the biopharmaceutical company’s stock valued at $150,433,000 after buying an additional 109,938 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of Cytokinetics by 42.7% in 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 acquiring an additional 395,709 shares during the period. Westfield Capital Management Co. LP grew 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 worth $64,040,000 after acquiring an additional 339,373 shares during the last quarter. Finally, Janus Henderson Group PLC increased its holdings in shares of Cytokinetics by 17.2% in the 3rd quarter. Janus Henderson Group PLC now owns 1,143,830 shares of the biopharmaceutical company’s stock valued at $60,399,000 after acquiring an additional 167,501 shares during the period.

Cytokinetics Trading Down 3.2 %

Shares of CYTK stock opened at $48.65 on Friday. Cytokinetics has a 1-year low of $32.70 and a 1-year high of $110.25. The firm has a market cap of $5.74 billion, a PE ratio of -9.04 and a beta of 0.80. The company has a 50-day moving average of $52.64 and a two-hundred day moving average of $54.04. The company has a debt-to-equity ratio of 5.93, a current ratio of 9.28 and a quick ratio of 9.28.

Cytokinetics (NASDAQ:CYTK) last issued its quarterly earnings data on Wednesday, November 6th. The biopharmaceutical company reported ($1.36) EPS for the quarter, missing the consensus estimate of ($1.27) by ($0.09). The firm had revenue of $0.46 million for the quarter, compared to analysts’ expectations of $1.21 million. During the same quarter in the prior year, the company posted ($1.35) EPS. The business’s revenue was up 22.5% on a year-over-year basis. On average, analysts predict that Cytokinetics will post -5.25 EPS 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.