Brokerages Set Cytokinetics, Incorporated (NASDAQ:CYTK) Price Target at $84.07

Cytokinetics, Incorporated (NASDAQ:CYTK) has earned a consensus recommendation of “Moderate Buy” from the fifteen ratings firms that are presently covering the stock, MarketBeat reports. Three research analysts have rated the stock with a hold recommendation and twelve have given a buy recommendation to the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $83.64.

A number of equities research analysts have issued reports on the stock. HC Wainwright reiterated a “buy” rating and set a $120.00 target price on shares of Cytokinetics in a report on Friday, December 20th. Cantor Fitzgerald reissued an “overweight” rating on shares of Cytokinetics in a research report on Friday, October 18th. Mizuho increased their price target on shares of Cytokinetics from $99.00 to $103.00 and gave the stock an “outperform” rating in a research note on Thursday, November 21st. Needham & Company LLC reaffirmed a “buy” rating and set a $72.00 price target on shares of Cytokinetics in a report on Monday, December 2nd. Finally, Royal Bank of Canada upped their price objective on Cytokinetics from $80.00 to $82.00 and gave the stock an “outperform” rating in a report on Wednesday, December 18th.

Cytokinetics Price Performance

Cytokinetics stock opened at $49.19 on Thursday. Cytokinetics has a 1 year low of $45.66 and a 1 year high of $110.25. The company’s fifty day moving average price is $50.74 and its 200 day moving average price is $53.65. The company has a debt-to-equity ratio of 5.93, a quick ratio of 9.28 and a current ratio of 9.28. The stock has a market capitalization of $5.81 billion, a P/E ratio of -9.14 and a beta of 0.82.

Cytokinetics (NASDAQ:CYTK) last issued its earnings results on Wednesday, November 6th. The biopharmaceutical company reported ($1.36) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.27) by ($0.09). The business had revenue of $0.46 million during the quarter, compared to analyst estimates of $1.21 million. The firm’s revenue was up 22.5% on a year-over-year basis. During the same period in the previous year, the business earned ($1.35) earnings per share. As a group, equities research analysts anticipate that Cytokinetics will post -5.25 earnings per share for the current fiscal year.

Insider Buying and Selling at Cytokinetics

In other news, EVP Fady Ibraham Malik sold 6,342 shares of the company’s stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $58.48, for a total transaction of $370,880.16. Following the completion of the sale, the executive vice president now directly owns 113,878 shares in the company, valued at $6,659,585.44. This represents a 5.28 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Wendall Wierenga sold 742 shares of Cytokinetics stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $48.61, for a total transaction of $36,068.62. Following the transaction, the director now directly owns 24,559 shares in the company, valued at approximately $1,193,812.99. This trade represents a 2.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 62,516 shares of company stock worth $3,282,433. Corporate insiders own 3.40% of the company’s stock.

Institutional Investors Weigh In On Cytokinetics

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. UMB Bank n.a. grew its position in shares of Cytokinetics by 65.6% in the 3rd quarter. UMB Bank n.a. now owns 601 shares of the biopharmaceutical company’s stock worth $32,000 after acquiring an additional 238 shares in the last quarter. Blue Trust Inc. lifted its stake in Cytokinetics by 225.9% during the third quarter. Blue Trust Inc. now owns 981 shares of the biopharmaceutical company’s stock valued at $53,000 after purchasing an additional 680 shares during the last quarter. Values First Advisors Inc. acquired a new stake in Cytokinetics during the 3rd quarter worth about $54,000. Quarry LP lifted its holdings in shares of Cytokinetics by 233.3% in the second quarter. Quarry LP now owns 2,000 shares of the biopharmaceutical company’s stock valued at $108,000 after purchasing an additional 1,400 shares in the last quarter. Finally, Avior Wealth Management LLC increased its stake in Cytokinetics by 57.1% in the 3rd quarter. Avior Wealth Management LLC now owns 3,999 shares of the biopharmaceutical company’s stock valued at $211,000 after buying an additional 1,454 shares during the period.

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.