Cytokinetics (NASDAQ:CYTK) PT Raised to $120.00 at HC Wainwright

Cytokinetics (NASDAQ:CYTK) had its price objective lifted by research analysts at HC Wainwright from $90.00 to $120.00 in a research report issued on Wednesday, Benzinga reports. The firm presently has a “buy” rating on the biopharmaceutical company’s stock. HC Wainwright’s price objective indicates a potential upside of 120.87% from the company’s previous close.

CYTK has been the subject of several other research reports. The Goldman Sachs Group lowered Cytokinetics from a “buy” rating to a “neutral” rating and cut their target price for the stock from $85.00 to $60.00 in a research note on Tuesday, August 13th. JMP Securities reissued a “market outperform” rating and set a $78.00 price objective on shares of Cytokinetics in a research note on Wednesday, September 4th. JPMorgan Chase & Co. upped their price target on shares of Cytokinetics from $65.00 to $71.00 and gave the company an “overweight” rating in a report on Thursday, September 5th. Needham & Company LLC reissued a “buy” rating and set a $72.00 price target on shares of Cytokinetics in a research report on Tuesday, September 3rd. Finally, Cantor Fitzgerald reiterated an “overweight” rating on shares of Cytokinetics in a report on Monday, September 9th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $82.67.

Cytokinetics Price Performance

Shares of NASDAQ CYTK opened at $54.33 on Wednesday. The firm has a market capitalization of $5.70 billion, a P/E ratio of -10.06 and a beta of 0.77. 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 stock’s 50-day simple moving average is $55.22 and its two-hundred day simple moving average is $58.17. Cytokinetics has a twelve month low of $30.10 and a twelve month high of $110.25.

Cytokinetics (NASDAQ:CYTK) last announced its earnings results on Thursday, August 8th. The biopharmaceutical company reported ($1.31) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.06) by ($0.25). The company had revenue of $0.25 million for the quarter, compared to analyst estimates of $7.61 million. During the same quarter in the prior year, the company earned ($1.34) earnings per share. Cytokinetics’s quarterly revenue was down 71.3% compared to the same quarter last year. As a group, equities analysts anticipate that Cytokinetics will post -5.15 EPS for the current fiscal year.

Insider Transactions at Cytokinetics

In other Cytokinetics news, Director B Lynne Parshall sold 5,000 shares of Cytokinetics stock in a transaction on Monday, July 15th. The stock was sold at an average price of $55.82, for a total transaction of $279,100.00. Following the completion of the transaction, the director now owns 20,600 shares in the company, valued at approximately $1,149,892. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Cytokinetics news, Director B Lynne Parshall sold 5,000 shares of Cytokinetics stock in a transaction dated Monday, July 15th. The shares were sold at an average price of $55.82, for a total value of $279,100.00. Following the completion of the transaction, the director now directly owns 20,600 shares of the company’s stock, valued at approximately $1,149,892. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Fady Ibraham Malik sold 7,300 shares of the company’s stock in a transaction that occurred on Tuesday, October 1st. The stock was 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 owns 118,920 shares in the company, valued at approximately $6,195,732. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 77,284 shares of company stock valued at $4,328,361 in the last ninety days. 3.40% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. J.Safra Asset Management Corp lifted its stake in Cytokinetics by 642.3% during the 2nd quarter. J.Safra Asset Management Corp now owns 527 shares of the biopharmaceutical company’s stock valued at $29,000 after acquiring an additional 456 shares during the period. EntryPoint Capital LLC bought a new position in Cytokinetics during the first quarter valued at approximately $74,000. Bessemer Group Inc. lifted its position in Cytokinetics by 25,100.0% during the first quarter. Bessemer Group Inc. now owns 1,260 shares of the biopharmaceutical company’s stock valued at $88,000 after purchasing an additional 1,255 shares during the period. Quarry LP boosted its holdings in Cytokinetics by 233.3% in 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 last quarter. Finally, nVerses Capital LLC bought a new stake in Cytokinetics in the 2nd 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.