Cytokinetics, Incorporated (NASDAQ:CYTK) Receives Average Rating of “Moderate Buy” from Brokerages

Cytokinetics, Incorporated (NASDAQ:CYTK) has been given an average recommendation of “Moderate Buy” by the sixteen research firms that are covering the firm, MarketBeat Ratings reports. Four research analysts have rated the stock with a hold recommendation and twelve have assigned a buy recommendation to the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $83.93.

A number of equities research analysts have recently weighed in on CYTK shares. JPMorgan Chase & Co. boosted their price target on Cytokinetics from $65.00 to $71.00 and gave the company an “overweight” rating in a report on Thursday, September 5th. JMP Securities reissued a “market outperform” rating and set a $78.00 target price on shares of Cytokinetics in a report on Wednesday, September 4th. Royal Bank of Canada initiated coverage on shares of Cytokinetics in a research report on Friday, November 8th. They issued an “outperform” rating and a $80.00 price target on the stock. Needham & Company LLC reaffirmed a “buy” rating and set a $72.00 price objective on shares of Cytokinetics in a research report on Monday, December 2nd. Finally, The Goldman Sachs Group cut shares of 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 report on Tuesday, August 13th.

Insiders Place Their Bets

In other news, EVP Fady Ibraham Malik sold 7,300 shares of the stock in a transaction on Tuesday, November 26th. The shares were sold at an average price of $50.16, for a total transaction of $366,168.00. Following the transaction, the executive vice president now owns 111,878 shares in the company, valued at $5,611,800.48. This represents a 6.13 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Robert I. Blum sold 5,000 shares of the firm’s stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $50.76, for a total transaction of $253,800.00. Following the transaction, the chief executive officer now owns 397,678 shares in the company, valued at $20,186,135.28. This represents a 1.24 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 64,994 shares of company stock worth $3,427,975 in the last quarter. 3.40% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Cytokinetics

A number of large investors have recently added to or reduced their stakes in CYTK. Cetera Advisors LLC acquired a new stake in shares of Cytokinetics in the first quarter valued at about $531,000. Securian Asset Management Inc. increased its position in Cytokinetics by 13.4% in the 2nd quarter. Securian Asset Management Inc. now owns 9,144 shares of the biopharmaceutical company’s stock worth $495,000 after buying an additional 1,081 shares during the period. Oak Ridge Investments LLC acquired a new position in shares of Cytokinetics during the second quarter worth approximately $1,002,000. J.Safra Asset Management Corp boosted its position in shares of Cytokinetics by 642.3% in the second 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. Finally, Louisiana State Employees Retirement System grew its stake in shares of Cytokinetics by 14.9% in the second quarter. Louisiana State Employees Retirement System now owns 32,400 shares of the biopharmaceutical company’s stock worth $1,755,000 after acquiring an additional 4,200 shares during the last quarter.

Cytokinetics Trading Up 1.1 %

NASDAQ CYTK opened at $50.96 on Friday. The company has a debt-to-equity ratio of 5.93, a quick ratio of 9.28 and a current ratio of 9.28. Cytokinetics has a one year low of $32.70 and a one year high of $110.25. The company’s 50 day moving average price is $53.04 and its 200 day moving average price is $54.06. The firm has a market capitalization of $6.01 billion, a price-to-earnings ratio of -9.47 and a beta of 0.80.

Cytokinetics (NASDAQ:CYTK) last posted its quarterly earnings data 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 firm had revenue of $0.46 million for the quarter, compared to the consensus estimate of $1.21 million. During the same quarter in the prior year, the company earned ($1.35) EPS. The firm’s revenue for the quarter was up 22.5% on a year-over-year basis. On average, sell-side analysts predict that Cytokinetics will post -5.25 EPS for the current year.

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.