Cytokinetics’ (CYTK) “Buy” Rating Reiterated at HC Wainwright

HC Wainwright restated their buy rating on shares of Cytokinetics (NASDAQ:CYTK) in a research report released on Friday morning,Benzinga reports. The brokerage currently has a $120.00 price objective on the biopharmaceutical company’s stock.

Other equities research analysts have also issued reports about the company. JMP Securities reaffirmed a “market outperform” rating and issued a $78.00 price objective on shares of Cytokinetics in a research note on Wednesday, September 4th. Needham & Company LLC reaffirmed a “buy” rating and set a $72.00 price objective on shares of Cytokinetics in a research note on Monday, December 2nd. JPMorgan Chase & Co. increased 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. Royal Bank of Canada raised their target price on shares of Cytokinetics from $80.00 to $82.00 and gave the stock an “outperform” rating in a report on Wednesday, December 18th. Finally, Mizuho upped their price target on shares of Cytokinetics from $99.00 to $103.00 and gave the company an “outperform” rating in a report on Thursday, November 21st. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $84.07.

Cytokinetics Trading Up 4.6 %

Shares of CYTK opened at $48.87 on Friday. Cytokinetics has a fifty-two week low of $36.24 and a fifty-two week high of $110.25. 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 company’s fifty day moving average is $51.97 and its 200 day moving average is $54.01. The stock has a market capitalization of $5.77 billion, a PE ratio of -9.08 and a beta of 0.80.

Cytokinetics (NASDAQ:CYTK) last posted its earnings results on Wednesday, November 6th. The biopharmaceutical company reported ($1.36) earnings per share 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 analysts’ expectations of $1.21 million. During the same quarter in the previous year, the business posted ($1.35) EPS. The firm’s revenue was up 22.5% on a year-over-year basis. Sell-side analysts expect that Cytokinetics will post -5.25 earnings per share for the current fiscal year.

Insider Activity

In other Cytokinetics news, CEO Robert I. Blum sold 5,000 shares of the stock in a transaction dated Monday, September 30th. The shares were sold at an average price of $52.14, for a total transaction of $260,700.00. Following the transaction, the chief executive officer now directly owns 397,456 shares in the company, valued at $20,723,355.84. This represents a 1.24 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Fady Ibraham Malik sold 7,300 shares of the business’s stock in a transaction dated 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 sale, the executive vice president now owns 118,920 shares of the company’s stock, valued at approximately $6,195,732. This represents a 5.78 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 74,816 shares of company stock worth $3,923,463. Company insiders own 3.40% of the company’s stock.

Institutional Trading of Cytokinetics

A number of hedge funds have recently bought and sold shares of CYTK. Darwin Global Management Ltd. bought a new position in shares of Cytokinetics in the 2nd quarter worth $246,074,000. Geode Capital Management LLC raised its holdings 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 worth $150,433,000 after purchasing an additional 109,938 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of Cytokinetics by 42.7% during 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 buying an additional 395,709 shares during the last quarter. Westfield Capital Management Co. LP boosted its holdings in shares of Cytokinetics by 38.9% in the 3rd quarter. Westfield Capital Management Co. LP now owns 1,212,886 shares of the biopharmaceutical company’s stock valued at $64,040,000 after buying an additional 339,373 shares in the last quarter. Finally, Janus Henderson Group PLC grew its position 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 worth $60,399,000 after buying an additional 167,501 shares during the last quarter.

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.