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

Shares of Cytokinetics, Incorporated (NASDAQ:CYTK) have been assigned an average rating of “Moderate Buy” from the eighteen brokerages that are presently covering the stock, MarketBeat Ratings reports. Two investment analysts have rated the stock with a hold recommendation, fifteen have given a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price target among analysts that have covered the stock in the last year is $82.00.

Several equities analysts recently weighed in on CYTK shares. Morgan Stanley raised Cytokinetics from an “equal weight” rating to an “overweight” rating and dropped their price objective for the company from $70.00 to $67.00 in a research note on Thursday, February 13th. Needham & Company LLC restated a “buy” rating and issued a $72.00 price target on shares of Cytokinetics in a research report on Thursday, February 6th. HC Wainwright reiterated a “buy” rating and issued a $120.00 price objective on shares of Cytokinetics in a research report on Tuesday, January 21st. JMP Securities reissued a “market outperform” rating and issued a $78.00 price objective on shares of Cytokinetics in a research note on Friday, February 7th. Finally, Citigroup started coverage on shares of Cytokinetics in a research report on Friday, February 7th. They set a “buy” rating and a $86.00 target price for the company.

Insider Activity

In related news, EVP Fady Ibraham Malik sold 2,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $45.98, for a total value of $91,960.00. Following the sale, the executive vice president now directly owns 116,071 shares of the company’s stock, valued at approximately $5,336,944.58. This trade represents a 1.69 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Wendall Wierenga sold 742 shares of the business’s 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 completion of the sale, the director now owns 24,559 shares of the company’s stock, valued at approximately $1,193,812.99. The trade was a 2.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 30,122 shares of company stock valued at $1,494,016 over the last quarter. Company insiders own 3.40% of the company’s stock.

Institutional Trading of Cytokinetics

A number of institutional investors and hedge funds have recently made changes to their positions in CYTK. Jones Financial Companies Lllp raised its holdings in shares of Cytokinetics by 189.8% in the 4th quarter. Jones Financial Companies Lllp now owns 571 shares of the biopharmaceutical company’s stock worth $27,000 after purchasing an additional 374 shares during the period. Centricity Wealth Management LLC purchased a new position in Cytokinetics in the fourth quarter valued at approximately $29,000. Blue Trust Inc. lifted its position 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 buying an additional 680 shares in the last quarter. Values First Advisors Inc. purchased a new stake in Cytokinetics during the third quarter worth approximately $54,000. Finally, AlphaQuest LLC grew its stake in Cytokinetics by 113,500.0% during the fourth quarter. AlphaQuest LLC now owns 1,136 shares of the biopharmaceutical company’s stock worth $53,000 after buying an additional 1,135 shares during the period.

Cytokinetics Trading Up 10.2 %

NASDAQ:CYTK opened at $51.12 on Friday. Cytokinetics has a 1 year low of $40.53 and a 1 year high of $81.36. 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 fifty day moving average price of $47.26 and a two-hundred day moving average price of $51.55. The stock has a market capitalization of $6.03 billion, a price-to-earnings ratio of -9.50 and a beta of 0.83.

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.