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

Cytokinetics, Incorporated (NASDAQ:CYTK) has been given a consensus recommendation of “Moderate Buy” by the sixteen brokerages that are covering the firm, Marketbeat reports. Four investment 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 $84.07.

A number of equities research analysts have recently commented on CYTK shares. HC Wainwright reaffirmed a “buy” rating and set a $120.00 price target on shares of Cytokinetics in a research report on Friday, December 20th. Cantor Fitzgerald reiterated an “overweight” rating on shares of Cytokinetics in a report on Friday, October 18th. JMP Securities restated a “market outperform” rating and set a $78.00 price objective on shares of Cytokinetics in a report on Wednesday, September 4th. JPMorgan Chase & Co. upped their target price on shares of Cytokinetics from $65.00 to $71.00 and gave the stock an “overweight” rating in a research note on Thursday, September 5th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $72.00 price target on shares of Cytokinetics in a research note on Monday, December 2nd.

Cytokinetics Stock Performance

CYTK stock opened at $47.04 on Thursday. The company has a quick ratio of 9.28, a current ratio of 9.28 and a debt-to-equity ratio of 5.93. Cytokinetics has a twelve month low of $45.66 and a twelve month high of $110.25. The business’s fifty day moving average is $50.91 and its 200-day moving average is $53.70. The company has a market cap of $5.55 billion, a P/E ratio of -8.74 and a beta of 0.80.

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

Insider Buying and Selling at Cytokinetics

In other news, EVP Fady Ibraham Malik sold 7,300 shares of the company’s stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $54.19, for a total value of $395,587.00. Following the transaction, the executive vice president now owns 116,920 shares of the company’s stock, valued at approximately $6,335,894.80. This represents a 5.88 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Robert I. Blum sold 5,000 shares of the business’s stock in a transaction on Wednesday, October 9th. The shares were sold at an average price of $55.61, for a total value of $278,050.00. Following the completion of the sale, the chief executive officer now owns 397,456 shares of the company’s stock, valued at $22,102,528.16. This trade represents a 1.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 62,516 shares of company stock worth $3,282,433 over the last 90 days. Company insiders own 3.40% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in CYTK. Darwin Global Management Ltd. acquired a new stake in Cytokinetics during the second quarter worth approximately $246,074,000. Integral Health Asset Management LLC raised its stake in Cytokinetics by 122.2% in the second quarter. Integral Health Asset Management LLC now owns 1,000,000 shares of the biopharmaceutical company’s stock valued at $54,180,000 after purchasing an additional 550,000 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in 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 worth $69,769,000 after purchasing an additional 395,709 shares during the period. Westfield Capital Management Co. LP grew its stake in Cytokinetics by 38.9% during the third quarter. Westfield Capital Management Co. LP now owns 1,212,886 shares of the biopharmaceutical company’s stock worth $64,040,000 after buying an additional 339,373 shares in the last quarter. Finally, Checkpoint Capital L.P. increased its holdings in Cytokinetics by 145.7% in the 3rd quarter. Checkpoint Capital L.P. now owns 466,813 shares of the biopharmaceutical company’s stock valued at $24,648,000 after buying an additional 276,813 shares during the period.

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.