Cytokinetics (NASDAQ:CYTK) Receives “Buy” Rating from HC Wainwright

HC Wainwright restated their buy rating on shares of Cytokinetics (NASDAQ:CYTK) in a research note published on Tuesday morning,Benzinga reports. They currently have a $120.00 price objective on the biopharmaceutical company’s stock.

Other analysts also recently issued reports about the stock. Needham & Company LLC reaffirmed a “buy” rating and issued a $72.00 price objective on shares of Cytokinetics in a report on Monday, December 2nd. JMP Securities reaffirmed a “market outperform” rating and set a $78.00 price target on shares of Cytokinetics in a research report on Tuesday, January 14th. Royal Bank of Canada boosted their price objective on Cytokinetics from $80.00 to $82.00 and gave the company an “outperform” rating in a report on Wednesday, December 18th. Mizuho raised their target price on Cytokinetics from $99.00 to $103.00 and gave the stock an “outperform” rating in a report on Thursday, November 21st. Finally, Cantor Fitzgerald reissued an “overweight” rating on shares of Cytokinetics in a report on Friday, October 18th. Three equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat, Cytokinetics has a consensus rating of “Moderate Buy” and a consensus target price of $83.64.

Cytokinetics Stock Performance

Shares of CYTK stock opened at $45.82 on Tuesday. The business has a fifty day moving average of $49.12 and a 200 day moving average of $53.08. Cytokinetics has a 1 year low of $44.49 and a 1 year high of $84.92. The company has a debt-to-equity ratio of 5.93, a current ratio of 9.28 and a quick ratio of 9.28. The firm has a market capitalization of $5.41 billion, a price-to-earnings ratio of -8.52 and a beta of 0.82.

Cytokinetics (NASDAQ:CYTK) last announced its quarterly earnings data on Wednesday, November 6th. The biopharmaceutical company reported ($1.36) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.27) by ($0.09). The firm had revenue of $0.46 million during the quarter, compared to analysts’ expectations of $1.21 million. The firm’s revenue was up 22.5% on a year-over-year basis. During the same period last year, the firm posted ($1.35) EPS. As a group, research analysts expect that Cytokinetics will post -5.23 earnings per share for the current year.

Insider Transactions at Cytokinetics

In other Cytokinetics news, Director Wendall Wierenga sold 742 shares of Cytokinetics stock in a transaction 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 sale, the director now owns 24,559 shares of the company’s stock, valued at $1,193,812.99. The trade was a 2.93 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Fady Ibraham Malik sold 2,000 shares of the stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $45.92, for a total transaction of $91,840.00. Following the completion of the sale, the executive vice president now owns 116,071 shares of the company’s stock, valued at $5,329,980.32. This trade represents a 1.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 54,216 shares of company stock valued at $2,799,276 over the last 90 days. Corporate insiders own 3.40% of the company’s stock.

Institutional Trading of Cytokinetics

Several large investors have recently bought and sold shares of the business. Louisiana State Employees Retirement System boosted its holdings in shares of Cytokinetics by 0.6% during the 3rd quarter. Louisiana State Employees Retirement System now owns 32,600 shares of the biopharmaceutical company’s stock worth $1,721,000 after purchasing an additional 200 shares during the last quarter. UMB Bank n.a. boosted its stake in Cytokinetics by 65.6% during the third quarter. UMB Bank n.a. now owns 601 shares of the biopharmaceutical company’s stock worth $32,000 after buying an additional 238 shares during the last quarter. Nisa Investment Advisors LLC boosted its stake in Cytokinetics by 2.9% during the third quarter. Nisa Investment Advisors LLC now owns 15,062 shares of the biopharmaceutical company’s stock worth $795,000 after buying an additional 430 shares during the last quarter. MetLife Investment Management LLC increased its stake in shares of Cytokinetics by 0.4% in the 3rd quarter. MetLife Investment Management LLC now owns 123,308 shares of the biopharmaceutical company’s stock worth $6,511,000 after acquiring an additional 538 shares during the last quarter. Finally, Inspire Investing LLC raised its holdings in shares of Cytokinetics by 7.8% during the 4th quarter. Inspire Investing LLC now owns 8,504 shares of the biopharmaceutical company’s stock worth $400,000 after acquiring an additional 616 shares during the period.

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.