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

Shares of Cytokinetics, Incorporated (NASDAQ:CYTK) have been given a consensus rating of “Moderate Buy” by the fifteen research firms that are covering the stock, MarketBeat.com reports. Four research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $80.27.

A number of brokerages have issued reports on CYTK. Needham & Company LLC reissued a “buy” rating and issued a $72.00 target price on shares of Cytokinetics in a report on Tuesday. Barclays reduced their price objective on Cytokinetics from $100.00 to $95.00 and set an “overweight” rating for the company in a research report on Thursday, May 23rd. Oppenheimer dropped their target price on Cytokinetics from $107.00 to $106.00 and set an “outperform” rating on the stock in a research report on Thursday, May 9th. JMP Securities reduced their price target on shares of Cytokinetics from $106.00 to $78.00 and set a “market outperform” rating for the company in a report on Tuesday, May 28th. Finally, JPMorgan Chase & Co. dropped their price objective on shares of Cytokinetics from $77.00 to $65.00 and set an “overweight” rating on the stock in a report on Monday, June 24th.

Insider Activity

In related news, Director Muna Bhanji sold 2,000 shares of Cytokinetics stock in a transaction dated Monday, June 10th. The stock was sold at an average price of $52.07, for a total transaction of $104,140.00. Following the transaction, the director now directly owns 17,631 shares of the company’s stock, valued at $918,046.17. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In other news, Director B Lynne Parshall sold 5,000 shares of the stock in a transaction on Monday, June 17th. The stock was sold at an average price of $52.55, for a total transaction of $262,750.00. Following the completion of the sale, the director now owns 20,600 shares in the company, valued at approximately $1,082,530. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Muna Bhanji sold 2,000 shares of Cytokinetics stock in a transaction on Monday, June 10th. The stock was sold at an average price of $52.07, for a total value of $104,140.00. Following the completion of the transaction, the director now owns 17,631 shares in the company, valued at $918,046.17. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 145,125 shares of company stock worth $7,981,849. 3.40% of the stock is owned by company insiders.

Hedge Funds Weigh In On Cytokinetics

Hedge funds and other institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. boosted its stake in Cytokinetics by 2.5% in the 4th quarter. Vanguard Group Inc. now owns 11,016,889 shares of the biopharmaceutical company’s stock worth $919,800,000 after purchasing an additional 273,565 shares during the period. Darwin Global Management Ltd. acquired a new stake in shares of Cytokinetics in the second quarter worth $246,074,000. Integral Health Asset Management LLC grew its holdings in shares of Cytokinetics by 122.2% during 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 buying an additional 550,000 shares in the last quarter. First Turn Management LLC acquired a new position in Cytokinetics during the fourth quarter valued at $67,414,000. Finally, Charles Schwab Investment Management Inc. lifted its stake in Cytokinetics by 4.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 789,969 shares of the biopharmaceutical company’s stock worth $65,955,000 after acquiring an additional 33,257 shares in the last quarter.

Cytokinetics Trading Down 4.4 %

NASDAQ:CYTK opened at $54.56 on Friday. Cytokinetics has a 52 week low of $25.98 and a 52 week high of $110.25. The company has a quick ratio of 10.39, a current ratio of 10.39 and a debt-to-equity ratio of 5.93. The company has a market cap of $6.42 billion, a PE ratio of -10.10 and a beta of 0.75. The business’s 50 day moving average is $56.13 and its two-hundred day moving average is $60.93.

Cytokinetics (NASDAQ:CYTK) last released its earnings results on Thursday, August 8th. The biopharmaceutical company reported ($1.31) earnings per share for the quarter, missing the consensus estimate of ($1.06) by ($0.25). The business had revenue of $0.25 million for the quarter, compared to analysts’ expectations of $7.61 million. During the same period last year, the firm posted ($1.34) EPS. Cytokinetics’s revenue was down 71.3% compared to the same quarter last year. On average, analysts predict that Cytokinetics will post -5.1 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.