Analysts’ Weekly Ratings Changes for Cytokinetics (CYTK)

Posted by Dante Gardener on Nov 25th, 2024

Cytokinetics (NASDAQ: CYTK) recently received a number of ratings updates from brokerages and research firms:

11/21/2024 – Cytokinetics had its price target raised by analysts at Mizuho from $99.00 to $103.00. They now have an “outperform” rating on the stock.
11/20/2024 – Cytokinetics had its “buy” rating reaffirmed by analysts at Needham & Company LLC. They now have a $72.00 price target on the stock.
11/18/2024 – Cytokinetics had its “buy” rating reaffirmed by analysts at HC Wainwright. They now have a $120.00 price target on the stock.
11/8/2024 – Cytokinetics is now covered by analysts at Royal Bank of Canada. They set an “outperform” rating and a $80.00 price target on the stock.
11/7/2024 – Cytokinetics had its “buy” rating reaffirmed by analysts at HC Wainwright. They now have a $120.00 price target on the stock.
10/18/2024 – Cytokinetics had its “overweight” rating reaffirmed by analysts at Cantor Fitzgerald.
10/17/2024 – Cytokinetics had its “buy” rating reaffirmed by analysts at Needham & Company LLC. They now have a $72.00 price target on the stock.
10/17/2024 – Cytokinetics had its “buy” rating reaffirmed by analysts at HC Wainwright. They now have a $120.00 price target on the stock.
10/9/2024 – Cytokinetics had its price target raised by analysts at HC Wainwright from $90.00 to $120.00. They now have a “buy” rating on the stock.
9/30/2024 – Cytokinetics had its “buy” rating reaffirmed by analysts at HC Wainwright. They now have a $90.00 price target on the stock.

Cytokinetics Trading Up 3.2 %

Shares of NASDAQ:CYTK traded up $1.56 during midday trading on Monday, hitting $50.66. The company had a trading volume of 639,066 shares, compared to its average volume of 2,048,026. The company has a current ratio of 9.28, a quick ratio of 9.28 and a debt-to-equity ratio of 5.93. Cytokinetics, Incorporated has a 12 month low of $30.68 and a 12 month high of $110.25. The firm has a fifty day simple moving average of $53.60 and a 200 day simple moving average of $54.66. The stock has a market cap of $5.98 billion, a price-to-earnings ratio of -9.42 and a beta of 0.78.

Cytokinetics (NASDAQ:CYTK – Get Free Report) last posted its earnings results 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 the consensus estimate of $1.21 million. The company’s revenue for the quarter was up 22.5% on a year-over-year basis. During the same period in the prior year, the firm earned ($1.35) EPS. On average, analysts predict that Cytokinetics, Incorporated will post -5.25 EPS for the current year.

Insider Buying and Selling at Cytokinetics

In other Cytokinetics news, CEO Robert I. Blum sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $50.55, for a total value of $252,750.00. Following the sale, the chief executive officer now owns 397,456 shares in the company, valued at approximately $20,091,400.80. The trade was a 1.24 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Fady Ibraham Malik sold 7,384 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $57.01, for a total value of $420,961.84. Following the transaction, the executive vice president now directly owns 122,920 shares of the company’s stock, valued at approximately $7,007,669.20. This trade represents a 5.67 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 65,078 shares of company stock valued at $3,514,119. Corporate insiders own 3.40% of the company’s stock.

Institutional Trading of Cytokinetics

A number of institutional investors have recently made changes to their positions in CYTK. J.Safra Asset Management Corp increased its stake in Cytokinetics by 642.3% in the 2nd quarter. J.Safra Asset Management Corp now owns 527 shares of the biopharmaceutical company’s stock valued at $29,000 after buying an additional 456 shares during the last quarter. UMB Bank n.a. raised its position 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 acquiring an additional 238 shares in the last quarter. Blue Trust Inc. lifted its stake in Cytokinetics by 225.9% in the third quarter. Blue Trust Inc. now owns 981 shares of the biopharmaceutical company’s stock valued at $53,000 after acquiring an additional 680 shares during the last quarter. Values First Advisors Inc. bought a new position in shares of Cytokinetics in the 3rd quarter valued at about $54,000. Finally, Bessemer Group Inc. raised its holdings in shares of Cytokinetics by 25,100.0% in the 1st quarter. Bessemer Group Inc. now owns 1,260 shares of the biopharmaceutical company’s stock valued at $88,000 after purchasing an additional 1,255 shares during the period.

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.