Cytokinetics (NASDAQ:CYTK) Now Covered by Citigroup

Citigroup started coverage on shares of Cytokinetics (NASDAQ:CYTK) in a research report released on Friday morning, MarketBeat.com reports. The brokerage issued a buy rating and a $86.00 price objective on the biopharmaceutical company’s stock.

CYTK has been the subject of a number of other reports. Needham & Company LLC restated a “buy” rating and issued a $72.00 target price on shares of Cytokinetics in a report on Thursday. Royal Bank of Canada boosted their price objective on shares of Cytokinetics from $80.00 to $82.00 and gave the company an “outperform” rating in a research note on Wednesday, December 18th. HC Wainwright reiterated a “buy” rating and issued a $120.00 target price on shares of Cytokinetics in a report on Tuesday, January 21st. Mizuho upped their price target on Cytokinetics from $99.00 to $103.00 and gave the stock an “outperform” rating in a research note on Thursday, November 21st. Finally, Stifel Nicolaus began coverage on Cytokinetics in a report on Wednesday, January 22nd. They issued a “buy” rating and a $80.00 price objective on the stock. Two research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat.com, Cytokinetics currently has an average rating of “Moderate Buy” and an average target price of $83.00.

Cytokinetics Trading Down 7.4 %

Shares of Cytokinetics stock opened at $42.76 on Friday. Cytokinetics has a fifty-two week low of $42.72 and a fifty-two week high of $81.36. The business’s fifty day moving average is $48.32 and its two-hundred day moving average is $52.41. The company has a quick ratio of 9.28, a current ratio of 9.28 and a debt-to-equity ratio of 5.93. The firm has a market cap of $5.05 billion, a PE ratio of -7.95 and a beta of 0.83.

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 company had revenue of $0.46 million during the quarter, compared to analysts’ expectations of $1.21 million. During the same quarter in the previous year, the business earned ($1.35) EPS. The company’s revenue for the quarter was up 22.5% compared to the same quarter last year. Analysts anticipate that Cytokinetics will post -5.25 earnings per share for the current year.

Insider Buying and Selling at Cytokinetics

In other news, EVP Fady Ibraham Malik sold 6,342 shares of the firm’s stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $58.48, for a total transaction of $370,880.16. Following the completion of the sale, the executive vice president now owns 113,878 shares of the company’s stock, valued at approximately $6,659,585.44. This trade represents a 5.28 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director John T. Henderson sold 1,780 shares of the stock in a transaction on Wednesday, December 11th. The shares were sold at an average price of $50.42, for a total transaction of $89,747.60. Following the transaction, the director now owns 38,461 shares in the company, valued at $1,939,203.62. This trade represents a 4.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 39,464 shares of company stock valued at $2,025,686 in the last ninety days. Insiders own 3.40% of the company’s stock.

Institutional Trading of Cytokinetics

Hedge funds and other institutional investors have recently bought and sold shares of the company. Jones Financial Companies Lllp grew its position 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 acquiring an additional 374 shares in the last quarter. Centricity Wealth Management LLC acquired a new position in Cytokinetics in the fourth quarter worth $29,000. UMB Bank n.a. increased 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 valued at $32,000 after purchasing an additional 238 shares during the last quarter. Blue Trust Inc. raised its holdings in shares of Cytokinetics by 225.9% during the third quarter. Blue Trust Inc. now owns 981 shares of the biopharmaceutical company’s stock worth $53,000 after purchasing an additional 680 shares during the period. Finally, AlphaQuest LLC lifted its position in shares of Cytokinetics by 113,500.0% in the 4th 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 last quarter.

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.