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

Shares of Cytokinetics, Incorporated (NASDAQ:CYTK) have earned a consensus recommendation of “Moderate Buy” from the eighteen brokerages that are covering the firm, Marketbeat.com reports. Two equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $82.00.

CYTK has been the subject of a number of research reports. Mizuho lifted their price target on shares of Cytokinetics from $99.00 to $103.00 and gave the company an “outperform” rating in a research report on Thursday, November 21st. Stifel Nicolaus began coverage on shares of Cytokinetics in a research note on Wednesday, January 22nd. They issued a “buy” rating and a $80.00 target price for the company. Needham & Company LLC reaffirmed a “buy” rating and issued a $72.00 target price on shares of Cytokinetics in a research note on Thursday, February 6th. Morgan Stanley upgraded shares of Cytokinetics from an “equal weight” rating to an “overweight” rating and decreased their price target for the company from $70.00 to $67.00 in a report on Thursday, February 13th. Finally, Citigroup began coverage on shares of Cytokinetics in a report on Friday, February 7th. They issued a “buy” rating and a $86.00 price target on the stock.

Insider Transactions at Cytokinetics

In related news, EVP Fady Ibraham Malik sold 2,000 shares of the business’s stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $45.98, for a total transaction of $91,960.00. Following the completion of the sale, the executive vice president now owns 116,071 shares of the company’s stock, valued at $5,336,944.58. This represents a 1.69 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Wendall Wierenga sold 742 shares of the business’s stock in a transaction dated 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 directly owns 24,559 shares of the company’s stock, valued at approximately $1,193,812.99. This represents a 2.93 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 22,822 shares of company stock valued at $1,127,848. Insiders own 3.40% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of CYTK. Deep Track Capital LP lifted its stake in shares of Cytokinetics by 296.9% in the 4th quarter. Deep Track Capital LP now owns 2,500,000 shares of the biopharmaceutical company’s stock worth $117,600,000 after acquiring an additional 1,870,094 shares during the period. Capital International Investors acquired a new stake in shares of Cytokinetics in the 4th quarter worth approximately $51,564,000. T. Rowe Price Investment Management Inc. lifted its stake in shares of Cytokinetics by 11.0% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 10,752,123 shares of the biopharmaceutical company’s stock worth $505,780,000 after acquiring an additional 1,062,136 shares during the period. Norges Bank acquired a new stake in Cytokinetics during the fourth quarter valued at approximately $46,556,000. Finally, Vestal Point Capital LP lifted its stake in Cytokinetics by 56.7% during the fourth quarter. Vestal Point Capital LP now owns 2,350,000 shares of the biopharmaceutical company’s stock valued at $110,544,000 after purchasing an additional 850,000 shares during the last quarter.

Cytokinetics Price Performance

Shares of NASDAQ:CYTK opened at $46.65 on Friday. 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 company has a market cap of $5.51 billion, a P/E ratio of -8.67 and a beta of 0.83. Cytokinetics has a 52 week low of $40.53 and a 52 week high of $81.36. The company has a 50-day moving average price of $47.25 and a 200 day moving average price of $51.41.

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.