HC Wainwright Reaffirms Buy Rating for Cytokinetics (NASDAQ:CYTK)

HC Wainwright reiterated their buy rating on shares of Cytokinetics (NASDAQ:CYTK) in a research report sent to investors on Thursday, MarketBeat.com reports. HC Wainwright currently has a $120.00 price objective on the biopharmaceutical company’s stock.

A number of other equities analysts also recently commented on CYTK. The Goldman Sachs Group downgraded shares of Cytokinetics from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $85.00 to $60.00 in a report on Tuesday, August 13th. JMP Securities restated a “market outperform” rating and set a $78.00 target price on shares of Cytokinetics in a research report on Wednesday, September 4th. JPMorgan Chase & Co. upped their price target on Cytokinetics from $65.00 to $71.00 and gave the company an “overweight” rating in a research report on Thursday, September 5th. Cantor Fitzgerald restated an “overweight” rating on shares of Cytokinetics in a research note on Monday, September 9th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $72.00 target price on shares of Cytokinetics in a research report on Tuesday, September 3rd. One analyst has rated the stock with a sell rating, four have assigned a hold rating and eleven have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $83.93.

Cytokinetics Trading Up 0.8 %

Shares of CYTK opened at $54.97 on Thursday. The stock’s 50-day moving average price is $55.12 and its 200 day moving average price is $57.36. 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 firm has a market capitalization of $5.76 billion, a price-to-earnings ratio of -10.18 and a beta of 0.77. Cytokinetics has a 12-month low of $30.37 and a 12-month high of $110.25.

Cytokinetics (NASDAQ:CYTK) last released its quarterly earnings data on Thursday, August 8th. The biopharmaceutical company reported ($1.31) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.06) by ($0.25). The firm had revenue of $0.25 million during the quarter, compared to analyst estimates of $7.61 million. The company’s revenue for the quarter was down 71.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($1.34) EPS. As a group, research analysts predict that Cytokinetics will post -5.15 earnings per share for the current year.

Insider Buying and Selling at Cytokinetics

In other news, CEO Robert I. Blum sold 11,500 shares of the business’s stock in a transaction on Tuesday, July 30th. The stock was sold at an average price of $59.49, for a total transaction of $684,135.00. Following the completion of the sale, the chief executive officer now owns 399,412 shares in the company, valued at $23,761,019.88. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other news, CEO Robert I. Blum sold 11,500 shares of the firm’s stock in a transaction dated Tuesday, July 30th. The shares were sold at an average price of $59.49, for a total value of $684,135.00. Following the transaction, the chief executive officer now owns 399,412 shares of the company’s stock, valued at approximately $23,761,019.88. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director B Lynne Parshall sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, July 29th. The stock was sold at an average price of $59.84, for a total transaction of $299,200.00. Following the sale, the director now directly owns 20,600 shares of the company’s stock, valued at approximately $1,232,704. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 84,584 shares of company stock worth $4,722,898. Insiders own 3.40% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. J.Safra Asset Management Corp increased its holdings in Cytokinetics by 642.3% in the second quarter. J.Safra Asset Management Corp now owns 527 shares of the biopharmaceutical company’s stock valued at $29,000 after purchasing an additional 456 shares during the last quarter. UMB Bank n.a. boosted its holdings 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. Blue Trust Inc. grew its position in shares of Cytokinetics by 225.9% during the 3rd quarter. Blue Trust Inc. now owns 981 shares of the biopharmaceutical company’s stock worth $53,000 after buying an additional 680 shares during the period. EntryPoint Capital LLC bought a new stake in shares of Cytokinetics in the 1st quarter valued at about $74,000. Finally, Bessemer Group Inc. raised its position 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 acquiring an additional 1,255 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.