Cytokinetics (NASDAQ:CYTK) Earns “Market Outperform” Rating from JMP Securities

Cytokinetics (NASDAQ:CYTK)‘s stock had its “market outperform” rating restated by research analysts at JMP Securities in a note issued to investors on Tuesday,Benzinga reports. They currently have a $78.00 target price on the biopharmaceutical company’s stock. JMP Securities’ price objective would indicate a potential upside of 66.42% from the company’s previous close.

Other equities research analysts also recently issued research reports about the stock. HC Wainwright restated a “buy” rating and issued a $120.00 price objective on shares of Cytokinetics in a research report on Friday, January 10th. Cantor Fitzgerald reissued an “overweight” rating on shares of Cytokinetics in a report on Friday, October 18th. Needham & Company LLC reaffirmed a “buy” rating and set a $72.00 price objective on shares of Cytokinetics in a report on Monday, December 2nd. Mizuho raised their target price on Cytokinetics from $99.00 to $103.00 and gave the company an “outperform” rating in a report on Thursday, November 21st. Finally, Royal Bank of Canada boosted their target price on shares of Cytokinetics from $80.00 to $82.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 18th. Three investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $83.64.

Cytokinetics Trading Up 3.6 %

Shares of CYTK stock opened at $46.87 on Tuesday. Cytokinetics has a twelve month low of $44.49 and a twelve month high of $86.63. The company has a current ratio of 9.28, a quick ratio of 9.28 and a debt-to-equity ratio of 5.93. The business’s 50 day moving average is $50.18 and its two-hundred day moving average is $53.38. The company has a market capitalization of $5.53 billion, a P/E ratio of -8.71 and a beta of 0.82.

Cytokinetics (NASDAQ:CYTK) last announced its quarterly earnings data 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 business had revenue of $0.46 million for the quarter, compared to the consensus estimate of $1.21 million. During the same quarter in the prior year, the company earned ($1.35) earnings per share. The business’s revenue for the quarter was up 22.5% compared to the same quarter last year. Equities analysts forecast that Cytokinetics will post -5.25 EPS for the current year.

Insider Activity at Cytokinetics

In related news, 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 value of $36,068.62. Following the completion of the transaction, the director now owns 24,559 shares of the company’s stock, valued at approximately $1,193,812.99. The trade was a 2.93 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Fady Ibraham Malik sold 2,000 shares of the firm’s stock in a transaction dated Tuesday, January 7th. The stock was sold at an average price of $49.32, for a total transaction of $98,640.00. Following the sale, the executive vice president now directly owns 116,071 shares in the company, valued at $5,724,621.72. This represents a 1.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 52,216 shares of company stock valued at $2,707,436. 3.40% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Cytokinetics

Institutional investors and hedge funds have recently modified their holdings of the company. UMB Bank n.a. grew its stake in Cytokinetics by 65.6% in the 3rd quarter. UMB Bank n.a. now owns 601 shares of the biopharmaceutical company’s stock worth $32,000 after acquiring an additional 238 shares during the period. Blue Trust Inc. grew its position in shares of 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 purchasing an additional 680 shares during the period. Values First Advisors Inc. acquired a new position in Cytokinetics in the third quarter valued at $54,000. Quarry LP lifted its position in Cytokinetics by 233.3% during the second quarter. Quarry LP now owns 2,000 shares of the biopharmaceutical company’s stock worth $108,000 after buying an additional 1,400 shares during the period. Finally, Avior Wealth Management LLC boosted its stake in Cytokinetics by 57.1% in the 3rd quarter. Avior Wealth Management LLC now owns 3,999 shares of the biopharmaceutical company’s stock worth $211,000 after buying an additional 1,454 shares during the last quarter.

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.