Cytokinetics’ (CYTK) “Buy” Rating Reiterated at HC Wainwright

Cytokinetics (NASDAQ:CYTK)‘s stock had its “buy” rating restated by research analysts at HC Wainwright in a research note issued on Tuesday,Benzinga reports. They currently have a $120.00 price target on the biopharmaceutical company’s stock. HC Wainwright’s price target would indicate a potential upside of 163.08% from the company’s previous close.

Several other brokerages also recently commented on CYTK. Cantor Fitzgerald reiterated an “overweight” rating on shares of Cytokinetics in a report on Friday, October 18th. Royal Bank of Canada boosted their target price on Cytokinetics from $80.00 to $82.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 18th. JMP Securities reaffirmed a “market outperform” rating and issued a $78.00 target price on shares of Cytokinetics in a report on Tuesday, January 14th. Needham & Company LLC reiterated a “buy” rating and set a $72.00 price target on shares of Cytokinetics in a report on Monday, December 2nd. Finally, Mizuho upped their price objective on Cytokinetics from $99.00 to $103.00 and gave the company an “outperform” rating in a research note on Thursday, November 21st. Three analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat.com, Cytokinetics presently has a consensus rating of “Moderate Buy” and a consensus price target of $83.64.

Cytokinetics Stock Down 0.3 %

Shares of CYTK traded down $0.13 on Tuesday, reaching $45.61. The company’s stock had a trading volume of 464,968 shares, compared to its average volume of 1,050,459. The stock has a market capitalization of $5.38 billion, a PE ratio of -8.50 and a beta of 0.82. 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 has a twelve month low of $44.49 and a twelve month high of $84.92. The firm has a fifty day moving average of $49.33 and a 200-day moving average of $53.14.

Cytokinetics (NASDAQ:CYTK) last issued its quarterly earnings data on Wednesday, November 6th. The biopharmaceutical company reported ($1.36) 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 analysts’ expectations of $1.21 million. During the same period in the previous year, the business posted ($1.35) earnings per share. The firm’s revenue was up 22.5% on a year-over-year basis. Equities analysts predict that Cytokinetics will post -5.23 EPS for the current year.

Insider Activity at Cytokinetics

In other Cytokinetics news, EVP Fady Ibraham Malik sold 7,300 shares of Cytokinetics stock in a transaction dated Wednesday, October 30th. The stock was sold at an average price of $51.91, for a total transaction of $378,943.00. Following the completion of the transaction, the executive vice president now owns 114,920 shares of the company’s stock, valued at $5,965,497.20. The trade was a 5.97 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Wendall Wierenga sold 4,452 shares of the company’s stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $52.25, for a total value of $232,617.00. Following the sale, the director now owns 24,559 shares in the company, valued at approximately $1,283,207.75. This represents a 15.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 52,216 shares of company stock worth $2,707,436. Corporate insiders own 3.40% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Van ECK Associates Corp grew its stake in Cytokinetics by 21.3% in the 3rd quarter. Van ECK Associates Corp now owns 71,691 shares of the biopharmaceutical company’s stock worth $3,802,000 after buying an additional 12,565 shares in the last quarter. Westfield Capital Management Co. LP grew its position in Cytokinetics by 38.9% in the third quarter. Westfield Capital Management Co. LP now owns 1,212,886 shares of the biopharmaceutical company’s stock worth $64,040,000 after acquiring an additional 339,373 shares in the last quarter. Ghisallo Capital Management LLC bought a new position in Cytokinetics in the second quarter valued at $10,619,000. Darwin Global Management Ltd. purchased a new stake in Cytokinetics during the second quarter valued at about $246,074,000. Finally, Charles Schwab Investment Management Inc. lifted its stake in Cytokinetics by 42.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,321,391 shares of the biopharmaceutical company’s stock worth $69,769,000 after purchasing an additional 395,709 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.