Cytokinetics Price Target Cut to $15.00 by Analysts at Needham & Company LLC (CYTK)

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Stock analysts at Needham & Company LLC decreased their target price on shares of Cytokinetics (NASDAQ:CYTK) from $25.00 to $15.00 in a report issued on Monday, Analyst Ratings Network.com reports. The firm currently has a “buy” rating on the stock. Needham & Company LLC’s price objective would suggest a potential upside of 226.80% from the stock’s previous close.

Cytokinetics (NASDAQ:CYTK) opened at 4.59 on Monday. Cytokinetics has a one year low of $4.57 and a one year high of $14.28. The stock has a 50-day moving average of $9.66 and a 200-day moving average of $8.04. The company’s market cap is $165.6 million.

Cytokinetics (NASDAQ:CYTK) last announced its earnings results on Thursday, February 6th. The company reported $0.21 EPS for the quarter, beating the Thomson Reuters consensus estimate of ($0.08) by $0.29. The company had revenue of $24.30 million for the quarter, compared to the consensus estimate of $19.14 million. Analysts expect that Cytokinetics will post $-1.09 EPS for the current fiscal year.

CYTK has been the subject of a number of other recent research reports. Analysts at MLV & Co
downgraded shares of Cytokinetics from a “buy” rating to a “hold” rating in a research note on Friday. They now have a $5.00 price target on the stock, down previously from $26.00. Separately, analysts at Piper Jaffray downgraded shares of Cytokinetics from an “overweight” rating to a “neutral” rating in a research note on Friday. They now have a $7.00 price target on the stock, down previously from $18.00. Finally, analysts at Roth Capital initiated coverage on shares of Cytokinetics in a research note on Wednesday, March 5th. They set a “buy” rating and a $25.00 price target on the stock. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $13.00.

Cytokinetics, Incorporated (NASDAQ:CYTK) is a biopharmaceutical company focused on the discovery and development of small molecule therapeutics that modulate muscle function for the potential treatment of serious diseases and medical conditions.

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