Cytokinetics, Incorporated (NASDAQ:CYTK) Receives Average Rating of “Moderate Buy” from Analysts

Cytokinetics, Incorporated (NASDAQ:CYTK) has been assigned an average rating of “Moderate Buy” from the fifteen research firms that are covering the stock, Marketbeat reports. Four research analysts have rated the stock with a hold recommendation and eleven have given a buy recommendation to the company. The average 1-year target price among brokers that have covered the stock in the last year is $83.93.

CYTK has been the topic of several recent analyst reports. JMP Securities reaffirmed a “market outperform” rating and set a $78.00 price objective on shares of Cytokinetics in a report on Wednesday, September 4th. Needham & Company LLC reiterated a “buy” rating and set a $72.00 price objective on shares of Cytokinetics in a research note on Thursday, October 17th. The Goldman Sachs Group downgraded Cytokinetics from a “buy” rating to a “neutral” rating and decreased their target price for the company from $85.00 to $60.00 in a research report on Tuesday, August 13th. Cantor Fitzgerald reiterated an “overweight” rating on shares of Cytokinetics in a research report on Friday, October 18th. Finally, HC Wainwright restated a “buy” rating and issued a $120.00 price objective on shares of Cytokinetics in a report on Thursday, October 17th.

Cytokinetics Price Performance

Shares of Cytokinetics stock opened at $51.32 on Friday. The firm has a market cap of $5.38 billion, a PE ratio of -9.50 and a beta of 0.77. The business has a 50-day moving average price of $54.80 and a 200 day moving average price of $56.81. The company has a quick ratio of 10.39, a current ratio of 10.39 and a debt-to-equity ratio of 5.93. Cytokinetics has a twelve month low of $30.37 and a twelve month high of $110.25.

Cytokinetics (NASDAQ:CYTK) last announced its earnings results on Thursday, August 8th. The biopharmaceutical company reported ($1.31) earnings per share for the quarter, missing the consensus estimate 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. During the same period last year, the firm posted ($1.34) earnings per share. Cytokinetics’s revenue for the quarter was down 71.3% on a year-over-year basis. Sell-side analysts predict that Cytokinetics will post -5.15 earnings per share for the current fiscal year.

Insider Activity

In other news, CEO Robert I. Blum sold 11,500 shares of Cytokinetics stock in a transaction that occurred on Tuesday, July 30th. The shares were sold at an average price of $59.49, for a total transaction of $684,135.00. Following the sale, the chief executive officer now owns 399,412 shares of the company’s stock, valued at approximately $23,761,019.88. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, CEO Robert I. Blum sold 11,500 shares of the firm’s stock in a transaction dated 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 directly 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 can be accessed through this hyperlink. Also, Director B Lynne Parshall sold 5,000 shares of the company’s stock in a transaction dated Monday, July 29th. The shares were sold at an average price of $59.84, for a total transaction of $299,200.00. Following the completion of the transaction, the director now directly owns 20,600 shares in the company, valued at $1,232,704. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 77,284 shares of company stock valued at $4,306,652 in the last 90 days. Company insiders own 3.40% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the company. J.Safra Asset Management Corp grew its stake in shares of 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 buying an additional 456 shares in the last quarter. UMB Bank n.a. grew its position in Cytokinetics by 65.6% in the 3rd quarter. UMB Bank n.a. now owns 601 shares of the biopharmaceutical company’s stock valued at $32,000 after acquiring an additional 238 shares in the last quarter. Blue Trust Inc. increased its stake in Cytokinetics by 225.9% during the third quarter. Blue Trust Inc. now owns 981 shares of the biopharmaceutical company’s stock worth $53,000 after purchasing an additional 680 shares during the period. Values First Advisors Inc. acquired a new stake in shares of Cytokinetics during the third quarter worth about $54,000. Finally, EntryPoint Capital LLC purchased a new position in shares of Cytokinetics in the first quarter valued at approximately $74,000.

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.