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

Cytokinetics, Incorporated (NASDAQ:CYTK) has earned an average recommendation of “Moderate Buy” from the eighteen analysts that are presently covering the company, Marketbeat reports. Two analysts have rated the stock with a hold recommendation, fifteen have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $82.00.

Several research analysts have issued reports on CYTK shares. HC Wainwright reiterated a “buy” rating and set a $120.00 price objective on shares of Cytokinetics in a research note on Friday, February 28th. Evercore ISI raised shares of Cytokinetics to a “strong-buy” rating in a report on Friday, February 7th. Stifel Nicolaus initiated coverage on shares of Cytokinetics in a research report on Wednesday, January 22nd. They issued a “buy” rating and a $80.00 price target on the stock. Needham & Company LLC reaffirmed a “buy” rating and set a $72.00 price objective on shares of Cytokinetics in a report on Thursday, February 6th. Finally, Morgan Stanley set a $67.00 target price on Cytokinetics in a report on Friday, March 7th.

Cytokinetics Stock Performance

CYTK stock opened at $46.57 on Tuesday. The firm has a 50 day moving average of $45.96 and a two-hundred day moving average of $49.82. Cytokinetics has a 12 month low of $40.53 and a 12 month high of $75.71. The company has a market capitalization of $5.51 billion, a price-to-earnings ratio of -8.66 and a beta of 0.95. The company has a quick ratio of 9.28, a current ratio of 9.28 and a debt-to-equity ratio of 5.93.

Cytokinetics (NASDAQ:CYTK) last announced its earnings results on Thursday, February 27th. The biopharmaceutical company reported ($1.26) EPS for the quarter, topping the consensus estimate of ($1.29) by $0.03. The firm had revenue of $16.93 million during the quarter, compared to the consensus estimate of $14.26 million. As a group, equities analysts anticipate that Cytokinetics will post -5.24 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Robert I. Blum sold 16,970 shares of the company’s stock in a transaction that occurred on Thursday, March 6th. The shares were sold at an average price of $43.44, for a total value of $737,176.80. Following the completion of the transaction, the chief executive officer now owns 364,181 shares in the company, valued at $15,820,022.64. This represents a 4.45 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Fady Ibraham Malik sold 2,000 shares of the company’s stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of $45.92, for a total value of $91,840.00. Following the transaction, the executive vice president now directly owns 116,071 shares of the company’s stock, valued at $5,329,980.32. This represents a 1.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 43,834 shares of company stock valued at $1,949,275. 3.40% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the business. Jones Financial Companies Lllp boosted its holdings in shares of Cytokinetics by 189.8% in the 4th quarter. Jones Financial Companies Lllp now owns 571 shares of the biopharmaceutical company’s stock valued at $27,000 after buying an additional 374 shares during the last quarter. MetLife Investment Management LLC boosted its position in Cytokinetics by 0.4% during the third quarter. MetLife Investment Management LLC now owns 123,308 shares of the biopharmaceutical company’s stock worth $6,511,000 after purchasing an additional 538 shares during the period. Retirement Systems of Alabama increased its holdings in shares of Cytokinetics by 0.4% in the fourth quarter. Retirement Systems of Alabama now owns 143,495 shares of the biopharmaceutical company’s stock valued at $6,750,000 after purchasing an additional 565 shares during the last quarter. Arizona State Retirement System raised its position in shares of Cytokinetics by 1.9% in the fourth quarter. Arizona State Retirement System now owns 32,366 shares of the biopharmaceutical company’s stock valued at $1,522,000 after purchasing an additional 600 shares during the period. Finally, Inspire Investing LLC lifted its stake in shares of Cytokinetics by 7.8% during the 4th quarter. Inspire Investing LLC now owns 8,504 shares of the biopharmaceutical company’s stock worth $400,000 after buying an additional 616 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.