A number of other research analysts have also recently commented on CYTK. Needham & Company LLC set a $16.00 price target on Cytokinetics and gave the company a buy rating in a research report on Friday, August 9th. Zacks Investment Research cut Cytokinetics from a hold rating to a sell rating in a research report on Tuesday, August 13th. Piper Jaffray Companies set a $14.00 price objective on Cytokinetics and gave the stock a buy rating in a report on Monday, July 15th. ValuEngine raised Cytokinetics from a buy rating to a strong-buy rating in a report on Friday, May 10th. Finally, Cantor Fitzgerald reissued a buy rating and set a $14.00 price objective on shares of Cytokinetics in a report on Friday, May 10th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. Cytokinetics has a consensus rating of Buy and a consensus price target of $16.00.
Shares of NASDAQ CYTK opened at $13.99 on Friday. Cytokinetics has a one year low of $5.75 and a one year high of $14.25. The company has a debt-to-equity ratio of 12.35, a current ratio of 8.42 and a quick ratio of 7.09. The business’s fifty day moving average price is $12.02 and its 200-day moving average price is $9.61. The stock has a market capitalization of $801.57 million, a PE ratio of -7.17 and a beta of 1.66.
Cytokinetics (NASDAQ:CYTK) last issued its quarterly earnings results on Thursday, August 8th. The biopharmaceutical company reported ($0.56) EPS for the quarter, missing analysts’ consensus estimates of ($0.50) by ($0.06). Cytokinetics had a negative net margin of 308.73% and a negative return on equity of 575.21%. The firm had revenue of $7.14 million for the quarter, compared to analysts’ expectations of $6.81 million. As a group, equities analysts expect that Cytokinetics will post -2 EPS for the current fiscal year.
In related news, CEO Robert I. Blum sold 6,000 shares of the stock in a transaction dated Monday, July 15th. The stock was sold at an average price of $10.94, for a total transaction of $65,640.00. Following the sale, the chief executive officer now owns 256,022 shares of the company’s stock, valued at approximately $2,800,880.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have sold a total of 22,500 shares of company stock worth $252,375 in the last three months. 5.70% of the stock is currently owned by insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Louisiana State Employees Retirement System increased its stake in Cytokinetics by 4.9% in the 2nd quarter. Louisiana State Employees Retirement System now owns 21,500 shares of the biopharmaceutical company’s stock worth $237,000 after acquiring an additional 1,000 shares during the last quarter. State of Alaska Department of Revenue increased its stake in Cytokinetics by 6.3% in the 2nd quarter. State of Alaska Department of Revenue now owns 19,608 shares of the biopharmaceutical company’s stock worth $220,000 after acquiring an additional 1,170 shares during the last quarter. Municipal Employees Retirement System of Michigan increased its stake in Cytokinetics by 7.7% in the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 17,270 shares of the biopharmaceutical company’s stock worth $194,000 after acquiring an additional 1,230 shares during the last quarter. Texas Permanent School Fund increased its stake in Cytokinetics by 3.8% in the 1st quarter. Texas Permanent School Fund now owns 37,148 shares of the biopharmaceutical company’s stock worth $301,000 after acquiring an additional 1,346 shares during the last quarter. Finally, Squarepoint Ops LLC increased its stake in Cytokinetics by 14.2% in the 4th quarter. Squarepoint Ops LLC now owns 11,600 shares of the biopharmaceutical company’s stock worth $73,000 after acquiring an additional 1,438 shares during the last quarter. Institutional investors and hedge funds own 66.26% of the company’s stock.
Cytokinetics, Incorporated, a late-stage biopharmaceutical company, focuses on discovering, developing, and commercializing muscle activators and inhibitors as potential treatments for debilitating diseases in which muscle performance is compromised and/or declining. The company is developing small molecule drug candidates primarily engineered to increase muscle function and contractility.
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