Cytokinetics (NASDAQ:CYTK) Earns “Buy” Rating from HC Wainwright

HC Wainwright restated their buy rating on shares of Cytokinetics (NASDAQ:CYTK) in a research report report published on Thursday morning,Benzinga reports. They currently have a $120.00 target price on the biopharmaceutical company’s stock.

Several other brokerages have also recently issued reports on CYTK. Cantor Fitzgerald reissued an “overweight” rating on shares of Cytokinetics in a report on Friday, October 18th. The Goldman Sachs Group downgraded Cytokinetics from a “buy” rating to a “neutral” rating and decreased their price target for the company from $85.00 to $60.00 in a report on Tuesday, August 13th. Needham & Company LLC reaffirmed a “buy” rating and set a $72.00 price objective on shares of Cytokinetics in a research note on Thursday, October 17th. JMP Securities reiterated a “market outperform” rating and issued a $78.00 target price on shares of Cytokinetics in a research note on Wednesday, September 4th. Finally, JPMorgan Chase & Co. raised their price target on shares of Cytokinetics from $65.00 to $71.00 and gave the company an “overweight” rating in a research report on Thursday, September 5th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and twelve have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $83.67.

Cytokinetics Price Performance

Shares of NASDAQ:CYTK opened at $57.98 on Thursday. Cytokinetics has a twelve month low of $30.68 and a twelve month high of $110.25. The company has a current ratio of 10.39, a quick ratio of 10.39 and a debt-to-equity ratio of 5.93. The company has a market cap of $6.82 billion, a PE ratio of -10.78 and a beta of 0.78. The company’s 50 day moving average is $54.10 and its 200 day moving average is $55.49.

Cytokinetics (NASDAQ:CYTK) last released its quarterly earnings data on Wednesday, November 6th. The biopharmaceutical company reported ($1.36) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.27) by ($0.09). The firm had revenue of $0.46 million for the quarter, compared to analysts’ expectations of $1.21 million. Cytokinetics’s revenue for the quarter was up 22.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($1.35) EPS. On average, sell-side analysts forecast that Cytokinetics will post -5.2 EPS for the current year.

Insider Activity at Cytokinetics

In related news, CEO Robert I. Blum sold 5,000 shares of Cytokinetics stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $57.03, for a total value of $285,150.00. Following the sale, the chief executive officer now directly owns 397,456 shares in the company, valued at approximately $22,666,915.68. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, EVP Fady Ibraham Malik sold 7,300 shares of the stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $52.10, for a total value of $380,330.00. Following the completion of the sale, the executive vice president now directly owns 118,920 shares in the company, valued at $6,195,732. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Robert I. Blum sold 5,000 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $57.03, for a total transaction of $285,150.00. Following the completion of the transaction, the chief executive officer now directly owns 397,456 shares in the company, valued at approximately $22,666,915.68. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 53,736 shares of company stock valued at $2,890,489. 3.40% of the stock is owned by corporate insiders.

Institutional Trading of Cytokinetics

A number of hedge funds have recently bought and sold shares of the business. J.Safra Asset Management Corp boosted its holdings in shares of Cytokinetics by 642.3% during the 2nd quarter. J.Safra Asset Management Corp now owns 527 shares of the biopharmaceutical company’s stock worth $29,000 after purchasing an additional 456 shares during the last quarter. UMB Bank n.a. lifted its position in Cytokinetics by 65.6% during the third quarter. UMB Bank n.a. now owns 601 shares of the biopharmaceutical company’s stock worth $32,000 after buying an additional 238 shares in the last quarter. Blue Trust Inc. boosted 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 buying an additional 680 shares during the last quarter. Values First Advisors Inc. purchased a new stake in Cytokinetics in the 3rd quarter valued at $54,000. Finally, EntryPoint Capital LLC purchased a new stake in Cytokinetics in the 1st quarter valued at $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.