CYTK has been the subject of a number of other research reports. ValuEngine upgraded shares of Cytokinetics from a buy rating to a strong-buy rating in a research report on Friday, May 10th. HC Wainwright upped their price objective on shares of Cytokinetics from $21.00 to $26.00 and gave the company a buy rating in a research report on Monday, May 6th. Zacks Investment Research cut Cytokinetics from a hold rating to a sell rating in a report on Tuesday, July 9th. Morgan Stanley set a $11.00 target price on Cytokinetics and gave the stock a hold rating in a report on Monday, July 15th. Finally, Cantor Fitzgerald reiterated a buy rating and set a $14.00 target price on shares of Cytokinetics in a report on Friday, May 10th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, four have issued a buy rating and two have assigned a strong buy rating to the company. Cytokinetics currently has an average rating of Buy and an average price target of $16.00.
CYTK opened at $13.09 on Friday. The company has a debt-to-equity ratio of 12.35, a quick ratio of 7.09 and a current ratio of 7.09. Cytokinetics has a 12 month low of $5.75 and a 12 month high of $14.25. The company has a fifty day moving average price of $11.77. The company has a market cap of $779.82 million, a PE ratio of -6.71 and a beta of 1.66.
Cytokinetics (NASDAQ:CYTK) last released its quarterly earnings data on Thursday, August 8th. The biopharmaceutical company reported ($0.56) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.50) by ($0.06). Cytokinetics had a negative net margin of 308.73% and a negative return on equity of 405.45%. The firm had revenue of $7.14 million during the quarter, compared to the consensus estimate of $6.81 million. On average, research analysts predict that Cytokinetics will post -1.85 earnings per share for the current year.
In other Cytokinetics 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 completion of the transaction, the chief executive officer now owns 256,022 shares in the company, valued at approximately $2,800,880.68. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In the last quarter, insiders have sold 16,500 shares of company stock valued at $176,535. Corporate insiders own 5.70% of the company’s stock.
A number of hedge funds have recently added to or reduced their stakes in CYTK. Bank of Montreal Can grew its holdings in shares of Cytokinetics by 109.5% in the 1st quarter. Bank of Montreal Can now owns 3,321 shares of the biopharmaceutical company’s stock valued at $27,000 after acquiring an additional 1,736 shares in the last quarter. Squarepoint Ops LLC grew its holdings in shares of Cytokinetics by 14.2% in the 4th quarter. Squarepoint Ops LLC now owns 11,600 shares of the biopharmaceutical company’s stock valued at $73,000 after acquiring an additional 1,438 shares in the last quarter. BNP Paribas Arbitrage SA grew its holdings in shares of Cytokinetics by 59,718.8% in the 1st quarter. BNP Paribas Arbitrage SA now owns 9,571 shares of the biopharmaceutical company’s stock valued at $77,000 after acquiring an additional 9,555 shares in the last quarter. Municipal Employees Retirement System of Michigan bought a new position in shares of Cytokinetics in the 4th quarter valued at about $98,000. Finally, Metropolitan Life Insurance Co. NY grew its holdings in shares of Cytokinetics by 455.0% in the 4th quarter. Metropolitan Life Insurance Co. NY now owns 15,946 shares of the biopharmaceutical company’s stock valued at $101,000 after acquiring an additional 13,073 shares in the last quarter. Hedge funds and other institutional investors own 69.44% of the company’s stock.
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 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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