Cytokinetics, Incorporated (NASDAQ:CYTK) Receives $80.67 Consensus Price Target from Analysts

Cytokinetics, Incorporated (NASDAQ:CYTK) has been given an average recommendation of “Moderate Buy” by the fifteen research firms that are presently covering the company, Marketbeat reports. Four analysts have rated the stock with a hold recommendation and eleven have given a buy recommendation to the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $80.67.

A number of equities research analysts have weighed in on the company. HC Wainwright reaffirmed a “buy” rating and issued a $90.00 price objective on shares of Cytokinetics in a report on Monday. Needham & Company LLC reaffirmed a “buy” rating and set a $72.00 price objective on shares of Cytokinetics in a report on Tuesday, September 3rd. Cantor Fitzgerald reissued an “overweight” rating on shares of Cytokinetics in a report on Monday, September 9th. JMP Securities restated a “market outperform” rating and set a $78.00 target price on shares of Cytokinetics in a research report on Wednesday, September 4th. Finally, B. Riley cut their price target on shares of Cytokinetics from $122.00 to $92.00 and set a “buy” rating for the company in a report on Tuesday, June 4th.

Cytokinetics Price Performance

Cytokinetics stock opened at $52.80 on Tuesday. The business has a 50 day simple moving average of $55.71 and a 200-day simple moving average of $58.67. Cytokinetics has a 12 month low of $25.98 and a 12 month high of $110.25. The company has a debt-to-equity ratio of 5.93, a current ratio of 10.39 and a quick ratio of 10.39. The stock has a market capitalization of $5.54 billion, a PE ratio of -9.78 and a beta of 0.77.

Cytokinetics (NASDAQ:CYTK) last announced its quarterly earnings data on Thursday, August 8th. The biopharmaceutical company reported ($1.31) EPS for the quarter, missing analysts’ consensus estimates of ($1.06) by ($0.25). The business had revenue of $0.25 million for the quarter, compared to the consensus estimate of $7.61 million. During the same period in the prior year, the firm posted ($1.34) EPS. The business’s revenue was down 71.3% compared to the same quarter last year. Equities analysts predict that Cytokinetics will post -5.15 earnings per share for the current year.

Insider Activity

In related news, CEO Robert I. Blum sold 11,500 shares of Cytokinetics stock in a transaction that occurred on Wednesday, July 10th. The stock was sold at an average price of $54.29, for a total transaction of $624,335.00. Following the completion of the transaction, the chief executive officer now directly owns 399,412 shares in the company, valued at approximately $21,684,077.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CEO Robert I. Blum sold 11,500 shares of the business’s stock in a transaction dated Wednesday, July 10th. The shares were sold at an average price of $54.29, for a total value of $624,335.00. Following the completion of the transaction, the chief executive officer now owns 399,412 shares of the company’s stock, valued at approximately $21,684,077.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Fady Ibraham Malik sold 7,300 shares of the company’s stock in a transaction dated Tuesday, July 9th. The shares were sold at an average price of $55.90, for a total transaction of $408,070.00. Following the completion of the transaction, the executive vice president now owns 131,004 shares in the company, valued at $7,323,123.60. The disclosure for this sale can be found here. Insiders have sold 89,037 shares of company stock worth $4,994,252 over the last ninety days. 3.40% of the stock is currently owned by insiders.

Institutional Trading of Cytokinetics

Hedge funds have recently bought and sold shares of the company. J.Safra Asset Management Corp raised its holdings in Cytokinetics by 642.3% in the 2nd quarter. J.Safra Asset Management Corp now owns 527 shares of the biopharmaceutical company’s stock valued at $29,000 after acquiring an additional 456 shares during the last quarter. EntryPoint Capital LLC purchased a new stake in shares of Cytokinetics in the first quarter valued at $74,000. Bessemer Group Inc. increased its stake in Cytokinetics by 25,100.0% in the first quarter. Bessemer Group Inc. now owns 1,260 shares of the biopharmaceutical company’s stock valued at $88,000 after purchasing an additional 1,255 shares during the last quarter. Quarry LP lifted its position in Cytokinetics by 233.3% during the second quarter. Quarry LP now owns 2,000 shares of the biopharmaceutical company’s stock worth $108,000 after buying an additional 1,400 shares during the period. Finally, nVerses Capital LLC acquired a new stake in Cytokinetics in the 2nd quarter worth about $190,000.

About Cytokinetics

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.