Cytokinetics (CYTK) Set to Announce Earnings on Wednesday

Cytokinetics (NASDAQ:CYTK) is scheduled to be releasing its earnings data after the market closes on Wednesday, November 6th. Analysts expect Cytokinetics to post earnings of ($1.26) per share for the quarter. Investors that wish to register for the company’s conference call can do so using this link.

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 firm had revenue of $0.25 million during the quarter, compared to the consensus estimate of $7.61 million. During the same period in the previous year, the business earned ($1.34) EPS. The business’s revenue was down 71.3% on a year-over-year basis. On average, analysts expect Cytokinetics to post $-5 EPS for the current fiscal year and $-5 EPS for the next fiscal year.

Cytokinetics Price Performance

Shares of NASDAQ:CYTK opened at $51.51 on Wednesday. Cytokinetics has a one year low of $30.68 and a one year high of $110.25. The stock has a fifty day moving average of $54.61 and a 200-day moving average of $56.27. The company has a market capitalization of $6.06 billion, a PE ratio of -9.59 and a beta of 0.77. The company has a debt-to-equity ratio of 5.93, a quick ratio of 10.39 and a current ratio of 10.39.

Insider Activity

In other news, CEO Robert I. Blum sold 5,000 shares of Cytokinetics stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $57.03, for a total value of $285,150.00. Following the completion of the transaction, the chief executive officer now owns 397,456 shares in the company, valued at approximately $22,666,915.68. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, CEO Robert I. Blum sold 11,500 shares of the firm’s stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $55.17, for a total value of $634,455.00. Following the completion of the sale, the chief executive officer now owns 399,412 shares of the company’s stock, valued at $22,035,560.04. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Robert I. Blum sold 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $57.03, for a total transaction of $285,150.00. Following the completion of the sale, the chief executive officer now directly owns 397,456 shares of the company’s stock, valued at approximately $22,666,915.68. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 60,784 shares of company stock worth $3,323,317. Insiders own 3.40% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the company. JMP Securities restated a “market outperform” rating and issued a $78.00 target price on shares of Cytokinetics in a report on Wednesday, September 4th. HC Wainwright reiterated a “buy” rating and set a $120.00 price objective on shares of Cytokinetics in a report on Thursday, October 17th. Needham & Company LLC reiterated a “buy” rating and set a $72.00 price objective on shares of Cytokinetics in a report on Thursday, October 17th. Cantor Fitzgerald reiterated an “overweight” rating on shares of Cytokinetics in a report on Friday, October 18th. Finally, The Goldman Sachs Group lowered Cytokinetics from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $85.00 to $60.00 in a report on Tuesday, August 13th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $83.93.

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.