Cytokinetics (NASDAQ:CYTK) Rating Reiterated by HC Wainwright

HC Wainwright reiterated their buy rating on shares of Cytokinetics (NASDAQ:CYTK) in a research note published on Monday, Benzinga reports. HC Wainwright currently has a $90.00 price objective on the biopharmaceutical company’s stock.

A number of other analysts have also recently weighed in on CYTK. JMP Securities reaffirmed a market outperform rating and set a $78.00 target price on shares of Cytokinetics in a research note on Wednesday, September 4th. The Goldman Sachs Group cut shares of Cytokinetics from a buy rating to a neutral rating and decreased their target price for the stock from $85.00 to $60.00 in a research note on Tuesday, August 13th. Cantor Fitzgerald reaffirmed an overweight rating on shares of Cytokinetics in a research note on Monday, September 9th. JPMorgan Chase & Co. lifted their price target on shares of Cytokinetics from $65.00 to $71.00 and gave the stock an overweight rating in a report on Thursday, September 5th. Finally, B. Riley cut their price target on shares of Cytokinetics from $122.00 to $92.00 and set a buy rating on the stock in a report on Tuesday, June 4th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of Moderate Buy and an average target price of $80.67.

Cytokinetics Stock Performance

Shares of NASDAQ:CYTK opened at $55.71 on Monday. The company’s 50 day simple moving average is $55.53 and its 200 day simple moving average is $58.54. The stock has a market capitalization of $5.84 billion, a price-to-earnings ratio of -10.32 and a beta of 0.77. The company has a debt-to-equity ratio of 5.93, a current ratio of 10.39 and a quick ratio of 10.39. Cytokinetics has a 1 year low of $25.98 and a 1 year high of $110.25.

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

Insider Activity

In other 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 transaction of $624,335.00. Following the completion of the sale, the chief executive officer now directly owns 399,412 shares of the company’s stock, valued at $21,684,077.48. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other 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 transaction of $624,335.00. Following the completion of the sale, the chief executive officer now directly owns 399,412 shares of the company’s stock, valued at $21,684,077.48. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director B Lynne Parshall sold 5,000 shares of the business’s stock in a transaction dated Monday, July 15th. The stock was sold at an average price of $55.82, for a total transaction of $279,100.00. Following the sale, the director now directly owns 20,600 shares of the company’s stock, valued at $1,149,892. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 96,084 shares of company stock worth $5,360,766. Company insiders own 3.40% of the company’s stock.

Institutional Investors Weigh In On Cytokinetics

Institutional investors have recently added to or reduced their stakes in the company. First Bank & Trust boosted its stake in Cytokinetics by 4.7% in the second quarter. First Bank & Trust now owns 6,757 shares of the biopharmaceutical company’s stock valued at $366,000 after acquiring an additional 303 shares during the last quarter. J.Safra Asset Management Corp boosted its stake in Cytokinetics by 642.3% in the second 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. Allspring Global Investments Holdings LLC boosted its stake in Cytokinetics by 19.5% in the first quarter. Allspring Global Investments Holdings LLC now owns 3,416 shares of the biopharmaceutical company’s stock valued at $239,000 after acquiring an additional 558 shares during the last quarter. Inspire Investing LLC lifted its stake in shares of Cytokinetics by 13.5% during the 1st quarter. Inspire Investing LLC now owns 5,087 shares of the biopharmaceutical company’s stock valued at $357,000 after buying an additional 605 shares in the last quarter. Finally, DNB Asset Management AS lifted its stake in shares of Cytokinetics by 9.8% during the 2nd quarter. DNB Asset Management AS now owns 7,231 shares of the biopharmaceutical company’s stock valued at $392,000 after buying an additional 645 shares in the last quarter.

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.