Cytokinetics, Incorporated (NASDAQ:CYTK) Receives $84.07 Average Target Price from Analysts

Shares of Cytokinetics, Incorporated (NASDAQ:CYTK) have been assigned a consensus rating of “Moderate Buy” from the fifteen brokerages that are presently covering the firm, Marketbeat Ratings reports. Three research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. The average 1 year price target among brokers that have covered the stock in the last year is $83.64.

Several research analysts have commented on the stock. Royal Bank of Canada boosted their price target on shares of Cytokinetics from $80.00 to $82.00 and gave the stock an “outperform” rating in a report on Wednesday, December 18th. Mizuho lifted their price objective on shares of Cytokinetics from $99.00 to $103.00 and gave the stock an “outperform” rating in a report on Thursday, November 21st. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Cytokinetics in a report on Friday, October 18th. Needham & Company LLC reissued a “buy” rating and issued a $72.00 target price on shares of Cytokinetics in a report on Monday, December 2nd. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $120.00 price objective on shares of Cytokinetics in a research report on Friday, December 20th.

Cytokinetics Stock Down 0.3 %

Shares of CYTK stock opened at $49.19 on Thursday. The stock has a market cap of $5.81 billion, a P/E ratio of -9.14 and a beta of 0.82. Cytokinetics has a 52 week low of $45.66 and a 52 week high of $110.25. The company’s fifty day simple moving average is $50.74 and its two-hundred day simple moving average is $53.65. The company has a quick ratio of 9.28, a current ratio of 9.28 and a debt-to-equity ratio of 5.93.

Cytokinetics (NASDAQ:CYTK) last released its quarterly earnings results 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 analyst estimates of $1.21 million. The business’s quarterly revenue was up 22.5% on a year-over-year basis. During the same quarter in the prior year, the company earned ($1.35) EPS. Analysts predict that Cytokinetics will post -5.25 EPS for the current fiscal year.

Insider Transactions at Cytokinetics

In related news, CEO Robert I. Blum sold 5,000 shares of the business’s stock in a transaction dated Wednesday, October 9th. The stock was sold at an average price of $55.61, for a total transaction of $278,050.00. Following the transaction, the chief executive officer now owns 397,456 shares in the company, valued at $22,102,528.16. The trade was a 1.24 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Fady Ibraham Malik sold 7,300 shares of the stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $54.19, for a total transaction of $395,587.00. Following the completion of the transaction, the executive vice president now directly owns 116,920 shares of the company’s stock, valued at approximately $6,335,894.80. The trade was a 5.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 62,516 shares of company stock valued at $3,282,433. 3.40% of the stock is owned by corporate insiders.

Institutional Trading of Cytokinetics

Several institutional investors have recently added to or reduced their stakes in the business. Darwin Global Management Ltd. purchased a new stake in Cytokinetics in the second quarter worth about $246,074,000. Geode Capital Management LLC grew its holdings in shares of Cytokinetics by 4.0% in the third quarter. Geode Capital Management LLC now owns 2,848,584 shares of the biopharmaceutical company’s stock worth $150,433,000 after purchasing an additional 109,938 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in Cytokinetics by 42.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,321,391 shares of the biopharmaceutical company’s stock worth $69,769,000 after purchasing an additional 395,709 shares in the last quarter. Westfield Capital Management Co. LP increased its position in Cytokinetics by 38.9% during the 3rd quarter. Westfield Capital Management Co. LP now owns 1,212,886 shares of the biopharmaceutical company’s stock valued at $64,040,000 after purchasing an additional 339,373 shares during the period. Finally, Janus Henderson Group PLC lifted its stake in shares of Cytokinetics by 17.2% during the 3rd quarter. Janus Henderson Group PLC now owns 1,143,830 shares of the biopharmaceutical company’s stock worth $60,399,000 after purchasing an additional 167,501 shares during the last quarter.

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.