Stifel Nicolaus Begins Coverage on Cytokinetics (NASDAQ:CYTK)

Equities research analysts at Stifel Nicolaus initiated coverage on shares of Cytokinetics (NASDAQ:CYTK) in a research note issued to investors on Wednesday, MarketBeat reports. The firm set a “buy” rating and a $80.00 price target on the biopharmaceutical company’s stock. Stifel Nicolaus’ target price points to a potential upside of 67.15% from the stock’s previous close.

CYTK has been the subject of a number of other research reports. Needham & Company LLC reiterated a “buy” rating and issued a $72.00 price objective on shares of Cytokinetics in a research report on Monday, December 2nd. Mizuho upped their price target on shares of Cytokinetics from $99.00 to $103.00 and gave the stock an “outperform” rating in a research report on Thursday, November 21st. Royal Bank of Canada upped their price target on shares of Cytokinetics from $80.00 to $82.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 18th. JMP Securities restated a “market outperform” rating and set a $78.00 price target on shares of Cytokinetics in a research report on Tuesday, January 14th. Finally, Cantor Fitzgerald restated an “overweight” rating on shares of Cytokinetics in a research report on Friday, October 18th. Three analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $83.40.

Cytokinetics Trading Up 2.2 %

Shares of Cytokinetics stock opened at $47.86 on Wednesday. The firm has a 50-day simple moving average of $48.80 and a two-hundred day simple moving average of $53.00. The company has a market cap of $5.65 billion, a P/E ratio of -8.90 and a beta of 0.82. Cytokinetics has a fifty-two week low of $44.49 and a fifty-two week high of $84.11. The company has a debt-to-equity ratio of 5.93, a quick ratio of 9.28 and a current ratio of 9.28.

Cytokinetics (NASDAQ:CYTK) last issued its quarterly earnings data 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 business had revenue of $0.46 million for the quarter, compared to analyst estimates of $1.21 million. The business’s revenue for the quarter was up 22.5% on a year-over-year basis. During the same period in the prior year, the business posted ($1.35) EPS. As a group, equities analysts predict that Cytokinetics will post -5.23 earnings per share for the current fiscal year.

Insider Activity at Cytokinetics

In other news, EVP Fady Ibraham Malik sold 7,300 shares of the stock in a transaction that occurred on Wednesday, October 30th. The shares were sold at an average price of $51.91, for a total value of $378,943.00. Following the completion of the sale, the executive vice president now owns 114,920 shares of the company’s stock, valued at $5,965,497.20. This represents a 5.97 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Wendall Wierenga sold 742 shares of the stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $48.61, for a total transaction of $36,068.62. Following the completion of the sale, the director now directly owns 24,559 shares of the company’s stock, valued at approximately $1,193,812.99. This trade represents a 2.93 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 54,216 shares of company stock valued at $2,799,276. Corporate insiders own 3.40% of the company’s stock.

Institutional Trading of Cytokinetics

Several hedge funds have recently made changes to their positions in the company. Van ECK Associates Corp boosted its position in shares of Cytokinetics by 21.3% during the 3rd quarter. Van ECK Associates Corp now owns 71,691 shares of the biopharmaceutical company’s stock worth $3,802,000 after purchasing an additional 12,565 shares during the period. Westfield Capital Management Co. LP boosted its position in shares of 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 worth $64,040,000 after purchasing an additional 339,373 shares during the period. Ghisallo Capital Management LLC purchased a new position in shares of Cytokinetics during the 2nd quarter worth approximately $10,619,000. Darwin Global Management Ltd. purchased a new position in shares of Cytokinetics during the 2nd quarter worth approximately $246,074,000. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of Cytokinetics by 42.7% during the 3rd 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 during the period.

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.