Cytokinetics’ (CYTK) Buy Rating Reiterated at HC Wainwright

Cytokinetics (NASDAQ:CYTK)‘s stock had its “buy” rating reiterated by equities researchers at HC Wainwright in a report released on Friday,Benzinga reports. They presently have a $120.00 price objective on the biopharmaceutical company’s stock. HC Wainwright’s price objective would indicate a potential upside of 160.87% from the company’s current price. HC Wainwright also issued estimates for Cytokinetics’ Q1 2025 earnings at ($1.42) EPS, Q2 2025 earnings at ($1.44) EPS, Q3 2025 earnings at ($1.44) EPS, Q4 2025 earnings at ($1.53) EPS and FY2025 earnings at ($5.83) EPS.

Other equities analysts also recently issued research reports about the company. Royal Bank of Canada boosted their target price on Cytokinetics from $80.00 to $82.00 and gave the company an “outperform” rating in a research report on Wednesday, December 18th. Stifel Nicolaus started coverage on Cytokinetics in a report on Wednesday, January 22nd. They set a “buy” rating and a $80.00 price objective for the company. Mizuho boosted their price objective on Cytokinetics from $99.00 to $103.00 and gave the company an “outperform” rating in a report on Thursday, November 21st. Citigroup started coverage on Cytokinetics in a report on Friday, February 7th. They set a “buy” rating and a $86.00 price objective for the company. Finally, JMP Securities restated a “market outperform” rating and set a $78.00 price objective on shares of Cytokinetics in a report on Friday, February 7th. Two analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $82.00.

Cytokinetics Stock Performance

NASDAQ CYTK opened at $46.00 on Friday. The company has a market cap of $5.43 billion, a P/E ratio of -8.55 and a beta of 0.83. The company has a debt-to-equity ratio of 5.93, a quick ratio of 9.28 and a current ratio of 9.28. The business’s 50 day moving average price is $47.22 and its 200-day moving average price is $51.25. Cytokinetics has a fifty-two week low of $40.53 and a fifty-two week high of $75.71.

Cytokinetics (NASDAQ:CYTK) last released its earnings results on Thursday, February 27th. The biopharmaceutical company reported ($1.26) earnings per share for the quarter, beating the consensus estimate of ($1.29) by $0.03. The company had revenue of $16.93 million for the quarter, compared to the consensus estimate of $14.26 million. Sell-side analysts predict that Cytokinetics will post -5.24 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Wendall Wierenga sold 742 shares of the business’s stock in a transaction on Monday, December 16th. The stock was sold at an average price of $48.61, for a total value of $36,068.62. Following the completion of the transaction, the director now directly owns 24,559 shares of the company’s stock, valued at approximately $1,193,812.99. The trade was a 2.93 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Robert I. Blum sold 5,000 shares of the business’s stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $50.76, for a total value of $253,800.00. Following the completion of the transaction, the chief executive officer now directly owns 397,678 shares of the company’s stock, valued at approximately $20,186,135.28. The trade was a 1.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 22,822 shares of company stock worth $1,127,848. 3.40% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the stock. GF Fund Management CO. LTD. bought a new position in shares of Cytokinetics in the 4th quarter worth $117,000. Nationale Nederlanden Powszechne Towarzystwo Emerytalne S.A. bought a new position in shares of Cytokinetics in the 4th quarter worth $15,483,000. Vestal Point Capital LP increased its position in Cytokinetics by 56.7% during the 4th quarter. Vestal Point Capital LP now owns 2,350,000 shares of the biopharmaceutical company’s stock valued at $110,544,000 after buying an additional 850,000 shares in the last quarter. Two Sigma Advisers LP increased its position in Cytokinetics by 5.4% during the 4th quarter. Two Sigma Advisers LP now owns 226,400 shares of the biopharmaceutical company’s stock valued at $10,650,000 after buying an additional 11,700 shares in the last quarter. Finally, Teza Capital Management LLC acquired a new position in Cytokinetics during the 4th quarter valued at about $446,000.

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.