Zacks: Analysts Anticipate Cytokinetics, Inc. (CYTK) Will Post Quarterly Sales of $6.81 Million

Equities analysts expect Cytokinetics, Inc. (NASDAQ:CYTK) to announce sales of $6.81 million for the current quarter, according to Zacks Investment Research. Two analysts have made estimates for Cytokinetics’ earnings, with estimates ranging from $6.11 million to $7.50 million. Cytokinetics posted sales of $6.22 million in the same quarter last year, which would indicate a positive year over year growth rate of 9.5%. The business is expected to announce its next earnings results on Thursday, July 25th.

According to Zacks, analysts expect that Cytokinetics will report full year sales of $32.82 million for the current fiscal year, with estimates ranging from $29.00 million to $38.00 million. For the next fiscal year, analysts forecast that the firm will post sales of $35.06 million, with estimates ranging from $31.18 million to $39.00 million. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research analysts that that provide coverage for Cytokinetics.

Cytokinetics (NASDAQ:CYTK) last released its quarterly earnings results on Thursday, May 9th. The biopharmaceutical company reported ($0.54) earnings per share for the quarter, missing the consensus estimate of ($0.47) by ($0.07). The company had revenue of $8.46 million for the quarter, compared to analysts’ expectations of $6.21 million. Cytokinetics had a negative return on equity of 269.27% and a negative net margin of 303.70%.



Several equities analysts have weighed in on the company. Zacks Investment Research raised Cytokinetics from a “hold” rating to a “buy” rating and set a $10.00 price target for the company in a research report on Wednesday, April 24th. BidaskClub raised Cytokinetics from a “hold” rating to a “buy” rating in a research report on Tuesday, March 26th. Cantor Fitzgerald reaffirmed a “buy” rating and issued a $14.00 price objective on shares of Cytokinetics in a research report on Friday, May 10th. ValuEngine raised Cytokinetics from a “buy” rating to a “strong-buy” rating in a research report on Friday, May 10th. Finally, HC Wainwright set a $21.00 price objective on Cytokinetics and gave the company a “buy” rating in a research report on Tuesday, April 23rd. Two equities research analysts have rated the stock with a hold rating, three have issued a buy rating and two have given a strong buy rating to the company. Cytokinetics has a consensus rating of “Buy” and a consensus price target of $14.60.

Large investors have recently made changes to their positions in the company. Magnus Financial Group LLC purchased a new stake in shares of Cytokinetics in the fourth quarter valued at $75,000. State of Alaska Department of Revenue boosted its holdings in Cytokinetics by 9.4% in the fourth quarter. State of Alaska Department of Revenue now owns 18,233 shares of the biopharmaceutical company’s stock valued at $115,000 after acquiring an additional 1,564 shares during the last quarter. D. E. Shaw & Co. Inc. boosted its holdings in Cytokinetics by 48.8% in the fourth quarter. D. E. Shaw & Co. Inc. now owns 187,083 shares of the biopharmaceutical company’s stock valued at $1,183,000 after acquiring an additional 61,344 shares during the last quarter. Legal & General Group Plc boosted its holdings in Cytokinetics by 16.2% in the third quarter. Legal & General Group Plc now owns 114,983 shares of the biopharmaceutical company’s stock valued at $1,132,000 after acquiring an additional 16,053 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its holdings in Cytokinetics by 233.6% in the third quarter. Dimensional Fund Advisors LP now owns 229,377 shares of the biopharmaceutical company’s stock valued at $2,259,000 after acquiring an additional 160,622 shares during the last quarter. 71.99% of the stock is owned by institutional investors and hedge funds.

Cytokinetics stock traded up $0.19 during mid-day trading on Friday, hitting $10.62. 11,663 shares of the company were exchanged, compared to its average volume of 582,040. The company has a debt-to-equity ratio of 12.35, a quick ratio of 7.09 and a current ratio of 7.09. The company has a market capitalization of $583.56 million, a price-to-earnings ratio of -5.43 and a beta of 2.05. Cytokinetics has a 12-month low of $5.75 and a 12-month high of $10.76.

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 in which muscle performance is compromised and/or declining. The company is developing small molecule drug candidates primarily engineered to increase muscle function and contractility.

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Earnings History and Estimates for Cytokinetics (NASDAQ:CYTK)

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