Analysts Set Cytokinetics, Inc. (NASDAQ:CYTK) Target Price at $15.75

Cytokinetics, Inc. (NASDAQ:CYTK) has been assigned a consensus rating of “Buy” from the seven analysts that are currently covering the firm, MarketBeat reports. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $15.75.

CYTK has been the subject of a number of research analyst reports. Piper Jaffray Companies lifted their target price on Cytokinetics from $12.00 to $13.00 and gave the company an “overweight” rating in a research report on Wednesday, March 20th. HC Wainwright lifted their target price on Cytokinetics from $21.00 to $26.00 and gave the company a “buy” rating in a research report on Monday, May 6th. Zacks Investment Research raised DLH from a “sell” rating to a “hold” rating in a research report on Tuesday. BidaskClub lowered Waterstone Financial from a “hold” rating to a “sell” rating in a research report on Friday, June 21st. Finally, ValuEngine lowered Yext from a “strong-buy” rating to a “buy” rating in a research report on Friday, May 10th.

In other Cytokinetics news, CEO Robert I. Blum sold 6,000 shares of Cytokinetics stock in a transaction on Monday, June 17th. The stock was sold at an average price of $9.71, for a total transaction of $58,260.00. Following the completion of the sale, the chief executive officer now directly owns 262,022 shares of the company’s stock, valued at approximately $2,544,233.62. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Over the last ninety days, insiders have sold 10,500 shares of company stock valued at $103,050. 5.70% of the stock is currently owned by corporate insiders.



A number of hedge funds and other institutional investors have recently modified their holdings of the business. Bank of Montreal Can increased its holdings in shares of Cytokinetics by 109.5% in the 1st quarter. Bank of Montreal Can now owns 3,321 shares of the biopharmaceutical company’s stock valued at $27,000 after acquiring an additional 1,736 shares during the period. Neuburgh Advisers LLC increased its holdings in shares of Cytokinetics by 55.6% in the 4th quarter. Neuburgh Advisers LLC now owns 6,776 shares of the biopharmaceutical company’s stock valued at $43,000 after acquiring an additional 2,420 shares during the period. BNP Paribas Arbitrage SA increased its holdings in shares of Cytokinetics by 59,718.8% in the 1st quarter. BNP Paribas Arbitrage SA now owns 9,571 shares of the biopharmaceutical company’s stock valued at $77,000 after acquiring an additional 9,555 shares during the period. Flinton Capital Management LLC increased its holdings in shares of Cytokinetics by 55.6% in the 4th quarter. Flinton Capital Management LLC now owns 10,472 shares of the biopharmaceutical company’s stock valued at $66,000 after acquiring an additional 3,740 shares during the period. Finally, Squarepoint Ops LLC increased its holdings in shares of Cytokinetics by 14.2% in the 4th quarter. Squarepoint Ops LLC now owns 11,600 shares of the biopharmaceutical company’s stock valued at $73,000 after acquiring an additional 1,438 shares during the period. 69.29% of the stock is owned by institutional investors and hedge funds.

Shares of CYTK stock traded down $0.01 on Friday, reaching $11.03. 366,560 shares of the company’s stock were exchanged, compared to its average volume of 384,737. Cytokinetics has a 52 week low of $5.75 and a 52 week high of $11.58. The company has a quick ratio of 7.09, a current ratio of 7.09 and a debt-to-equity ratio of 12.35. The company has a market cap of $637.24 million, a PE ratio of -5.66 and a beta of 1.69. The business has a fifty day moving average of $10.55.

Cytokinetics (NASDAQ:CYTK) last issued its quarterly earnings results on Thursday, May 9th. The biopharmaceutical company reported ($0.54) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.47) by ($0.07). The business had revenue of $8.46 million for the quarter, compared to the consensus estimate of $6.21 million. Cytokinetics had a negative return on equity of 269.27% and a negative net margin of 303.70%. Equities analysts predict that Cytokinetics will post -1.85 EPS for the current year.

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 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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