Cytokinetics (NASDAQ:CYTK) Lowered to “Hold” at ValuEngine

ValuEngine downgraded shares of Cytokinetics (NASDAQ:CYTK) from a buy rating to a hold rating in a research note released on Wednesday morning, ValuEngine reports.

Other analysts have also issued reports about the stock. JMP Securities set a $23.00 target price on shares of Cytokinetics and gave the stock a buy rating in a report on Friday, September 13th. Piper Jaffray Companies reiterated an overweight rating and set a $20.00 target price (up from $14.00) on shares of Cytokinetics in a report on Monday, September 16th. Needham & Company LLC set a $16.00 target price on shares of Cytokinetics and gave the stock a buy rating in a report on Friday, August 9th. Morgan Stanley set a $16.00 target price on shares of Cytokinetics and gave the stock a hold rating in a report on Friday, August 9th. Finally, Zacks Investment Research lowered shares of Cytokinetics from a hold rating to a sell rating in a report on Friday, September 27th. Four investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Cytokinetics has a consensus rating of Buy and a consensus target price of $18.71.

NASDAQ CYTK traded up $0.19 during trading on Wednesday, hitting $11.76. 465,211 shares of the company’s stock traded hands, compared to its average volume of 480,266. The stock has a fifty day moving average of $13.07 and a two-hundred day moving average of $10.93. The company has a debt-to-equity ratio of 12.35, a current ratio of 8.42 and a quick ratio of 8.42. Cytokinetics has a 12-month low of $5.75 and a 12-month high of $14.94. The firm has a market cap of $678.91 million, a P/E ratio of -6.03 and a beta of 1.55.

Cytokinetics (NASDAQ:CYTK) last posted its quarterly earnings results on Thursday, August 8th. The biopharmaceutical company reported ($0.56) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.50) by ($0.06). Cytokinetics had a negative net margin of 308.73% and a negative return on equity of 575.21%. The business had revenue of $7.14 million for the quarter, compared to analysts’ expectations of $6.81 million. As a group, analysts expect that Cytokinetics will post -2 earnings per share for the current fiscal year.

In other news, CEO Robert I. Blum sold 6,000 shares of the stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $12.74, for a total transaction of $76,440.00. Following the completion of the sale, the chief executive officer now directly owns 244,022 shares in the company, valued at $3,108,840.28. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Over the last quarter, insiders have sold 24,000 shares of company stock valued at $292,455. 5.70% of the stock is currently owned by company insiders.

Several institutional investors have recently bought and sold shares of the company. Louisiana State Employees Retirement System lifted its holdings in Cytokinetics by 4.9% in the second quarter. Louisiana State Employees Retirement System now owns 21,500 shares of the biopharmaceutical company’s stock worth $237,000 after buying an additional 1,000 shares during the period. State of Alaska Department of Revenue lifted its holdings in Cytokinetics by 6.3% in the second quarter. State of Alaska Department of Revenue now owns 19,608 shares of the biopharmaceutical company’s stock worth $220,000 after buying an additional 1,170 shares during the period. Municipal Employees Retirement System of Michigan lifted its holdings in Cytokinetics by 7.7% in the second quarter. Municipal Employees Retirement System of Michigan now owns 17,270 shares of the biopharmaceutical company’s stock worth $194,000 after buying an additional 1,230 shares during the period. Oregon Public Employees Retirement Fund lifted its holdings in Cytokinetics by 8.0% in the second quarter. Oregon Public Employees Retirement Fund now owns 22,889 shares of the biopharmaceutical company’s stock worth $258,000 after buying an additional 1,700 shares during the period. Finally, Bank of Montreal Can lifted its holdings in Cytokinetics by 109.5% in the first quarter. Bank of Montreal Can now owns 3,321 shares of the biopharmaceutical company’s stock worth $27,000 after buying an additional 1,736 shares during the period. Institutional investors own 74.57% of the company’s stock.

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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Analyst Recommendations for Cytokinetics (NASDAQ:CYTK)

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