Cytokinetics (NASDAQ:CYTK) Receives “Buy” Rating from HC Wainwright

Cytokinetics (NASDAQ:CYTK)‘s stock had its “buy” rating reissued by equities researchers at HC Wainwright in a research report issued to clients and investors on Thursday,Benzinga reports. They currently have a $120.00 target price on the biopharmaceutical company’s stock. HC Wainwright’s price objective indicates a potential upside of 112.80% from the stock’s current price.

Other research analysts have also issued research reports about the stock. The Goldman Sachs Group lowered shares of Cytokinetics from a “buy” rating to a “neutral” rating and cut their target price for the stock from $85.00 to $60.00 in a research report on Tuesday, August 13th. JMP Securities reissued a “market outperform” rating and set a $78.00 target price on shares of Cytokinetics in a research report on Wednesday, September 4th. JPMorgan Chase & Co. boosted their target price on shares of Cytokinetics from $65.00 to $71.00 and gave the stock an “overweight” rating in a research report on Thursday, September 5th. Needham & Company LLC reissued a “buy” rating and set a $72.00 target price on shares of Cytokinetics in a research report on Thursday, October 17th. Finally, Cantor Fitzgerald restated an “overweight” rating on shares of Cytokinetics in a report on Friday, October 18th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $83.93.

Cytokinetics Stock Up 1.6 %

Shares of CYTK stock traded up $0.89 on Thursday, hitting $56.39. The company’s stock had a trading volume of 1,282,812 shares, compared to its average volume of 2,075,245. The company has a debt-to-equity ratio of 5.93, a current ratio of 10.39 and a quick ratio of 10.39. Cytokinetics has a fifty-two week low of $30.68 and a fifty-two week high of $110.25. The firm’s fifty day moving average price is $54.11 and its 200-day moving average price is $55.70. The stock has a market capitalization of $6.63 billion, a price-to-earnings ratio of -10.60 and a beta of 0.78.

Cytokinetics (NASDAQ:CYTK) last released its earnings results 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 analysts’ expectations of $1.21 million. Cytokinetics’s revenue was up 22.5% on a year-over-year basis. During the same period last year, the company posted ($1.35) earnings per share. Research analysts anticipate that Cytokinetics will post -5.15 EPS for the current year.

Insider Activity at Cytokinetics

In related news, CEO Robert I. Blum sold 5,000 shares of the company’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $51.63, for a total value of $258,150.00. Following the sale, the chief executive officer now owns 397,456 shares of the company’s stock, valued at $20,520,653.28. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Cytokinetics news, CEO Robert I. Blum sold 5,000 shares of the business’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $51.63, for a total value of $258,150.00. Following the transaction, the chief executive officer now directly owns 397,456 shares in the company, valued at $20,520,653.28. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Fady Ibraham Malik sold 7,384 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $57.01, for a total transaction of $420,961.84. Following the completion of the transaction, the executive vice president now owns 122,920 shares in the company, valued at approximately $7,007,669.20. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 70,236 shares of company stock valued at $3,800,944 over the last quarter. 3.40% of the stock is owned by company insiders.

Hedge Funds Weigh In On Cytokinetics

Large investors have recently modified their holdings of the stock. J.Safra Asset Management Corp lifted its position in shares of Cytokinetics by 642.3% during the second quarter. J.Safra Asset Management Corp now owns 527 shares of the biopharmaceutical company’s stock worth $29,000 after purchasing an additional 456 shares in the last quarter. UMB Bank n.a. lifted its holdings in Cytokinetics by 65.6% in the third quarter. UMB Bank n.a. now owns 601 shares of the biopharmaceutical company’s stock valued at $32,000 after buying an additional 238 shares during the period. Blue Trust Inc. lifted its holdings in Cytokinetics by 225.9% in the third quarter. Blue Trust Inc. now owns 981 shares of the biopharmaceutical company’s stock valued at $53,000 after buying an additional 680 shares during the period. Values First Advisors Inc. acquired a new position in Cytokinetics in the third quarter valued at approximately $54,000. Finally, EntryPoint Capital LLC acquired a new position in Cytokinetics in the first quarter valued at approximately $74,000.

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. The company develops small molecule drug candidates primarily engineered to impact muscle function and contractility.