Cytokinetics (NASDAQ:CYTK) Given Buy Rating at HC Wainwright

HC Wainwright restated their buy rating on shares of Cytokinetics (NASDAQ:CYTK) in a research report released on Friday morning,Benzinga reports. They currently have a $120.00 target price on the biopharmaceutical company’s stock.

CYTK has been the topic of a number of other research reports. Royal Bank of Canada boosted their price target on Cytokinetics from $80.00 to $82.00 and gave the company an “outperform” rating in a report on Wednesday. Mizuho upped their target price on Cytokinetics from $99.00 to $103.00 and gave the company an “outperform” rating in a report on Thursday, November 21st. JMP Securities reiterated a “market outperform” rating and issued a $78.00 price target on shares of Cytokinetics in a report on Wednesday, September 4th. Needham & Company LLC reissued a “buy” rating and issued a $72.00 target price on shares of Cytokinetics in a research report on Monday, December 2nd. Finally, JPMorgan Chase & Co. lifted their price target on shares of Cytokinetics from $65.00 to $71.00 and gave the company an “overweight” rating in a research report on Thursday, September 5th. One analyst has rated the stock with a sell rating, four have issued a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $84.07.

Cytokinetics Trading Up 4.6 %

Shares of CYTK stock opened at $48.87 on Friday. The company has a debt-to-equity ratio of 5.93, a current ratio of 9.28 and a quick ratio of 9.28. The business has a 50-day moving average of $52.09 and a 200 day moving average of $53.98. The stock has a market capitalization of $5.77 billion, a PE ratio of -9.08 and a beta of 0.80. Cytokinetics has a 1-year low of $36.24 and a 1-year high of $110.25.

Cytokinetics (NASDAQ:CYTK) last posted its quarterly earnings results on Wednesday, November 6th. The biopharmaceutical company reported ($1.36) EPS for the quarter, missing analysts’ consensus estimates of ($1.27) by ($0.09). The company had revenue of $0.46 million for the quarter, compared to the consensus estimate of $1.21 million. During the same period in the prior year, the company earned ($1.35) EPS. The firm’s revenue was up 22.5% compared to the same quarter last year. As a group, sell-side analysts anticipate that Cytokinetics will post -5.25 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director Wendall Wierenga sold 742 shares of the stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $48.61, for a total transaction of $36,068.62. Following the completion of the sale, the director now owns 24,559 shares in the company, valued at approximately $1,193,812.99. This trade represents a 2.93 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Fady Ibraham Malik sold 7,300 shares of Cytokinetics stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $52.10, for a total transaction of $380,330.00. Following the sale, the executive vice president now owns 118,920 shares in the company, valued at approximately $6,195,732. The trade was a 5.78 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 74,816 shares of company stock worth $3,923,463 over the last three months. 3.40% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. UMB Bank n.a. lifted its stake in shares of Cytokinetics by 65.6% in the 3rd quarter. UMB Bank n.a. now owns 601 shares of the biopharmaceutical company’s stock valued at $32,000 after purchasing an additional 238 shares during the last quarter. Blue Trust Inc. boosted its stake in Cytokinetics by 225.9% during the third quarter. Blue Trust Inc. now owns 981 shares of the biopharmaceutical company’s stock worth $53,000 after buying an additional 680 shares during the period. Values First Advisors Inc. bought a new position in Cytokinetics during the third quarter valued at $54,000. Quarry LP raised its stake in shares of Cytokinetics by 233.3% in the second quarter. Quarry LP now owns 2,000 shares of the biopharmaceutical company’s stock valued at $108,000 after acquiring an additional 1,400 shares during the period. Finally, nVerses Capital LLC bought a new stake in shares of Cytokinetics in the 2nd quarter worth about $190,000.

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.