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Equities researchers at Piper Jaffray lowered their price objective on shares of Cytokinetics (NASDAQ:CYTK) from $24.00 to $18.00 in a research report issued on Friday, StockRatingsNetwork reports. Piper Jaffray’s price objective would suggest a potential upside of 79.82% from the company’s current price.

Shares of Cytokinetics (NASDAQ:CYTK) traded up 7.75% during mid-day trading on Friday, hitting $10.01. The stock had a trading volume of 1,141,721 shares. Cytokinetics has a 52-week low of $5.76 and a 52-week high of $14.28. The stock has a 50-day moving average of $8. and a 200-day moving average of $7.8. The company’s market cap is $298.7 million.

Cytokinetics (NASDAQ:CYTK) last announced its earnings results on Thursday, February 6th. The company reported $0.21 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.08) by $0.29. The company had revenue of $24.30 million for the quarter, compared to the consensus estimate of $19.14 million. On average, analysts predict that Cytokinetics will post $-1.14 earnings per share for the current fiscal year.

Cytokinetics, Incorporated (NASDAQ:CYTK) is a biopharmaceutical company focused on the discovery and development of small molecule therapeutics that modulate muscle function for the potential treatment of serious diseases and medical conditions.

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