Cytokinetics Stock Rating Reaffirmed by Canaccord Genuity (CYTK)
Cytokinetics (NASDAQ:CYTK)‘s stock had its “buy” rating reaffirmed by Canaccord Genuity in a research note issued on Monday, Analyst Ratings Net reports. They currently have a $9.00 price target on the stock, down from their previous price target of $22.00. Canaccord Genuity’s price objective would suggest a potential upside of 101.79% from the stock’s previous close.
Shares of Cytokinetics (NASDAQ:CYTK) traded down 2.83% on Monday, hitting $4.46. The stock had a trading volume of 5,102,042 shares. Cytokinetics has a 52-week low of $4.30 and a 52-week high of $14.28. The stock has a 50-day moving average of $9.50 and a 200-day moving average of $8.0. The company’s market cap is $160.9 million.
Cytokinetics (NASDAQ:CYTK) last released its earnings data on Thursday, February 6th. The company reported $0.21 EPS for the quarter, beating the Thomson Reuters 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. Analysts expect that Cytokinetics will post $-1.09 EPS for the current fiscal year.
CYTK has been the subject of a number of other recent research reports. Analysts at Needham & Company LLC cut their price target on shares of Cytokinetics from $25.00 to $15.00 in a research note on Monday. They now have a “buy” rating on the stock. Separately, analysts at MLV & Co
downgraded shares of Cytokinetics from a “buy” rating to a “hold” rating in a research note on Friday. They now have a $5.00 price target on the stock, down previously from $26.00. Finally, analysts at Piper Jaffray downgraded shares of Cytokinetics from an “overweight” rating to a “neutral” rating in a research note on Friday. They now have a $7.00 price target on the stock, down previously from $18.00. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $12.20.
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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