Cytokinetics Inc. (NASDAQ:CYTK)’s share price rose 3.3% during mid-day trading on Tuesday . The company traded as high as $8.88 and last traded at $8.83, with a volume of 265,157 shares changing hands. The stock had previously closed at $8.55.

A number of equities research analysts recently issued reports on CYTK shares. Needham & Company LLC reiterated a “buy” rating and set a $17.00 target price on shares of Cytokinetics in a research report on Thursday, September 1st. FBR & Co reiterated a “buy” rating on shares of Cytokinetics in a research report on Friday, September 9th. Zacks Investment Research upgraded shares of Cytokinetics from a “hold” rating to a “buy” rating and set a $12.00 target price for the company in a research report on Monday, September 5th. Piper Jaffray Cos. reiterated an “overweight” rating and set a $24.00 target price on shares of Cytokinetics in a research report on Wednesday, May 25th. Finally, JMP Securities reiterated a “buy” rating and set a $17.00 target price on shares of Cytokinetics in a research report on Tuesday, August 2nd. Eight investment analysts have rated the stock with a buy rating, Cytokinetics presently has a consensus rating of “Buy” and an average price target of $18.25.

The company’s market cap is $350.18 million. The company has a 50 day moving average price of $11.03 and a 200 day moving average price of $8.98.

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Cytokinetics (NASDAQ:CYTK) last announced its earnings results on Thursday, July 28th. The biopharmaceutical company reported ($0.29) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.28) by $0.02. Cytokinetics had a negative net margin of 132.01% and a negative return on equity of 69.51%. On average, equities research analysts forecast that Cytokinetics Inc. will post ($1.30) earnings per share for the current year.

Several large investors have recently made changes to their positions in CYTK. Wellington Management Group LLP boosted its stake in shares of Cytokinetics by 651.4% in the first quarter. Wellington Management Group LLP now owns 1,928,693 shares of the biopharmaceutical company’s stock worth $13,597,000 after buying an additional 1,672,028 shares during the last quarter. BVF Inc. IL boosted its stake in shares of Cytokinetics by 48.6% in the first quarter. BVF Inc. IL now owns 4,340,729 shares of the biopharmaceutical company’s stock worth $30,602,000 after buying an additional 1,420,101 shares during the last quarter. FMR LLC boosted its stake in shares of Cytokinetics by 56.0% in the second quarter. FMR LLC now owns 3,307,822 shares of the biopharmaceutical company’s stock worth $31,391,000 after buying an additional 1,188,025 shares during the last quarter. Sphera Funds Management LTD. bought a new position in Cytokinetics during the first quarter worth approximately $2,411,000. Finally, Vanguard Group Inc. increased its position in Cytokinetics by 22.8% in the second quarter. Vanguard Group Inc. now owns 1,804,613 shares of the biopharmaceutical company’s stock worth $17,125,000 after buying an additional 334,655 shares during the period. 67.32% of the stock is owned by institutional investors.

About Cytokinetics

Cytokinetics, Incorporated is a biopharmaceutical company. The Company is focused on the discovery and development of small molecule therapeutics that modulate muscle function for the treatment of serious diseases and medical conditions. Its drug candidates include tirasemtiv, CK-2127107 and omecamtiv mecarbil.

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