Cytokinetics, Inc. (CYTK) Earns “Overweight” Rating from Cantor Fitzgerald
Cytokinetics, Inc. (NASDAQ:CYTK)‘s stock had its “overweight” rating reaffirmed by Cantor Fitzgerald in a research report issued to clients and investors on Friday.
CYTK has been the subject of several other research reports. Piper Jaffray Companies restated an “overweight” rating and set a $15.00 price target on shares of Cytokinetics in a research note on Friday, February 17th. HC Wainwright reiterated a “buy” rating and issued a $25.00 price objective on shares of Cytokinetics in a research note on Tuesday, April 25th. Zacks Investment Research upgraded shares of Cytokinetics from a “hold” rating to a “strong-buy” rating and set a $13.00 price objective for the company in a research note on Tuesday, February 7th. FBR & Co reiterated an “outperform” rating and issued a $24.00 price objective on shares of Cytokinetics in a research note on Friday, February 17th. Finally, Needham & Company LLC upgraded shares of Cytokinetics from a “buy” rating to a “strong-buy” rating and lifted their price objective for the company from $17.00 to $22.00 in a research note on Monday, February 6th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $20.30.
Shares of Cytokinetics (NASDAQ:CYTK) opened at 14.25 on Friday. The company has a market capitalization of $642.43 million, a PE ratio of 192.57 and a beta of 1.79. Cytokinetics has a 52 week low of $7.75 and a 52 week high of $17.20. The company has a 50 day moving average price of $13.94 and a 200 day moving average price of $12.20.
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Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. BlackRock Advisors LLC raised its position in Cytokinetics by 0.9% in the third quarter. BlackRock Advisors LLC now owns 122,815 shares of the biopharmaceutical company’s stock worth $1,127,000 after buying an additional 1,115 shares in the last quarter. Zacks Investment Management purchased a new position in shares of Cytokinetics during the third quarter valued at approximately $237,000. FMR LLC increased its position in shares of Cytokinetics by 2.7% in the fourth quarter. FMR LLC now owns 5,199,414 shares of the biopharmaceutical company’s stock valued at $63,173,000 after buying an additional 136,758 shares during the last quarter. Dynamic Technology Lab Private Ltd purchased a new position in shares of Cytokinetics during the fourth quarter valued at approximately $147,000. Finally, Bayesian Capital Management LP purchased a new position in shares of Cytokinetics during the fourth quarter valued at approximately $159,000. Institutional investors and hedge funds own 66.09% of the company’s stock.
Cytokinetics, Incorporated is a late-stage biopharmaceutical company. The Company is focused on discovering, developing and commercializing first-in-class muscle activators as potential treatments for debilitating diseases in which muscle performance is compromised and/or declining. It is focused on the discovery and development of small molecule therapeutics that modulate muscle function for the treatment of serious diseases and medical conditions.
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