Cytokinetics, Incorporated (NASDAQ:CYTK) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Tuesday. The brokerage presently has a $14.00 target price on the biopharmaceutical company’s stock. Zacks Investment Research‘s price objective indicates a potential upside of 7.28% from the company’s current price.

According to Zacks, “Cytokinetics is a late-stage biopharmaceutical company 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 deteriorating. With an unmatched understanding of muscle biology and mechanics of muscle performance, the company is developing small molecule drug candidates engineered to increase muscle function and contractility. Cytokinetics’ lead drug candidate is tirasemtiv, a fast skeletal muscle activator, for the potential treatment of ALS. Tirasemtiv has been granted orphan drug designation and fast track status by the FDA and orphan medicinal product designation by the EMA. Cytokinetics is collaborating with Amgen Inc. to develop omecamtiv mecarbil, a novel cardiac muscle activator, for the potential treatment of heart failure, and with Astellas Pharma Inc. to develop CK-2127107, a fast skeletal muscle activator, for the potential treatment of spinal muscular atrophy. “

A number of other research analysts also recently weighed in on the stock. ValuEngine upgraded shares of Cytokinetics, from a “sell” rating to a “hold” rating in a report on Friday, June 2nd. Cantor Fitzgerald restated an “overweight” rating on shares of Cytokinetics, in a report on Friday, May 19th. Cowen and Company restated an “outperform” rating and set a $19.00 price target (up previously from $17.00) on shares of Cytokinetics, in a report on Saturday, April 29th. HC Wainwright restated a “buy” rating and set a $25.00 price target on shares of Cytokinetics, in a report on Tuesday, April 25th. Finally, Rodman & Renshaw restated a “buy” rating and set a $25.00 price target on shares of Cytokinetics, in a report on Thursday, March 23rd. Two equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $20.40.

Cytokinetics, (CYTK) traded up 2.35% during mid-day trading on Tuesday, hitting $13.05. The stock had a trading volume of 448,171 shares. The firm’s 50-day moving average is $13.99 and its 200 day moving average is $12.72. The stock has a market cap of $588.33 million, a PE ratio of 176.35 and a beta of 1.97. Cytokinetics, has a one year low of $8.51 and a one year high of $17.20.

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In other Cytokinetics, news, CEO Robert I. Blum sold 5,000 shares of the firm’s stock in a transaction on Monday, July 3rd. The shares were sold at an average price of $12.14, for a total value of $60,700.00. Following the sale, the chief executive officer now directly owns 88,385 shares in the company, valued at approximately $1,072,993.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 7.20% of the company’s stock.

A number of hedge funds have recently bought and sold shares of the company. FMR LLC raised its stake in shares of Cytokinetics, by 8.8% in the first quarter. FMR LLC now owns 5,655,916 shares of the biopharmaceutical company’s stock valued at $72,679,000 after buying an additional 456,502 shares during the period. Vanguard Group Inc. raised its stake in shares of Cytokinetics, by 15.9% in the first quarter. Vanguard Group Inc. now owns 1,949,345 shares of the biopharmaceutical company’s stock valued at $25,049,000 after buying an additional 267,437 shares during the period. Acadian Asset Management LLC acquired a new stake in shares of Cytokinetics, during the first quarter valued at $4,302,000. Geode Capital Management LLC raised its stake in shares of Cytokinetics, by 4.1% in the first quarter. Geode Capital Management LLC now owns 296,683 shares of the biopharmaceutical company’s stock valued at $3,812,000 after buying an additional 11,747 shares during the period. Finally, Morgan Stanley raised its stake in shares of Cytokinetics, by 31.1% in the first quarter. Morgan Stanley now owns 282,311 shares of the biopharmaceutical company’s stock valued at $3,628,000 after buying an additional 67,029 shares during the period. Institutional investors own 58.46% of the company’s stock.

About Cytokinetics,

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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