Cytokinetics, Incorporated (NASDAQ:CYTK) Receives Consensus Recommendation of “Buy” from Analysts
Shares of Cytokinetics, Incorporated (NASDAQ:CYTK) have been given a consensus rating of “Buy” by the twelve ratings firms that are currently covering the company, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, two have given a hold rating, eight have assigned a buy rating and one has issued a strong buy rating on the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $21.71.
Several research firms have recently weighed in on CYTK. ValuEngine raised Cytokinetics, from a “sell” rating to a “hold” rating in a research report on Friday, June 2nd. Cantor Fitzgerald reissued an “overweight” rating on shares of Cytokinetics, in a research report on Friday, May 19th. Zacks Investment Research lowered Cytokinetics, from a “hold” rating to a “strong sell” rating in a research report on Thursday, May 4th. Cowen and Company reaffirmed an “outperform” rating and issued a $19.00 target price (up from $17.00) on shares of Cytokinetics, in a research report on Saturday, April 29th. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $25.00 target price on shares of Cytokinetics, in a research report on Tuesday, April 25th.
Shares of Cytokinetics, (NASDAQ:CYTK) traded up 1.96% during midday trading on Tuesday, hitting $13.00. The company’s stock had a trading volume of 168,977 shares. Cytokinetics, has a 1-year low of $8.51 and a 1-year high of $17.20. The company has a market cap of $586.08 million, a P/E ratio of 175.68 and a beta of 1.97. The company has a 50-day moving average price of $13.99 and a 200 day moving average price of $12.72.
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In other Cytokinetics, news, CEO Robert I. Blum sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, July 3rd. The stock was sold at an average price of $12.14, for a total transaction of $60,700.00. Following the completion of the sale, the chief executive officer now directly owns 88,385 shares of the company’s stock, valued at approximately $1,072,993.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 7.20% of the company’s stock.
A number of hedge funds have recently modified their holdings of CYTK. 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 worth $63,173,000 after buying an additional 136,758 shares during the last quarter. A.R.T. Advisors LLC acquired a new position in shares of Cytokinetics, during the fourth quarter worth $394,000. Norges Bank acquired a new position in shares of Cytokinetics, during the fourth quarter worth $976,000. Teachers Advisors LLC increased its position in shares of Cytokinetics, by 4.0% in the fourth quarter. Teachers Advisors LLC now owns 53,278 shares of the biopharmaceutical company’s stock worth $647,000 after buying an additional 2,025 shares during the last quarter. Finally, Acadian Asset Management LLC acquired a new position in shares of Cytokinetics, during the first quarter worth $4,302,000. 58.46% of the stock is owned by hedge funds and other institutional investors.
Cytokinetics, Company Profile
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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