Cytokinetics, Incorporated (NASDAQ:CYTK) was downgraded by investment analysts at ValuEngine from a “hold” rating to a “sell” rating in a report released on Tuesday.

Other equities analysts have also issued reports about the company. HC Wainwright dropped their price target on Cytokinetics, from $26.00 to $17.00 and set a “buy” rating on the stock in a research note on Tuesday. Needham & Company LLC lowered Cytokinetics, from a “strong-buy” rating to a “buy” rating in a research note on Tuesday. Piper Jaffray Companies reaffirmed an “overweight” rating and set a $18.00 target price on shares of Cytokinetics, in a research report on Tuesday. JMP Securities reaffirmed an “outperform” rating and set a $13.00 target price (down from $17.00) on shares of Cytokinetics, in a research report on Tuesday. They noted that the move was a valuation call. Finally, Zacks Investment Research lowered Cytokinetics, from a “buy” rating to a “hold” rating in a research report on Thursday, August 17th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and eleven have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $20.27.

Shares of Cytokinetics, (CYTK) traded down $2.85 on Tuesday, reaching $8.25. The company’s stock had a trading volume of 7,446,330 shares, compared to its average volume of 556,464. Cytokinetics, has a 12-month low of $7.00 and a 12-month high of $17.20. The company has a current ratio of 7.60, a quick ratio of 7.60 and a debt-to-equity ratio of 0.14.

Cytokinetics, (NASDAQ:CYTK) last issued its quarterly earnings results on Thursday, October 26th. The biopharmaceutical company reported ($0.60) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.64) by $0.04. Cytokinetics, had a negative return on equity of 62.64% and a negative net margin of 172.27%. The firm had revenue of $6.18 million for the quarter, compared to analyst estimates of $5.35 million. equities analysts predict that Cytokinetics, will post -2.4 earnings per share for the current year.

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In related news, Director Santo J. Costa sold 5,000 shares of the company’s stock in a transaction on Tuesday, August 29th. The stock was sold at an average price of $14.00, for a total transaction of $70,000.00. Following the completion of the sale, the director now owns 5,000 shares in the company, valued at $70,000. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Bradley Paul Morgan sold 118,330 shares of the company’s stock in a transaction on Thursday, August 31st. The stock was sold at an average price of $15.00, for a total value of $1,774,950.00. Following the sale, the senior vice president now owns 63,107 shares of the company’s stock, valued at approximately $946,605. The disclosure for this sale can be found here. Insiders have sold 178,223 shares of company stock valued at $2,639,239 in the last quarter. 7.20% of the stock is currently owned by corporate insiders.

Large investors have recently made changes to their positions in the business. State of Alaska Department of Revenue bought a new position in Cytokinetics, in the 2nd quarter valued at $109,000. Birchview Capital LP bought a new position in Cytokinetics, in the 3rd quarter valued at $145,000. Municipal Employees Retirement System of Michigan bought a new position in Cytokinetics, in the 2nd quarter valued at $132,000. Piedmont Investment Advisors LLC bought a new position in Cytokinetics, in the 3rd quarter valued at $159,000. Finally, Bank of America Corp DE grew its stake in Cytokinetics, by 36.8% in the 1st quarter. Bank of America Corp DE now owns 12,571 shares of the biopharmaceutical company’s stock valued at $162,000 after purchasing an additional 3,383 shares during the period. Hedge funds and other institutional investors own 71.92% of the company’s stock.

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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Cytokinetics, (NASDAQ:CYTK)

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