Wall Street brokerages expect that Cytokinetics, Inc. (NASDAQ:CYTK) will report $4.83 million in sales for the current quarter, Zacks Investment Research reports. Two analysts have made estimates for Cytokinetics’ earnings. The lowest sales estimate is $3.15 million and the highest is $6.50 million. Cytokinetics reported sales of $33.14 million during the same quarter last year, which indicates a negative year over year growth rate of 85.4%. The business is expected to announce its next earnings report on Thursday, February 15th.

On average, analysts expect that Cytokinetics will report full year sales of $4.83 million for the current fiscal year, with estimates ranging from $16.50 million to $26.90 million. For the next financial year, analysts forecast that the business will report sales of $29.63 million per share, with estimates ranging from $20.40 million to $44.00 million. Zacks’ sales averages are an average based on a survey of research analysts that follow Cytokinetics.

Cytokinetics (NASDAQ:CYTK) last issued its earnings results on Thursday, October 26th. The biopharmaceutical company reported ($0.60) earnings per share for the quarter, topping the consensus estimate of ($0.64) by $0.04. Cytokinetics had a negative net margin of 172.27% and a negative return on equity of 62.64%. The company had revenue of $6.18 million for the quarter, compared to analyst estimates of $5.35 million.

Several analysts have recently commented on CYTK shares. HC Wainwright reiterated a “buy” rating and issued a $26.00 price target on shares of Cytokinetics in a research report on Friday, October 27th. Needham & Company LLC lowered shares of Cytokinetics from a “strong-buy” rating to a “buy” rating and lowered their price target for the company from $22.00 to $12.00 in a research report on Wednesday, November 29th. Morgan Stanley reiterated an “overweight” rating and issued a $17.00 price target (down from $25.00) on shares of Cytokinetics in a research report on Wednesday, November 22nd. ValuEngine lowered shares of Cytokinetics from a “hold” rating to a “sell” rating in a research report on Tuesday, November 21st. Finally, Seaport Global Securities reiterated a “buy” rating and issued a $24.00 price target on shares of Cytokinetics in a research report on Friday, October 6th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and ten have given a buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $17.64.

Cytokinetics (NASDAQ CYTK) opened at $8.85 on Friday. 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 has a 1 year low of $7.00 and a 1 year high of $17.20. The firm has a market cap of $476.88, a PE ratio of -5.33 and a beta of 1.61.

In related news, CEO Robert I. Blum sold 5,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 1st. The shares were sold at an average price of $13.51, for a total transaction of $67,550.00. Following the transaction, the chief executive officer now owns 70,180 shares of the company’s stock, valued at $948,131.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Caryn Gordon Mcdowell sold 4,260 shares of the company’s stock in a transaction that occurred on Thursday, November 2nd. The shares were sold at an average price of $12.94, for a total transaction of $55,124.40. Following the transaction, the insider now directly owns 17,982 shares in the company, valued at approximately $232,687.08. The disclosure for this sale can be found here. Insiders have sold 16,581 shares of company stock worth $220,703 in the last three months. Insiders own 7.20% of the company’s stock.

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. lifted its stake in shares of Cytokinetics by 59.9% during the second quarter. Vanguard Group Inc. now owns 3,117,496 shares of the biopharmaceutical company’s stock valued at $37,721,000 after buying an additional 1,168,151 shares during the period. Janus Henderson Group PLC lifted its stake in shares of Cytokinetics by 3.5% during the third quarter. Janus Henderson Group PLC now owns 2,778,605 shares of the biopharmaceutical company’s stock valued at $40,290,000 after buying an additional 93,675 shares during the period. State Street Corp lifted its stake in shares of Cytokinetics by 79.6% during the second quarter. State Street Corp now owns 1,674,335 shares of the biopharmaceutical company’s stock valued at $20,259,000 after buying an additional 741,909 shares during the period. Pinnacle Associates Ltd. purchased a new position in shares of Cytokinetics during the third quarter valued at approximately $14,628,000. Finally, Citigroup Inc. lifted its stake in shares of Cytokinetics by 9.9% during the second quarter. Citigroup Inc. now owns 800,471 shares of the biopharmaceutical company’s stock valued at $9,686,000 after buying an additional 71,811 shares during the period. 73.61% of the stock is currently owned by institutional investors and hedge funds.

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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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Earnings History and Estimates for Cytokinetics (NASDAQ:CYTK)

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