Cytokinetics, Inc. (CYTK) Receives Consensus Recommendation of “Buy” from Analysts

Shares of Cytokinetics, Inc. (NASDAQ:CYTK) have been assigned an average rating of “Buy” from the fourteen research firms that are presently covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and ten have assigned a buy recommendation to the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $18.20.

CYTK has been the subject of several recent analyst reports. Seaport Global Securities reiterated a “buy” rating and set a $24.00 price target on shares of Cytokinetics in a research note on Friday, October 6th. Morgan Stanley reiterated an “overweight” rating and set a $17.00 price target (down previously from $25.00) on shares of Cytokinetics in a research note on Wednesday, November 22nd. Cantor Fitzgerald downgraded Cytokinetics from an “overweight” rating to a “neutral” rating and decreased their price target for the stock from $21.00 to $10.00 in a research note on Wednesday, November 22nd. HC Wainwright decreased their price target on Cytokinetics from $26.00 to $17.00 and set a “buy” rating for the company in a research note on Tuesday, November 21st. Finally, ValuEngine downgraded Cytokinetics from a “hold” rating to a “sell” rating in a research note on Tuesday, November 21st.

Cytokinetics (NASDAQ CYTK) traded down $0.15 on Friday, hitting $9.80. The stock had a trading volume of 290,297 shares, compared to its average volume of 474,601. The company has a market cap of $520.11, a P/E ratio of -5.90 and a beta of 1.61. Cytokinetics has a 52 week low of $7.00 and a 52 week high of $17.20. The company has a debt-to-equity ratio of 0.14, a quick ratio of 7.60 and a current ratio of 7.60.

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

In related news, EVP Fady Ibraham Malik sold 7,321 shares of the stock in a transaction that occurred on Wednesday, November 1st. The stock was sold at an average price of $13.39, for a total transaction of $98,028.19. Following the completion of the sale, the executive vice president now owns 47,540 shares in the company, valued at approximately $636,560.60. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Robert I. Blum sold 5,000 shares of the stock in a transaction that occurred on Wednesday, November 1st. The shares were sold at an average price of $13.51, for a total value of $67,550.00. Following the sale, the chief executive officer now owns 70,180 shares of the company’s stock, valued at approximately $948,131.80. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 19,290 shares of company stock valued at $245,084. 7.20% of the stock is owned by corporate insiders.

A number of large investors have recently made changes to their positions in CYTK. Birchview Capital LP bought a new stake in Cytokinetics during the 3rd quarter valued at approximately $145,000. Piedmont Investment Advisors LLC acquired a new position in Cytokinetics in the 3rd quarter valued at approximately $159,000. Dynamic Technology Lab Private Ltd acquired a new position in Cytokinetics in the 2nd quarter valued at approximately $177,000. Fox Run Management L.L.C. acquired a new position in Cytokinetics in the 4th quarter valued at approximately $181,000. Finally, GSA Capital Partners LLP acquired a new position in Cytokinetics in the 3rd quarter valued at approximately $187,000. Hedge funds and other institutional investors own 75.25% of the company’s stock.

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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.

Analyst Recommendations for Cytokinetics (NASDAQ:CYTK)

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