Zacks: Brokerages Expect Cytokinetics, Inc. (CYTK) Will Announce Earnings of -$0.71 Per Share

Wall Street analysts expect that Cytokinetics, Inc. (NASDAQ:CYTK) will announce earnings of ($0.71) per share for the current fiscal quarter, according to Zacks Investment Research. Two analysts have issued estimates for Cytokinetics’ earnings, with the highest EPS estimate coming in at ($0.33) and the lowest estimate coming in at ($0.93). Cytokinetics reported earnings of $0.16 per share during the same quarter last year, which indicates a negative year over year growth rate of 543.8%. The business is scheduled to announce its next earnings results on Thursday, February 15th.

On average, analysts expect that Cytokinetics will report full-year earnings of ($2.40) per share for the current financial year, with EPS estimates ranging from ($2.76) to ($2.14). For the next financial year, analysts forecast that the company will report earnings of ($1.74) per share, with EPS estimates ranging from ($2.63) to ($1.11). Zacks’ EPS averages are an average based on a survey of analysts that cover Cytokinetics.

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

Several equities analysts recently weighed in on the stock. Cantor Fitzgerald restated a “hold” rating and set a $10.00 target price on shares of Cytokinetics in a report on Wednesday, January 17th. Needham & Company LLC reiterated a “buy” rating and issued a $22.00 price objective on shares of Cytokinetics in a report on Sunday, October 29th. JMP Securities reiterated an “outperform” rating and issued a $13.00 price objective (down previously from $17.00) on shares of Cytokinetics in a report on Tuesday, November 21st. They noted that the move was a valuation call. HC Wainwright set a $20.00 price objective on shares of Cytokinetics and gave the stock a “buy” rating in a report on Friday, January 19th. Finally, TheStreet lowered shares of Cytokinetics from a “c” rating to a “d” rating in a report on Friday, October 27th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and ten have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $17.91.

Cytokinetics (CYTK) traded down $0.15 during trading hours on Friday, hitting $9.80. 284,912 shares of the company traded hands, compared to its average volume of 461,850. The company has a debt-to-equity ratio of 0.14, a current ratio of 7.60 and a quick ratio of 7.60. The firm has a market cap of $528.07, a price-to-earnings ratio of -5.90 and a beta of 1.61. Cytokinetics has a 1-year low of $7.00 and a 1-year high of $17.20.

In other Cytokinetics news, CEO Robert I. Blum sold 5,000 shares of the company’s stock in a transaction dated Wednesday, November 1st. The shares were sold at an average price of $13.51, for a total value of $67,550.00. Following the completion of the transaction, the chief executive officer now owns 70,180 shares in the company, valued at approximately $948,131.80. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Caryn Gordon Mcdowell sold 4,260 shares of the company’s stock in a transaction dated Thursday, November 2nd. The stock was sold at an average price of $12.94, for a total transaction of $55,124.40. Following the completion of the transaction, the insider now owns 17,982 shares of the company’s stock, valued at approximately $232,687.08. The disclosure for this sale can be found here. In the last 90 days, insiders sold 19,290 shares of company stock valued at $245,084. 7.20% of the stock is owned by insiders.

Hedge funds and other institutional investors have recently bought and sold shares of the business. Birchview Capital LP bought a new position in shares of Cytokinetics in the third quarter valued at approximately $145,000. Piedmont Investment Advisors LLC bought a new position in shares of Cytokinetics in the third quarter valued at approximately $159,000. Dynamic Technology Lab Private Ltd bought a new position in shares of Cytokinetics in the second quarter valued at approximately $177,000. Fox Run Management L.L.C. bought a new position in shares of Cytokinetics in the fourth quarter valued at approximately $181,000. Finally, GSA Capital Partners LLP bought a new position in shares of Cytokinetics in the third 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.

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