Cytokinetics (CYTK) Given a $10.00 Price Target at Cantor Fitzgerald

Cytokinetics (NASDAQ:CYTK) received a $10.00 target price from investment analysts at Cantor Fitzgerald in a note issued to investors on Monday. The firm currently has a “hold” rating on the biopharmaceutical company’s stock. Cantor Fitzgerald’s target price points to a potential upside of 16.28% from the company’s previous close.

The analysts wrote, “Robert Califf, M.D. has joined CYTK’s Board of Directors (BoD), adding his expertise in cardiovascular and regulatory domains, we believe.””

Other equities research analysts also recently issued reports about the company. HC Wainwright reiterated a “buy” rating and set a $26.00 target price on shares of Cytokinetics in a report on Friday, October 27th. Needham & Company LLC downgraded Cytokinetics from a “strong-buy” rating to a “buy” rating and dropped their target price for the company from $22.00 to $12.00 in a report on Wednesday, November 29th. TheStreet downgraded Cytokinetics from a “c” rating to a “d” rating in a report on Friday, October 27th. JMP Securities reiterated an “outperform” rating and set a $13.00 target price (down from $17.00) on shares of Cytokinetics in a report on Tuesday, November 21st. They noted that the move was a valuation call. Finally, Piper Jaffray Companies reiterated an “overweight” rating and set a $18.00 target price on shares of Cytokinetics in a report on Tuesday, November 21st. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and ten have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $17.91.

Shares of Cytokinetics (NASDAQ:CYTK) traded up $0.05 during trading hours on Monday, hitting $8.60. The company had a trading volume of 269,334 shares, compared to its average volume of 368,905. The stock has a market cap of $460.71, a P/E ratio of -5.15 and a beta of 1.03. 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.

A number of hedge funds have recently bought and sold shares of CYTK. Schwab Charles Investment Management Inc. increased its holdings in Cytokinetics by 76.1% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 280,205 shares of the biopharmaceutical company’s stock worth $3,391,000 after purchasing an additional 121,109 shares during the last quarter. Swiss National Bank purchased a new stake in Cytokinetics during the 2nd quarter worth approximately $697,000. Alliancebernstein L.P. increased its holdings in Cytokinetics by 65.3% during the 2nd quarter. Alliancebernstein L.P. now owns 43,800 shares of the biopharmaceutical company’s stock worth $530,000 after purchasing an additional 17,300 shares during the last quarter. Teachers Advisors LLC increased its holdings in Cytokinetics by 23.1% during the 2nd quarter. Teachers Advisors LLC now owns 74,275 shares of the biopharmaceutical company’s stock worth $899,000 after purchasing an additional 13,949 shares during the last quarter. Finally, TIAA CREF Investment Management LLC increased its holdings in Cytokinetics by 141.2% during the 2nd quarter. TIAA CREF Investment Management LLC now owns 259,417 shares of the biopharmaceutical company’s stock worth $3,139,000 after purchasing an additional 151,869 shares during the last quarter. Institutional investors own 74.06% 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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