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

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

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

Several research firms have commented on CYTK. Cantor Fitzgerald restated a “hold” rating and issued a $10.00 target price on shares of Cytokinetics in a research report on Wednesday, January 17th. Needham & Company LLC cut shares of Cytokinetics from a “strong-buy” rating to a “buy” rating and decreased their target price for the stock from $22.00 to $12.00 in a research report on Wednesday, November 29th. JMP Securities restated an “outperform” rating and issued a $13.00 target price (down previously from $17.00) on shares of Cytokinetics in a research report on Tuesday, November 21st. They noted that the move was a valuation call. TheStreet lowered shares of Cytokinetics from a “c” rating to a “d” rating in a research note on Friday, October 27th. Finally, Piper Jaffray Companies reaffirmed an “overweight” rating and issued a $18.00 price target on shares of Cytokinetics in a research note on Tuesday, November 21st. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and ten have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $17.91.

Several large investors have recently modified their holdings of CYTK. Two Sigma Investments LP lifted its stake in Cytokinetics by 258.1% during the fourth quarter. Two Sigma Investments LP now owns 113,902 shares of the biopharmaceutical company’s stock valued at $928,000 after purchasing an additional 82,093 shares during the last quarter. Two Sigma Advisers LP lifted its stake in Cytokinetics by 62.6% during the fourth quarter. Two Sigma Advisers LP now owns 74,800 shares of the biopharmaceutical company’s stock valued at $610,000 after purchasing an additional 28,800 shares during the last quarter. Ellington Management Group LLC acquired a new stake in Cytokinetics during the fourth quarter valued at approximately $128,000. Goldman Sachs Group Inc. lifted its stake in Cytokinetics by 41.8% during the fourth quarter. Goldman Sachs Group Inc. now owns 417,597 shares of the biopharmaceutical company’s stock valued at $3,403,000 after purchasing an additional 123,031 shares during the last quarter. Finally, BVF Inc. IL lifted its stake in Cytokinetics by 361.1% during the fourth quarter. BVF Inc. IL now owns 5,721,888 shares of the biopharmaceutical company’s stock valued at $46,633,000 after purchasing an additional 4,480,867 shares during the last quarter. 74.06% of the stock is owned by institutional investors.

Cytokinetics (CYTK) traded up $0.27 during midday trading on Wednesday, reaching $9.00. 264,563 shares of the company’s stock traded hands, compared to its average volume of 360,373. Cytokinetics has a 1 year low of $7.00 and a 1 year 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. The company has a market cap of $479.57, a PE ratio of -5.26 and a beta of 1.03.

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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.

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Earnings History and Estimates for Cytokinetics (NASDAQ:CYTK)

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