Shares of Cytokinetics, Inc. (NASDAQ:CYTK) have been assigned an average rating of “Buy” from the nine ratings firms that are presently covering the firm, Marketbeat.com reports. Four investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $21.50.
Several equities research analysts recently commented on the company. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $20.00 price objective (up from $14.00) on shares of Cytokinetics in a research report on Friday, September 6th. ValuEngine cut Cytokinetics from a “buy” rating to a “hold” rating in a research report on Wednesday, October 2nd. JMP Securities set a $23.00 price objective on Cytokinetics and gave the company a “buy” rating in a research report on Friday, September 13th. BidaskClub cut Cytokinetics from a “buy” rating to a “hold” rating in a research report on Tuesday, October 1st. Finally, HC Wainwright reaffirmed a “buy” rating and set a $26.00 price objective on shares of Cytokinetics in a research report on Friday, October 4th.
In other Cytokinetics news, CEO Robert I. Blum sold 6,000 shares of the stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $12.74, for a total value of $76,440.00. Following the transaction, the chief executive officer now owns 244,022 shares of the company’s stock, valued at $3,108,840.28. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders have sold 22,500 shares of company stock worth $271,575 over the last ninety days. 5.70% of the stock is currently owned by insiders.
A number of hedge funds have recently bought and sold shares of CYTK. FMR LLC lifted its holdings in Cytokinetics by 3.9% in the first quarter. FMR LLC now owns 1,926,824 shares of the biopharmaceutical company’s stock valued at $15,589,000 after acquiring an additional 73,141 shares during the period. Louisiana State Employees Retirement System lifted its holdings in Cytokinetics by 4.9% in the second quarter. Louisiana State Employees Retirement System now owns 21,500 shares of the biopharmaceutical company’s stock valued at $237,000 after acquiring an additional 1,000 shares during the period. Oregon Public Employees Retirement Fund lifted its holdings in Cytokinetics by 8.0% in the second quarter. Oregon Public Employees Retirement Fund now owns 22,889 shares of the biopharmaceutical company’s stock valued at $258,000 after acquiring an additional 1,700 shares during the period. State of Alaska Department of Revenue lifted its holdings in Cytokinetics by 6.3% in the second quarter. State of Alaska Department of Revenue now owns 19,608 shares of the biopharmaceutical company’s stock valued at $220,000 after acquiring an additional 1,170 shares during the period. Finally, Arizona State Retirement System lifted its holdings in Cytokinetics by 6.1% in the second quarter. Arizona State Retirement System now owns 89,538 shares of the biopharmaceutical company’s stock valued at $1,007,000 after acquiring an additional 5,139 shares during the period. 76.13% of the stock is currently owned by institutional investors.
Shares of NASDAQ CYTK traded down $0.07 during trading on Friday, reaching $8.20. The company had a trading volume of 5,309,400 shares, compared to its average volume of 528,164. Cytokinetics has a 12-month low of $5.75 and a 12-month high of $14.94. The stock has a market cap of $654.04 million, a PE ratio of -4.21 and a beta of 1.54. The business’s 50-day moving average is $11.54 and its 200 day moving average is $11.39. The company has a quick ratio of 8.42, a current ratio of 8.20 and a debt-to-equity ratio of 12.35.
Cytokinetics (NASDAQ:CYTK) last released its quarterly earnings data on Thursday, October 31st. The biopharmaceutical company reported ($0.50) EPS for the quarter, beating the consensus estimate of ($0.56) by $0.06. Cytokinetics had a negative return on equity of 10,351.99% and a negative net margin of 378.70%. The company had revenue of $6.06 million for the quarter, compared to analysts’ expectations of $7.80 million. On average, analysts anticipate that Cytokinetics will post -2.02 earnings per share for the current year.
Cytokinetics, Incorporated, a late-stage biopharmaceutical company, focuses on discovering, developing, and commercializing muscle activators and inhibitors as potential treatments for debilitating diseases in which muscle performance is compromised and/or declining. The company is developing small molecule drug candidates primarily engineered to increase muscle function and contractility.
Recommended Story: Return on Equity (ROE)
Receive News & Ratings for Cytokinetics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cytokinetics and related companies with MarketBeat.com's FREE daily email newsletter.