Cytokinetics, Incorporated (NASDAQ:CYTK) Given Consensus Rating of “Moderate Buy” by Brokerages

Shares of Cytokinetics, Incorporated (NASDAQ:CYTK) have been given an average recommendation of “Moderate Buy” by the fifteen ratings firms that are currently covering the firm, Marketbeat.com reports. Two equities research analysts have rated the stock with a hold recommendation and thirteen have assigned a buy recommendation to the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $79.33.

Several equities research analysts recently commented on CYTK shares. StockNews.com cut Cytokinetics from a “hold” rating to a “sell” rating in a research report on Friday, January 5th. Truist Financial reissued a “buy” rating and issued a $86.00 target price on shares of Cytokinetics in a research report on Monday, April 8th. Mizuho dropped their target price on Cytokinetics from $103.00 to $99.00 and set a “buy” rating on the stock in a research report on Wednesday, March 6th. HC Wainwright reissued a “buy” rating and issued a $94.00 target price on shares of Cytokinetics in a research report on Wednesday, February 28th. Finally, Morgan Stanley reissued an “equal weight” rating and issued a $90.00 target price (up from $60.00) on shares of Cytokinetics in a research report on Friday, January 5th.

Insider Transactions at Cytokinetics

In related news, EVP Fady Ibraham Malik sold 32,605 shares of Cytokinetics stock in a transaction that occurred on Tuesday, February 6th. The stock was sold at an average price of $79.30, for a total transaction of $2,585,576.50. Following the sale, the executive vice president now owns 142,973 shares of the company’s stock, valued at approximately $11,337,758.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, EVP Fady Ibraham Malik sold 32,605 shares of Cytokinetics stock in a transaction that occurred on Tuesday, February 6th. The stock was sold at an average price of $79.30, for a total transaction of $2,585,576.50. Following the sale, the executive vice president now owns 142,973 shares of the company’s stock, valued at approximately $11,337,758.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Robert I. Blum sold 12,500 shares of Cytokinetics stock in a transaction that occurred on Wednesday, January 31st. The shares were sold at an average price of $79.57, for a total value of $994,625.00. Following the sale, the chief executive officer now directly owns 441,797 shares in the company, valued at approximately $35,153,787.29. The disclosure for this sale can be found here. Insiders have sold 125,876 shares of company stock valued at $9,269,877 over the last quarter. 3.40% of the stock is currently owned by company insiders.

Institutional Trading of Cytokinetics

A number of large investors have recently added to or reduced their stakes in CYTK. Fifth Third Bancorp increased its stake in Cytokinetics by 94.1% in the 1st quarter. Fifth Third Bancorp now owns 656 shares of the biopharmaceutical company’s stock worth $46,000 after acquiring an additional 318 shares during the last quarter. China Universal Asset Management Co. Ltd. increased its stake in Cytokinetics by 96.4% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 2,463 shares of the biopharmaceutical company’s stock worth $73,000 after acquiring an additional 1,209 shares during the last quarter. GAMMA Investing LLC bought a new stake in Cytokinetics in the 4th quarter worth approximately $80,000. Sage Rhino Capital LLC bought a new stake in Cytokinetics in the 4th quarter worth approximately $204,000. Finally, Caprock Group LLC bought a new stake in Cytokinetics in the 4th quarter worth approximately $216,000.

Cytokinetics Price Performance

Cytokinetics stock opened at $65.34 on Friday. Cytokinetics has a one year low of $25.98 and a one year high of $110.25. The stock has a market capitalization of $6.83 billion, a PE ratio of -11.99 and a beta of 0.68. The business’s fifty day moving average is $69.91 and its 200 day moving average is $59.82.

Cytokinetics (NASDAQ:CYTK) last released its quarterly earnings data on Tuesday, February 27th. The biopharmaceutical company reported ($1.38) EPS for the quarter, missing the consensus estimate of ($1.03) by ($0.35). The company had revenue of $1.70 million during the quarter, compared to the consensus estimate of $7.62 million. During the same quarter in the previous year, the business earned ($1.45) earnings per share. Cytokinetics’s revenue was down 10.5% compared to the same quarter last year. As a group, sell-side analysts expect that Cytokinetics will post -4.5 EPS for the current fiscal year.

Cytokinetics Company Profile

Cytokinetics, Incorporated, a late-stage biopharmaceutical company, focuses on discovering, developing, and commercializing muscle activators and inhibitors as potential treatments for debilitating diseases. The company develops small molecule drug candidates primarily engineered to impact muscle function and contractility.