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

Shares of Cytokinetics, Incorporated (NASDAQ:CYTK) have been assigned a consensus recommendation of “Moderate Buy” from the sixteen analysts that are presently covering the company, Marketbeat Ratings reports. Three research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have issued a strong buy rating on the company. The average 12-month price target among brokerages that have covered the stock in the last year is $73.71.

A number of brokerages have recently issued reports on CYTK. Bank of America dropped their price target on Cytokinetics from $62.00 to $54.00 and set a “neutral” rating for the company in a research report on Tuesday, April 15th. Citigroup dropped their price target on Cytokinetics from $86.00 to $80.00 and set a “buy” rating for the company in a research report on Wednesday, May 7th. HC Wainwright reissued a “buy” rating and issued a $120.00 price target on shares of Cytokinetics in a report on Monday, April 21st. JMP Securities reissued a “market outperform” rating and issued a $78.00 price target on shares of Cytokinetics in a report on Thursday, April 10th. Finally, Royal Bank of Canada decreased their price target on shares of Cytokinetics from $82.00 to $80.00 and set an “outperform” rating on the stock in a report on Wednesday, May 7th.

Cytokinetics Stock Performance

Cytokinetics stock opened at $30.88 on Friday. The firm’s 50 day simple moving average is $36.19 and its 200 day simple moving average is $43.58. The company has a current ratio of 9.28, a quick ratio of 9.28 and a debt-to-equity ratio of 5.93. The firm has a market capitalization of $3.69 billion, a PE ratio of -5.74 and a beta of 0.81. Cytokinetics has a 1-year low of $29.31 and a 1-year high of $61.38.

Cytokinetics (NASDAQ:CYTK) last posted its earnings results on Tuesday, May 6th. The biopharmaceutical company reported ($1.36) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.41) by $0.05. The firm had revenue of $1.60 million for the quarter, compared to the consensus estimate of $2.77 million. The business’s revenue was up 89.1% on a year-over-year basis. During the same period last year, the company posted ($1.33) EPS. As a group, analysts expect that Cytokinetics will post -5.24 earnings per share for the current fiscal year.

Insider Activity at Cytokinetics

In related news, EVP Andrew Callos sold 2,775 shares of the stock in a transaction on Monday, March 17th. The shares were sold at an average price of $44.38, for a total transaction of $123,154.50. Following the transaction, the executive vice president now owns 34,888 shares of the company’s stock, valued at approximately $1,548,329.44. This trade represents a 7.37% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Robert I. Blum sold 16,970 shares of the stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $43.44, for a total transaction of $737,176.80. Following the transaction, the chief executive officer now directly owns 364,181 shares in the company, valued at approximately $15,820,022.64. This represents a 4.45% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 94,816 shares of company stock valued at $3,850,385. Insiders own 2.70% of the company’s stock.

Hedge Funds Weigh In On Cytokinetics

Several institutional investors and hedge funds have recently made changes to their positions in the business. Strs Ohio bought a new position in shares of Cytokinetics during the 1st quarter valued at $418,000. Intech Investment Management LLC boosted its position in Cytokinetics by 33.8% during the 1st quarter. Intech Investment Management LLC now owns 67,261 shares of the biopharmaceutical company’s stock valued at $2,703,000 after buying an additional 16,988 shares during the period. Bayforest Capital Ltd boosted its position in Cytokinetics by 336.5% during the 1st quarter. Bayforest Capital Ltd now owns 7,372 shares of the biopharmaceutical company’s stock valued at $296,000 after buying an additional 5,683 shares during the period. Woodline Partners LP boosted its position in Cytokinetics by 68.2% during the 1st quarter. Woodline Partners LP now owns 212,303 shares of the biopharmaceutical company’s stock valued at $8,532,000 after buying an additional 86,102 shares during the period. Finally, Zimmer Partners LP boosted its position in Cytokinetics by 116.1% during the 1st quarter. Zimmer Partners LP now owns 82,132 shares of the biopharmaceutical company’s stock valued at $3,301,000 after buying an additional 44,132 shares during the period.

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.