Brokerage houses anticipate Cytokinetics, Incorporated (NASDAQ:CYTK) to report EPS of -$0.89

Wall Street analysts expect Cytokinetics, Incorporated (NASDAQ:CYTK) to post earnings per share of ($0.89) for the current quarter, Zacks reports. Five analysts have made earnings estimates for Cytokinetics, with the highest EPS estimate being $0.81 and the lowest estimate $0.99. Cytokinetics posted earnings of ($0.62) per share in the same quarter last year, suggesting a negative year-over-year growth rate of 43.5%. The company is due to release its next earnings report on Thursday, February 24.

According to Zacks, analysts expect Cytokinetics to report annual earnings of $3.27 per share for the current year, with EPS estimates ranging from $3.44 to $3.14. For the next fiscal year, analysts expect the company to post earnings of ($3.47) per share, with EPS estimates ranging from ($4.29) to ($2.53). Zacks Investment Research EPS averages are an average based on a survey of research companies that provide coverage for cytokinetics.

Cytokinetics Inc (NASDAQ:CYTK) last announced its results on Wednesday, November 3. The biopharmaceutical company reported ($0.95) earnings per share for the quarter, missing the consensus estimate of ($0.75) by ($0.20). Cytokinetics had a negative net margin of 1,061.13% and a negative return on equity of 204.75%. The company posted revenue of $5.44 million for the quarter, versus a consensus estimate of $5.46 million. In the same quarter of the previous year, the company achieved EPS of ($0.05).

CYTK has been the subject of a number of recent research reports. Cantor Fitzgerald raised his price target on Cytokinetics from $48.00 to $57.00 and gave the stock an “overweight” rating in a Tuesday, October 12 report. Zacks Investment Research upgraded Cytokinetics from a “hold” rating to a “buy” rating and set a price target of $40.00 on the stock in a research report on Tuesday, January 11. HC Wainwright raised its price target on Cytokinetics from $62.00 to $69.00 and gave the stock a “buy” rating in a Tuesday, December 21 research report. Morgan Stanley raised its price target on Cytokinetics from $38.00 to $45.00 and gave the stock an “overweight” rating in a Friday, Oct. 8 research report. Finally, Mizuho raised its price target on Cytokinetics from $45.00 to $54.00 and gave the stock a “buy” rating in a Wednesday, Dec. 1 research report. Fifteen investment analysts have rated the stock with a buy rating. Based on data from MarketBeat, the company currently has an average rating of “Buy” and an average price target of $53.87.

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NASDAQ:CYTK shares opened at $33.70 on Friday. The company has a 50-day moving average price of $37.00 and a 200-day moving average price of $35.27. The company has a quick ratio of 6.12, a current ratio of 6.12 and a leverage ratio of 0.50. The company has a market capitalization of $2.83 billion, a price-earnings ratio of -10.91 and a beta of 1.36. Cytokinetics has a 12-month low of $17.72 and a 12-month high of $47.90.

Separately, insider David Cragg sold 45,000 shares of the company in a trade on Tuesday, November 9. The stock was sold at an average price of $41.76, for a total transaction of $1,879,200.00. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Additionally, director Wendall Wierenga sold 4,166 shares of the company in a transaction on Monday, December 27. The stock was sold at an average price of $44.37, for a total value of $184,845.42. The disclosure of this sale can be found here. Insiders sold a total of 148,832 shares of the company worth $6,093,644 in the past 90 days. 5.70% of the shares are held by company insiders.

Institutional investors and hedge funds have recently increased or reduced their stakes in the company. First Horizon Advisors Inc. increased its stake in shares of Cytokinetics by 1,827.1% in Q3. First Horizon Advisors Inc. now owns 925 shares of the biopharmaceutical company valued at $43,000 after purchasing an additional 877 shares during the period. Paragon Capital Management Ltd acquired a new stake in shares of Cytokinetics in Q4 worth approximately $47,000. Penserra Capital Management LLC increased its stake in shares of Cytokinetics by 16.8% in Q3. Penserra Capital Management LLC now owns 1,910 shares of the biopharmaceutical company valued at $68,000 after purchasing an additional 275 shares during the period. First Mercantile Trust Co. acquired a new stake in shares of Cytokinetics in Q3 valued at approximately $86,000. Finally, Advisor Group Holdings Inc. increased its stake in shares of Cytokinetics by 23.4% in the 4th quarter. Advisor Group Holdings Inc. now owns 5,163 shares of the biopharmaceutical company valued at $235,000 after purchasing an additional 979 shares during the period.

Cytokinetics Company Profile

Cytokinetics, Inc operates as a biopharmaceutical company. The company is focused on the discovery and development of muscle enhancers as a potential treatment for debilitating diseases. It is conducting a phase 2 clinical trial program for tirasemtiv, including a phase 2b clinical trial in patients with ALS, known as BENEFIT-ALS (Blinded Evaluation of Neuromuscular Effects and Functional Improvement with Tirasemtiv in ALS).

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