Cytokinetics, Incorporated (NASDAQ: CYTK) Receives Consensus “Buy” Rating from Analysts

Cytokinetics, Incorporated (NASDAQ:CYTK – Get Rating) received a consensus “Buy” recommendation from the sixteen analysts who cover the company, Marketbeat reports. One equity research analyst rated the stock with a sell recommendation, another assigned a hold recommendation and thirteen gave the company a buy recommendation. The 12-month average price target among brokerages that have reported on the stock over the past year is $55.38.

A number of research analysts have published reports on the company. Zacks Investment Research upgraded Cytokinetics from a “buy” rating to a “hold” rating in a Monday, February 21 research report. Cantor Fitzgerald cut his price target on Cytokinetics from $57.00 to $53.00 in a Thursday, February 17 report. Mizuho raised its price target on Cytokinetics from $45.00 to $54.00 and gave the stock a “buy” rating in a report on Wednesday, Dec. 1. Goldman Sachs Group took over the coverage of cytokinetics in a Friday, Jan. 28, report. They have set a “buy” rating and a price target of $74.00 on the stock. Finally, 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 report.

Cytokinetics stock opened at $35.79 on Monday. The stock has a fifty-day moving average of $36.09 and a 200-day moving average of $36.19. The stock has a market capitalization of $3.04 billion, a P/E ratio of -12.65 and a beta of 1.34. The company has a debt ratio of 0.59, a quick ratio of 6.12 and a current ratio of 7.45. Cytokinetics has a 52 week low of $17.72 and a 52 week high of $47.90.

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Cytokinetics (NASDAQ:CYTK – Get Rating) last released its results on Thursday, February 24. The biopharmaceutical company reported ($0.36) earnings per share (EPS) for the quarter, beating the Zacks consensus estimate of ($0.84) by $0.48. Cytokinetics had a negative return on equity of 149.21% and a negative net margin of 305.72%. The company posted revenue of $55.60 million for the quarter, compared to $5.56 million expected by analysts. In the same quarter a year earlier, the company posted ($0.62) earnings per share. The company’s revenue for the quarter increased 729.9% year over year. On average, research analysts expect Cytokinetics to post earnings per share of -3.79 for the current year.

In a similar vein, Executive Vice President Fady Ibrahim Malik sold 29,166 shares of the company in a trade on Thursday, December 9. The stock was sold at an average price of $36.49, for a total transaction of $1,064,267.34. The sale was disclosed in a filing with the Securities & Exchange Commission, accessible via the SEC’s website. Additionally, CEO Robert I. Blum sold 10,000 shares of the company in a transaction on Monday, February 7. The stock was sold at an average price of $33.86, for a total value of $338,600.00. The disclosure of this sale can be found here. Insiders have sold 78,332 shares of the company worth $3,001,213 in the past ninety days. 5.70% of the shares are held by insiders.

A number of large investors have recently made changes to their positions in CYTK. Barclays PLC increased its stake in shares of Cytokinetics by 26.8% during the 4th quarter. Barclays PLC now owns 105,589 shares in the biopharmaceutical company worth $4,813,000 after acquiring an additional 22,295 shares during the period. Wells Fargo & Company MN increased its stake in shares of Cytokinetics by 43.1% during the 4th quarter. Wells Fargo & Company MN now owns 118,376 shares of the biopharmaceutical company worth $5,396,000 after acquiring 35,643 additional shares during the period. EFG Asset Management North America Corp. bought a new position in shares of Cytokinetics during the 4th quarter for a value of $1,664,000. Allianz Asset Management GmbH purchased a new stock position in Cytokinetics during Q4 for a value of $6,525,000. Finally, California State Teachers Retirement System increased its stake in shares of Cytokinetics by 3.3% during the 4th quarter. California State Teachers Retirement System now owns 106,724 shares of the biopharmaceutical company worth $4,864,000 after acquiring 3,443 additional shares during the period.

Cytokinetics Company Profile (Get a rating)

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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Analyst Recommendations for Cytokinetics (NASDAQ: CYTK)

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