Cytokinetics, Incorporated (NASDAQ: CYTK) Receives Consensus “Buy” Recommendation From Brokers
Cytokinetics, Incorporated (NASDAQ:CYTK – Get Rating) received an average rating of “Buy” from the fifteen analysts who currently cover the stock, MarketBeat.com reports. One equity research analyst assigned the stock a sell rating, one assigned a hold rating and ten assigned the company a buy rating. The 1-year average price target among brokerages that updated their coverage on the stock in the past year is $55.92.
Several research companies have recently published reports on CYTK. HC Wainwright reiterated a “buy” rating and set a price target of $75.00 on shares of Cytokinetics in a research note on Tuesday. Zacks Investment Research upgraded Cytokinetics from a “buy” rating to a “hold” rating in a Monday, February 21 report. StockNews.com took over coverage from Cytokinetics in a Thursday, March 31 report. They issued a “sell” rating for the company. Goldman Sachs Group cut its price target on Cytokinetics from $71.00 to $57.00 and set a “buy” rating for the company in a report on Tuesday. Finally, Mizuho reduced its price target on Cytokinetics from $80.00 to $54.00 and set an “na” rating for the company in a Monday, May 16 report.
In other news, Executive Vice Chairman Fady Ibrahim Malik sold 23,148 shares in a trade on Thursday, April 7. The stock was sold at an average price of $42.58, for a total value of $985,641.84. Following the transaction, the executive vice president now owns 168,084 shares of the company, valued at approximately $7,157,016.72. The transaction was disclosed in a document filed with the SEC, which can be accessed on the SEC’s website. Additionally, CEO Robert I. Blum sold 10,000 shares in a trade on Monday, March 21. The shares were sold at an average price of $36.03, for a total value of $360,300.00. The disclosure of this sale can be found here. Insiders sold a total of 179,183 shares of the company worth $6,877,813 during the last quarter. Company insiders hold 5.00% of the company’s shares.
Institutional investors and hedge funds have recently increased or reduced their stakes in the company. 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 Cytokinetics by 16.8% during the third quarter. Penserra Capital Management LLC now owns 1,910 shares of the biopharmaceutical company worth $68,000 after purchasing an additional 275 shares during the period. First Mercantile Trust Co. bought a new position in Cytokinetics during the third quarter worth approximately $86,000. KBC Group NV acquired a new stake in Cytokinetics during the first quarter for a value of approximately $99,000. Finally, Chilton Capital Management LLC acquired a new stake in Cytokinetics during the fourth quarter at a value of approximately $103,000.
Shares of Cytokinetics traded at $2.88 on Friday, hitting $41.87. 728,951 shares of the company were traded, with an average volume of 1,022,700. The stock has a fifty-day moving average price of $38.74 and a 200-day moving average price of $37.73. The company has a market capitalization of $3.59 billion, a price/earnings ratio of -13.00 and a beta of 1.22. The company has a current ratio of 9.33, a quick ratio of 9.33 and a debt ratio of 1.68. Cytokinetics has a fifty-two week low of $17.72 and a fifty-two week high of $47.90.
Cytokinetics (NASDAQ:CYTK – Get Rating) last announced its results on Wednesday, May 4. The biopharmaceutical company reported ($1.02) earnings per share (EPS) for the quarter, missing analyst consensus estimates of ($0.93) by ($0.09). Cytokinetics had a negative return on equity of 163.01% and a negative net margin of 396.22%. The company posted revenue of $1.15 million for the quarter, versus analyst estimates of $4.72 million. During the same period last year, the company made ($0.66) earnings per share. The company’s revenue for the quarter was down 82.5% year over year. On average, stock analysts expect Cytokinetics to post -4.41 earnings per share for the current fiscal year.
About Cytokinetics (Get a rating)
Cytokinetics, Incorporated, a late-stage biopharmaceutical company, is focused on the discovery, development and commercialization of muscle activators and inhibitors as potential treatments for debilitating diseases. The company is developing small molecule drug candidates primarily designed to impact muscle function and contractility.
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