JMP Securities set a $23.00 price target on Cytokinetics (NASDAQ:CYTK) in a research note released on Friday, The Fly reports. The brokerage currently has a buy rating on the biopharmaceutical company’s stock.
A number of other analysts have also recently commented on CYTK. BidaskClub cut Cytokinetics from a strong-buy rating to a buy rating in a research report on Friday, August 16th. Cantor Fitzgerald reaffirmed an overweight rating and set a $20.00 price target (up previously from $14.00) on shares of Cytokinetics in a research report on Friday, September 6th. Zacks Investment Research raised Cytokinetics from a sell rating to a hold rating in a research report on Thursday, September 12th. Needham & Company LLC set a $16.00 price objective on Cytokinetics and gave the company a buy rating in a report on Friday, August 9th. Finally, Morgan Stanley set a $16.00 price objective on Cytokinetics and gave the company a hold rating in a report on Friday, August 9th. Two research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. Cytokinetics has an average rating of Buy and a consensus target price of $18.71.
Shares of CYTK opened at $13.00 on Friday. The stock has a 50-day moving average of $13.23 and a two-hundred day moving average of $10.44. Cytokinetics has a one year low of $5.75 and a one year high of $14.94. The company has a debt-to-equity ratio of 12.35, a quick ratio of 8.42 and a current ratio of 8.42. The stock has a market cap of $739.35 million, a P/E ratio of -6.67 and a beta of 1.64.
Cytokinetics (NASDAQ:CYTK) last issued its quarterly earnings results on Thursday, August 8th. The biopharmaceutical company reported ($0.56) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.50) by ($0.06). Cytokinetics had a negative return on equity of 575.21% and a negative net margin of 308.73%. The firm had revenue of $7.14 million for the quarter, compared to analyst estimates of $6.81 million. Analysts predict that Cytokinetics will post -2 EPS for the current fiscal year.
In other news, CEO Robert I. Blum sold 6,000 shares of the business’s stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $12.64, for a total value of $75,840.00. Following the completion of the transaction, the chief executive officer now owns 250,022 shares of the company’s stock, valued at approximately $3,160,278.08. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In the last three months, insiders sold 16,500 shares of company stock valued at $199,185. Insiders own 5.70% of the company’s stock.
Hedge funds have recently modified their holdings of the company. Everence Capital Management Inc. acquired a new position in shares of Cytokinetics in the 1st quarter valued at about $133,000. SG Americas Securities LLC acquired a new position in shares of Cytokinetics in the 1st quarter valued at about $151,000. Comerica Bank lifted its holdings in shares of Cytokinetics by 3.5% in the 1st quarter. Comerica Bank now owns 54,154 shares of the biopharmaceutical company’s stock valued at $472,000 after buying an additional 1,808 shares during the period. Swiss National Bank lifted its holdings in shares of Cytokinetics by 5.5% in the 2nd quarter. Swiss National Bank now owns 86,600 shares of the biopharmaceutical company’s stock valued at $974,000 after buying an additional 4,500 shares during the period. Finally, Wasatch Advisors Inc. lifted its holdings in shares of Cytokinetics by 29.8% in the 1st quarter. Wasatch Advisors Inc. now owns 3,188,487 shares of the biopharmaceutical company’s stock valued at $25,795,000 after buying an additional 731,682 shares during the period. 74.57% of the stock is owned by institutional investors and hedge funds.
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 in which muscle performance is compromised and/or declining. The company is developing small molecule drug candidates primarily engineered to increase muscle function and contractility.
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