Cytokinetics, Incorporated (NASDAQ:CYTK) Receives Average Rating of “Moderate Buy” from Analysts

Cytokinetics, Incorporated (NASDAQ:CYTK) has been assigned a consensus rating of “Moderate Buy” from the seventeen research firms that are covering the company, MarketBeat reports. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $76.6429.

Several research analysts have recently commented on the company. Evercore ISI lifted their target price on Cytokinetics from $60.00 to $80.00 and gave the stock an “outperform” rating in a research report on Wednesday, September 3rd. Needham & Company LLC restated a “buy” rating and set a $72.00 price objective on shares of Cytokinetics in a research report on Tuesday, September 2nd. Citigroup boosted their price target on Cytokinetics from $77.00 to $84.00 and gave the stock a “buy” rating in a research report on Tuesday, September 2nd. Weiss Ratings reissued a “sell (d-)” rating on shares of Cytokinetics in a research note on Wednesday. Finally, Raymond James Financial initiated coverage on Cytokinetics in a research note on Wednesday, July 30th. They issued a “market perform” rating on the stock.

Cytokinetics Stock Down 0.4%

CYTK stock opened at $60.04 on Friday. Cytokinetics has a 52-week low of $29.31 and a 52-week high of $61.48. The stock’s 50 day moving average is $46.02 and its two-hundred day moving average is $39.15. The company has a market capitalization of $7.18 billion, a PE ratio of -11.77 and a beta of 0.67.

Cytokinetics (NASDAQ:CYTK) last posted its quarterly earnings data on Thursday, August 7th. The biopharmaceutical company reported ($1.12) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.34) by $0.22. The business had revenue of $66.77 million for the quarter, compared to analysts’ expectations of $1.95 million. During the same quarter in the prior year, the firm earned ($1.31) earnings per share. Cytokinetics’s revenue for the quarter was up 26727.3% compared to the same quarter last year. As a group, sell-side analysts anticipate that Cytokinetics will post -5.24 EPS for the current year.

Insider Activity at Cytokinetics

In other news, CEO Robert I. Blum sold 5,000 shares of the company’s stock in a transaction dated Wednesday, October 1st. The stock was sold at an average price of $55.05, for a total transaction of $275,250.00. Following the completion of the sale, the chief executive officer owned 368,108 shares in the company, valued at approximately $20,264,345.40. This represents a 1.34% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Edward M. Md Kaye sold 6,757 shares of the business’s stock in a transaction dated Monday, October 6th. The stock was sold at an average price of $60.00, for a total value of $405,420.00. Following the transaction, the director directly owned 9,778 shares of the company’s stock, valued at $586,680. This represents a 40.86% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 52,208 shares of company stock valued at $2,555,581. Company insiders own 2.70% of the company’s stock.

Hedge Funds Weigh In On Cytokinetics

Large investors have recently added to or reduced their stakes in the company. EverSource Wealth Advisors LLC raised its holdings in shares of Cytokinetics by 723.7% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 766 shares of the biopharmaceutical company’s stock worth $25,000 after buying an additional 673 shares in the last quarter. Fifth Third Bancorp raised its stake in Cytokinetics by 42.2% during the 1st quarter. Fifth Third Bancorp now owns 981 shares of the biopharmaceutical company’s stock worth $39,000 after buying an additional 291 shares during the period. Hantz Financial Services Inc. raised its stake in Cytokinetics by 2,872.7% during the 2nd quarter. Hantz Financial Services Inc. now owns 1,308 shares of the biopharmaceutical company’s stock worth $43,000 after buying an additional 1,264 shares during the period. Parallel Advisors LLC raised its stake in shares of Cytokinetics by 500.5% in the 1st quarter. Parallel Advisors LLC now owns 1,099 shares of the biopharmaceutical company’s stock valued at $44,000 after purchasing an additional 916 shares during the period. Finally, GAMMA Investing LLC raised its stake in shares of Cytokinetics by 281.0% in the 1st quarter. GAMMA Investing LLC now owns 1,120 shares of the biopharmaceutical company’s stock valued at $45,000 after purchasing an additional 826 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.