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

Cytokinetics, Incorporated (NASDAQ:CYTK) has earned a consensus recommendation of “Moderate Buy” from the fifteen brokerages that are presently covering the company, Marketbeat Ratings reports. Four investment analysts have rated the stock with a hold rating and eleven have issued a buy rating on the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $83.93.

Several brokerages recently weighed in on CYTK. JMP Securities restated a “market outperform” rating and issued a $78.00 price objective on shares of Cytokinetics in a report on Wednesday, September 4th. The Goldman Sachs Group downgraded Cytokinetics from a “buy” rating to a “neutral” rating and cut their price target for the company from $85.00 to $60.00 in a research note on Tuesday, August 13th. HC Wainwright reaffirmed a “buy” rating and set a $120.00 price objective on shares of Cytokinetics in a research note on Thursday. Needham & Company LLC reissued a “buy” rating and issued a $72.00 target price on shares of Cytokinetics in a research note on Thursday. Finally, JPMorgan Chase & Co. boosted their target price on Cytokinetics from $65.00 to $71.00 and gave the stock an “overweight” rating in a research report on Thursday, September 5th.

Cytokinetics Stock Performance

Cytokinetics stock opened at $54.97 on Friday. The stock has a 50-day simple moving average of $55.12 and a 200 day simple moving average of $57.45. The stock has a market capitalization of $5.76 billion, a price-to-earnings ratio of -10.18 and a beta of 0.77. The company has a quick ratio of 10.39, a current ratio of 10.39 and a debt-to-equity ratio of 5.93. Cytokinetics has a 12-month low of $30.37 and a 12-month high of $110.25.

Cytokinetics (NASDAQ:CYTK) last released its quarterly earnings results on Thursday, August 8th. The biopharmaceutical company reported ($1.31) EPS for the quarter, missing the consensus estimate of ($1.06) by ($0.25). The firm had revenue of $0.25 million for the quarter, compared to analyst estimates of $7.61 million. During the same quarter in the prior year, the business earned ($1.34) earnings per share. Cytokinetics’s revenue was down 71.3% compared to the same quarter last year. On average, research analysts anticipate that Cytokinetics will post -5.15 earnings per share for the current fiscal year.

Insider Transactions at Cytokinetics

In other Cytokinetics news, EVP Fady Ibraham Malik sold 7,300 shares of the business’s stock in a transaction dated Tuesday, July 23rd. The shares were sold at an average price of $57.02, for a total transaction of $416,246.00. Following the sale, the executive vice president now directly owns 129,004 shares of the company’s stock, valued at $7,355,808.08. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. In other news, Director B Lynne Parshall sold 5,000 shares of Cytokinetics stock in a transaction on Monday, July 29th. The stock was sold at an average price of $59.84, for a total transaction of $299,200.00. Following the completion of the sale, the director now owns 20,600 shares of the company’s stock, valued at approximately $1,232,704. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Fady Ibraham Malik sold 7,300 shares of the company’s stock in a transaction dated Tuesday, July 23rd. The shares were sold at an average price of $57.02, for a total transaction of $416,246.00. Following the completion of the transaction, the executive vice president now owns 129,004 shares in the company, valued at $7,355,808.08. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 84,584 shares of company stock valued at $4,722,898 over the last three months. Company insiders own 3.40% of the company’s stock.

Institutional Trading of Cytokinetics

Hedge funds and other institutional investors have recently bought and sold shares of the business. J.Safra Asset Management Corp increased its holdings in shares of Cytokinetics by 642.3% during the second quarter. J.Safra Asset Management Corp now owns 527 shares of the biopharmaceutical company’s stock worth $29,000 after purchasing an additional 456 shares during the period. UMB Bank n.a. increased its stake in Cytokinetics by 65.6% during the 3rd quarter. UMB Bank n.a. now owns 601 shares of the biopharmaceutical company’s stock worth $32,000 after acquiring an additional 238 shares during the period. Blue Trust Inc. increased its stake in Cytokinetics by 225.9% during the 3rd quarter. Blue Trust Inc. now owns 981 shares of the biopharmaceutical company’s stock worth $53,000 after acquiring an additional 680 shares during the period. EntryPoint Capital LLC acquired a new position in Cytokinetics in the 1st quarter valued at $74,000. Finally, Bessemer Group Inc. lifted its position in shares of Cytokinetics by 25,100.0% during the 1st quarter. Bessemer Group Inc. now owns 1,260 shares of the biopharmaceutical company’s stock valued at $88,000 after acquiring an additional 1,255 shares during the period.

About Cytokinetics

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.