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

Shares of Cytokinetics, Incorporated (NASDAQ:CYTK) have received a consensus recommendation of “Moderate Buy” from the eighteen analysts that are currently covering the stock, MarketBeat reports. Two research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating on the company. The average 1-year price objective among analysts that have covered the stock in the last year is $82.00.

A number of equities research analysts recently commented on the stock. Citigroup assumed coverage on shares of Cytokinetics in a report on Friday, February 7th. They set a “buy” rating and a $86.00 price target for the company. Stifel Nicolaus assumed coverage on shares of Cytokinetics in a report on Wednesday, January 22nd. They set a “buy” rating and a $80.00 price target for the company. Royal Bank of Canada upped their price target on shares of Cytokinetics from $80.00 to $82.00 and gave the company an “outperform” rating in a report on Wednesday, December 18th. Mizuho upped their price target on shares of Cytokinetics from $99.00 to $103.00 and gave the company an “outperform” rating in a report on Thursday, November 21st. Finally, Needham & Company LLC reiterated a “buy” rating and set a $72.00 price target on shares of Cytokinetics in a report on Thursday, February 6th.

Insider Activity at Cytokinetics

In other Cytokinetics news, CEO Robert I. Blum sold 12,648 shares of the firm’s stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $44.38, for a total transaction of $561,318.24. Following the completion of the sale, the chief executive officer now directly owns 326,533 shares in the company, valued at approximately $14,491,534.54. This trade represents a 3.73 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Fady Ibraham Malik sold 2,000 shares of the firm’s stock in a transaction dated Tuesday, January 7th. The shares were sold at an average price of $49.32, for a total transaction of $98,640.00. Following the sale, the executive vice president now owns 116,071 shares of the company’s stock, valued at approximately $5,724,621.72. This represents a 1.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 43,834 shares of company stock valued at $1,949,275 in the last three months. Company insiders own 3.40% of the company’s stock.

Institutional Trading of Cytokinetics

Institutional investors and hedge funds have recently bought and sold shares of the company. Jones Financial Companies Lllp increased its stake in Cytokinetics by 189.8% during the 4th quarter. Jones Financial Companies Lllp now owns 571 shares of the biopharmaceutical company’s stock valued at $27,000 after purchasing an additional 374 shares in the last quarter. Centricity Wealth Management LLC bought a new stake in shares of Cytokinetics in the fourth quarter worth approximately $29,000. AlphaQuest LLC grew its stake in shares of Cytokinetics by 113,500.0% in the fourth quarter. AlphaQuest LLC now owns 1,136 shares of the biopharmaceutical company’s stock worth $53,000 after acquiring an additional 1,135 shares during the period. J.Safra Asset Management Corp grew its stake in shares of Cytokinetics by 62.1% in the fourth quarter. J.Safra Asset Management Corp now owns 1,751 shares of the biopharmaceutical company’s stock worth $83,000 after acquiring an additional 671 shares during the period. Finally, Blue Trust Inc. grew its stake in shares of Cytokinetics by 85.8% in the fourth quarter. Blue Trust Inc. now owns 1,823 shares of the biopharmaceutical company’s stock worth $86,000 after acquiring an additional 842 shares during the period.

Cytokinetics Trading Up 1.2 %

Shares of CYTK opened at $44.91 on Tuesday. The firm has a market cap of $5.32 billion, a price-to-earnings ratio of -8.35 and a beta of 0.95. The company has a debt-to-equity ratio of 5.93, a quick ratio of 9.28 and a current ratio of 9.28. Cytokinetics has a fifty-two week low of $40.53 and a fifty-two week high of $75.71. The firm has a 50 day moving average price of $46.26 and a 200-day moving average price of $50.23.

Cytokinetics (NASDAQ:CYTK) last announced its quarterly earnings data on Thursday, February 27th. The biopharmaceutical company reported ($1.26) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.29) by $0.03. The business had revenue of $16.93 million during the quarter, compared to the consensus estimate of $14.26 million. As a group, equities research analysts forecast that Cytokinetics will post -5.24 earnings per share for the current year.

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.