Cytokinetics (NASDAQ:CYTK) Earns “Buy” Rating from HC Wainwright

HC Wainwright reaffirmed their buy rating on shares of Cytokinetics (NASDAQ:CYTK) in a research report sent to investors on Friday morning,Benzinga reports. The firm currently has a $120.00 target price on the biopharmaceutical company’s stock.

Other equities research analysts also recently issued research reports about the company. Stifel Nicolaus started coverage on Cytokinetics in a research report on Wednesday, January 22nd. They set a “buy” rating and a $80.00 price target on the stock. JMP Securities restated a “market outperform” rating and issued a $78.00 target price on shares of Cytokinetics in a research report on Friday, February 7th. Needham & Company LLC reiterated a “buy” rating and set a $72.00 price target on shares of Cytokinetics in a research report on Thursday, February 6th. Citigroup started coverage on shares of Cytokinetics in a report on Friday, February 7th. They issued a “buy” rating and a $86.00 price objective for the company. Finally, Evercore ISI raised shares of Cytokinetics to a “strong-buy” rating in a report on Friday, February 7th. Two analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Cytokinetics currently has a consensus rating of “Moderate Buy” and an average price target of $82.00.

Cytokinetics Trading Down 7.8 %

Shares of CYTK opened at $37.36 on Friday. The business’s 50-day moving average price is $44.93 and its 200-day moving average price is $49.03. The company has a quick ratio of 9.28, a current ratio of 9.28 and a debt-to-equity ratio of 5.93. The stock has a market cap of $4.42 billion, a PE ratio of -6.94 and a beta of 0.94. Cytokinetics has a twelve month low of $36.89 and a twelve month high of $75.71.

Cytokinetics (NASDAQ:CYTK) last released its quarterly earnings results on Thursday, February 27th. The biopharmaceutical company reported ($1.26) earnings per share for the quarter, topping the consensus estimate of ($1.29) by $0.03. The firm had revenue of $16.93 million during the quarter, compared to the consensus estimate of $14.26 million. On average, equities analysts forecast that Cytokinetics will post -5.24 EPS for the current fiscal year.

Insider Activity at Cytokinetics

In related news, CEO Robert I. Blum sold 16,970 shares of the firm’s stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $43.44, for a total transaction of $737,176.80. Following the completion of the sale, the chief executive officer now directly owns 364,181 shares of the company’s stock, valued at approximately $15,820,022.64. This trade represents a 4.45 % decrease in their position. The sale 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 stock in a transaction that occurred on Tuesday, January 7th. The stock was sold at an average price of $49.32, for a total transaction of $98,640.00. Following the transaction, the executive vice president now directly owns 116,071 shares of the company’s stock, valued at $5,724,621.72. The trade was a 1.69 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 59,284 shares of company stock worth $2,578,268. 3.40% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

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