Analysts Set Cytokinetics, Incorporated (NASDAQ:CYTK) PT at $82.00

Cytokinetics, Incorporated (NASDAQ:CYTK) has earned a consensus recommendation of “Moderate Buy” from the eighteen research firms that are presently covering the stock, Marketbeat.com reports. 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. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $82.00.

A number of brokerages have weighed in on CYTK. Citigroup started coverage on Cytokinetics in a research note on Friday, February 7th. They issued a “buy” rating and a $86.00 target price on the stock. Evercore ISI raised shares of Cytokinetics to a “strong-buy” rating in a research note on Friday, February 7th. JMP Securities reaffirmed a “market outperform” rating and set a $78.00 price objective on shares of Cytokinetics in a report on Thursday, April 10th. Stifel Nicolaus initiated coverage on Cytokinetics in a research note on Wednesday, January 22nd. They set a “buy” rating and a $80.00 price target for the company. Finally, Morgan Stanley set a $67.00 price objective on Cytokinetics in a research report on Friday, March 7th.

Insiders Place Their Bets

In other news, EVP Fady Ibraham Malik sold 2,000 shares of the business’s stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $48.06, for a total value of $96,120.00. Following the sale, the executive vice president now directly owns 116,071 shares of the company’s stock, valued at $5,578,372.26. The trade was a 1.69 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Andrew Callos sold 2,886 shares of Cytokinetics stock in a transaction on Monday, April 7th. The shares were sold at an average price of $35.78, for a total value of $103,261.08. Following the transaction, the executive vice president now owns 64,689 shares of the company’s stock, valued at $2,314,572.42. The trade was a 4.27 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 65,170 shares of company stock worth $2,766,739 over the last three months. Company insiders own 3.40% of the company’s stock.

Hedge Funds Weigh In On Cytokinetics

A number of hedge funds have recently added to or reduced their stakes in the company. Jones Financial Companies Lllp raised its position in Cytokinetics by 189.8% in the 4th quarter. Jones Financial Companies Lllp now owns 571 shares of the biopharmaceutical company’s stock worth $27,000 after buying an additional 374 shares during the last quarter. UMB Bank n.a. raised its holdings in shares of Cytokinetics by 91.4% during the first quarter. UMB Bank n.a. now owns 1,156 shares of the biopharmaceutical company’s stock valued at $46,000 after purchasing an additional 552 shares during the last quarter. Retirement Systems of Alabama lifted its position in Cytokinetics by 0.4% during the fourth quarter. Retirement Systems of Alabama now owns 143,495 shares of the biopharmaceutical company’s stock valued at $6,750,000 after purchasing an additional 565 shares during the period. Arizona State Retirement System boosted its holdings in Cytokinetics by 1.9% in the fourth quarter. Arizona State Retirement System now owns 32,366 shares of the biopharmaceutical company’s stock worth $1,522,000 after purchasing an additional 600 shares during the last quarter. Finally, Inspire Investing LLC grew its holdings in shares of Cytokinetics by 7.8% in the fourth quarter. Inspire Investing LLC now owns 8,504 shares of the biopharmaceutical company’s stock worth $400,000 after acquiring an additional 616 shares during the period.

Cytokinetics Stock Up 3.0 %

CYTK stock opened at $39.81 on Friday. Cytokinetics has a twelve month low of $32.74 and a twelve month high of $71.60. The firm has a market capitalization of $4.74 billion, a PE ratio of -7.40 and a beta of 0.94. 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 50-day simple moving average of $42.95 and a two-hundred day simple moving average of $48.06.

Cytokinetics (NASDAQ:CYTK) last announced its quarterly earnings results on Thursday, February 27th. The biopharmaceutical company reported ($1.26) EPS for the quarter, beating 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 predict that Cytokinetics will post -5.24 EPS for the current fiscal year.

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.