Cytokinetics (CYTK) Expected to Announce Quarterly Earnings on Thursday

Cytokinetics (NASDAQ:CYTK) is expected to be issuing its quarterly earnings data after the market closes on Thursday, February 27th. Analysts expect the company to announce earnings of ($1.29) per share and revenue of $14.26 million for the quarter. Individual that are interested in participating in the company’s earnings conference call can do so using this link.

Cytokinetics Stock Down 3.1 %

CYTK stock opened at $46.65 on Wednesday. Cytokinetics has a one year low of $40.53 and a one year high of $81.36. The stock has a market capitalization of $5.51 billion, a PE ratio of -8.67 and a beta of 0.83. The company has a debt-to-equity ratio of 5.93, a quick ratio of 9.28 and a current ratio of 9.28. The company has a fifty day moving average of $47.25 and a 200-day moving average of $51.41.

Insider Transactions at Cytokinetics

In other Cytokinetics news, CEO Robert I. Blum sold 5,000 shares of the company’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $50.76, for a total value of $253,800.00. Following the completion of the sale, the chief executive officer now directly owns 397,678 shares of the company’s stock, valued at approximately $20,186,135.28. This represents a 1.24 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Fady Ibraham Malik sold 2,000 shares of the company’s stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $45.98, for a total transaction of $91,960.00. Following the completion of the sale, the executive vice president now directly owns 116,071 shares of the company’s stock, valued at $5,336,944.58. The trade was a 1.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 22,822 shares of company stock worth $1,127,848. Insiders own 3.40% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently commented on CYTK shares. Morgan Stanley upgraded shares of Cytokinetics from an “equal weight” rating to an “overweight” rating and reduced their price objective for the company from $70.00 to $67.00 in a research note on Thursday, February 13th. HC Wainwright reiterated a “buy” rating and issued a $120.00 price objective on shares of Cytokinetics in a research note on Tuesday, January 21st. JMP Securities restated a “market outperform” rating and set a $78.00 target price on shares of Cytokinetics in a research report on Friday, February 7th. Stifel Nicolaus began coverage on shares of Cytokinetics in a research report on Wednesday, January 22nd. They set a “buy” rating and a $80.00 target price for the company. Finally, Citigroup began coverage on shares of Cytokinetics in a research report on Friday, February 7th. They set a “buy” rating and a $86.00 target price for the company. Two equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $82.00.

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.