Recent Investment Analysts’ Ratings Changes for Cytokinetics (CYTK)

A number of firms have modified their ratings and price targets on shares of Cytokinetics (NASDAQ: CYTK) recently:

• 9/20/2024 – Cytokinetics had its “buy” rating reaffirmed by analysts at HC Wainwright. They now have a $90.00 price target on the stock.
• 9/9/2024 – Cytokinetics had its “overweight” rating reaffirmed by analysts at Cantor Fitzgerald.
• 9/9/2024 – Cytokinetics had its “buy” rating reaffirmed by analysts at HC Wainwright. They now have a $90.00 price target on the stock.
• 9/5/2024 – Cytokinetics had its price target raised by analysts at JPMorgan Chase & Co. from $65.00 to $71.00. They now have an “overweight” rating on the stock.
• 9/4/2024 – Cytokinetics had its “market outperform” rating reaffirmed by analysts at JMP Securities. They now have a $78.00 price target on the stock.
• 9/3/2024 – Cytokinetics had its “buy” rating reaffirmed by analysts at HC Wainwright. They now have a $90.00 price target on the stock.
• 9/3/2024 – Cytokinetics had its “buy” rating reaffirmed by analysts at Needham & Company LLC. They now have a $72.00 price target on the stock.
• 8/13/2024 – Cytokinetics was downgraded by analysts at The Goldman Sachs Group, Inc. from a “buy” rating to a “neutral” rating. They now have a $60.00 price target on the stock, down previously from $85.00.
• 8/12/2024 – Cytokinetics had its “buy” rating reaffirmed by analysts at HC Wainwright. They now have a $90.00 price target on the stock.
• 8/9/2024 – Cytokinetics had its “buy” rating reaffirmed by analysts at Needham & Company LLC. They now have a $72.00 price target on the stock.

Cytokinetics Trading Up 1.1 %

CYTK traded up $0.57 during trading on Tuesday, hitting $52.66. 1,391,933 shares of the company’s stock were exchanged, compared to its average volume of 2,261,502. The company has a current ratio of 10.39, a quick ratio of 10.39 and a debt-to-equity ratio of 5.93. Cytokinetics, Incorporated has a 1 year low of $25.98 and a 1 year high of $110.25. The stock has a 50 day moving average price of $56.11 and a 200 day moving average price of $59.09. The firm has a market cap of $5.52 billion, a P/E ratio of -9.75 and a beta of 0.77.

Cytokinetics (NASDAQ:CYTK) last announced its earnings results on Thursday, August 8th. The biopharmaceutical company reported ($1.31) earnings per share for the quarter, missing the consensus estimate of ($1.06) by ($0.25). The firm had revenue of $0.25 million during the quarter, compared to the consensus estimate of $7.61 million. Cytokinetics’s quarterly revenue was down 71.3% on a year-over-year basis. During the same period in the previous year, the company earned ($1.34) EPS. As a group, analysts expect that Cytokinetics, Incorporated will post -5.15 EPS for the current fiscal year.

Insider Buying and Selling

In other Cytokinetics news, EVP Fady Ibraham Malik sold 7,384 shares of Cytokinetics stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $57.01, for a total value of $420,961.84. Following the completion of the transaction, the executive vice president now directly owns 122,920 shares in the company, valued at $7,007,669.20. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, EVP Fady Ibraham Malik sold 7,384 shares of Cytokinetics stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $57.01, for a total transaction of $420,961.84. Following the sale, the executive vice president now owns 122,920 shares of the company’s stock, valued at $7,007,669.20. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director B Lynne Parshall sold 5,000 shares of Cytokinetics stock in a transaction that occurred on Monday, July 29th. The shares were sold at an average price of $59.84, for a total value of $299,200.00. Following the sale, the director now directly owns 20,600 shares in the company, valued at approximately $1,232,704. The disclosure for this sale can be found here. Over the last three months, insiders sold 100,537 shares of company stock worth $5,626,227. Corporate insiders own 3.40% of the company’s stock.

Institutional Investors Weigh In On Cytokinetics

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CYTK. J.Safra Asset Management Corp lifted its stake in Cytokinetics by 642.3% in the 2nd quarter. J.Safra Asset Management Corp now owns 527 shares of the biopharmaceutical company’s stock worth $29,000 after acquiring an additional 456 shares in the last quarter. EntryPoint Capital LLC purchased a new stake in Cytokinetics in the 1st quarter worth about $74,000. Bessemer Group Inc. lifted its stake in Cytokinetics by 25,100.0% in the 1st quarter. Bessemer Group Inc. now owns 1,260 shares of the biopharmaceutical company’s stock worth $88,000 after acquiring an additional 1,255 shares in the last quarter. Quarry LP lifted its stake in Cytokinetics by 233.3% in the 2nd quarter. Quarry LP now owns 2,000 shares of the biopharmaceutical company’s stock worth $108,000 after acquiring an additional 1,400 shares in the last quarter. Finally, Cim Investment Management Inc. purchased a new stake in Cytokinetics in the 4th quarter worth about $263,000.

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.