Cytokinetics, Incorporated (NASDAQ:CYTK) Given Consensus Recommendation of “Moderate Buy” by Analysts

Cytokinetics, Incorporated (NASDAQ:CYTK) has been assigned a consensus rating of “Moderate Buy” from the fifteen research firms that are presently covering the company, Marketbeat Ratings reports. Four analysts have rated the stock with a hold recommendation and eleven have issued a buy recommendation on the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $83.93.

Several analysts recently weighed in on CYTK shares. The Goldman Sachs Group cut shares of Cytokinetics from a “buy” rating to a “neutral” rating and cut their price target for the company from $85.00 to $60.00 in a report on Tuesday, August 13th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Cytokinetics in a research note on Friday, October 18th. JPMorgan Chase & Co. upped their target price on Cytokinetics from $65.00 to $71.00 and gave the stock an “overweight” rating in a report on Thursday, September 5th. JMP Securities restated a “market outperform” rating and issued a $78.00 target price on shares of Cytokinetics in a research note on Wednesday, September 4th. Finally, HC Wainwright restated a “buy” rating and set a $120.00 price target on shares of Cytokinetics in a research report on Thursday, October 17th.

Cytokinetics Price Performance

CYTK opened at $53.04 on Friday. The firm has a market cap of $5.56 billion, a price-to-earnings ratio of -9.82 and a beta of 0.77. The company has a debt-to-equity ratio of 5.93, a current ratio of 10.39 and a quick ratio of 10.39. The stock’s 50 day simple moving average is $55.05 and its 200 day simple moving average is $57.03. Cytokinetics has a 1 year low of $30.37 and a 1 year high of $110.25.

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

Insider Transactions at Cytokinetics

In other news, EVP Fady Ibraham Malik sold 7,300 shares of Cytokinetics stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $54.19, for a total value of $395,587.00. Following the completion of the transaction, the executive vice president now owns 116,920 shares of the company’s stock, valued at $6,335,894.80. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, EVP Fady Ibraham Malik sold 7,300 shares of the firm’s stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $54.19, for a total transaction of $395,587.00. Following the completion of the sale, the executive vice president now owns 116,920 shares of the company’s stock, valued at $6,335,894.80. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Robert I. Blum sold 5,000 shares of the business’s stock in a transaction that occurred on Wednesday, October 9th. The stock was sold at an average price of $55.61, for a total transaction of $278,050.00. Following the completion of the transaction, the chief executive officer now owns 397,456 shares of the company’s stock, valued at approximately $22,102,528.16. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 77,284 shares of company stock valued at $4,306,652. Insiders own 3.40% of the company’s stock.

Institutional Investors Weigh In On Cytokinetics

Institutional investors have recently modified their holdings of the business. J.Safra Asset Management Corp lifted its stake in Cytokinetics by 642.3% during the 2nd quarter. J.Safra Asset Management Corp now owns 527 shares of the biopharmaceutical company’s stock valued at $29,000 after acquiring an additional 456 shares during the period. UMB Bank n.a. lifted its position in Cytokinetics by 65.6% during the third quarter. UMB Bank n.a. now owns 601 shares of the biopharmaceutical company’s stock valued at $32,000 after purchasing an additional 238 shares during the period. Blue Trust Inc. lifted its position in Cytokinetics by 225.9% during the third quarter. Blue Trust Inc. now owns 981 shares of the biopharmaceutical company’s stock valued at $53,000 after purchasing an additional 680 shares during the period. Values First Advisors Inc. purchased a new stake in Cytokinetics in the third quarter worth approximately $54,000. Finally, EntryPoint Capital LLC bought a new stake in Cytokinetics in the 1st quarter worth approximately $74,000.

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.