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

Shares of Cytokinetics, Incorporated (NASDAQ:CYTK) have earned a consensus recommendation of “Moderate Buy” from the sixteen brokerages that are presently covering the company, MarketBeat Ratings reports. Four investment analysts have rated the stock with a hold recommendation and twelve have assigned a buy recommendation to the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $84.07.

Several research analysts have recently issued reports on CYTK shares. Royal Bank of Canada upped their price target on shares of Cytokinetics from $80.00 to $82.00 and gave the stock an “outperform” rating in a report on Wednesday, December 18th. HC Wainwright reiterated a “buy” rating and issued a $120.00 target price on shares of Cytokinetics in a research report on Friday, December 20th. Cantor Fitzgerald restated an “overweight” rating on shares of Cytokinetics in a report on Friday, October 18th. JPMorgan Chase & Co. upped their price target on Cytokinetics from $65.00 to $71.00 and gave the company an “overweight” rating in a research report on Thursday, September 5th. Finally, JMP Securities restated a “market outperform” rating and set a $78.00 price objective on shares of Cytokinetics in a research report on Wednesday, September 4th.

Cytokinetics Stock Performance

NASDAQ:CYTK opened at $47.04 on Thursday. Cytokinetics has a twelve month low of $45.66 and a twelve month high of $110.25. 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’s 50-day simple moving average is $50.91 and its 200 day simple moving average is $53.70. The firm has a market capitalization of $5.55 billion, a PE ratio of -8.74 and a beta of 0.80.

Cytokinetics (NASDAQ:CYTK) last posted its quarterly earnings results on Wednesday, November 6th. The biopharmaceutical company reported ($1.36) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.27) by ($0.09). The firm had revenue of $0.46 million for the quarter, compared to the consensus estimate of $1.21 million. The company’s quarterly revenue was up 22.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($1.35) EPS. On average, analysts anticipate that Cytokinetics will post -5.25 EPS for the current fiscal year.

Insider Activity at Cytokinetics

In other Cytokinetics news, Director Wendall Wierenga sold 4,452 shares of the firm’s stock in a transaction on Monday, October 28th. The stock was sold at an average price of $52.25, for a total transaction of $232,617.00. Following the transaction, the director now directly owns 24,559 shares in the company, valued at approximately $1,283,207.75. This trade represents a 15.35 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Robert I. Blum sold 5,000 shares of the company’s stock in a transaction 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 sale, 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 1.24 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 62,516 shares of company stock valued at $3,282,433. 3.40% of the stock is owned by company insiders.

Institutional Trading of Cytokinetics

A number of hedge funds have recently bought and sold shares of the business. Van ECK Associates Corp increased its stake in shares of Cytokinetics by 21.3% during the 3rd quarter. Van ECK Associates Corp now owns 71,691 shares of the biopharmaceutical company’s stock worth $3,802,000 after purchasing an additional 12,565 shares during the last quarter. Westfield Capital Management Co. LP raised its stake in shares of Cytokinetics by 38.9% in the third quarter. Westfield Capital Management Co. LP now owns 1,212,886 shares of the biopharmaceutical company’s stock valued at $64,040,000 after buying an additional 339,373 shares during the period. Ghisallo Capital Management LLC bought a new position in shares of Cytokinetics during the 2nd quarter worth $10,619,000. Darwin Global Management Ltd. purchased a new stake in Cytokinetics in the 2nd quarter worth about $246,074,000. Finally, WINTON GROUP Ltd purchased a new stake in Cytokinetics during the second quarter valued at about $983,000.

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.