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

Cytokinetics, Incorporated (NASDAQ:CYTK) has earned an average rating of “Moderate Buy” from the eighteen analysts that are presently covering the company, MarketBeat reports. Two analysts have rated the stock with a hold recommendation, fifteen have given a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $82.00.

Several research firms recently issued reports on CYTK. JMP Securities reaffirmed a “market outperform” rating and issued a $78.00 price target on shares of Cytokinetics in a report on Friday, February 7th. Evercore ISI upgraded shares of Cytokinetics to a “strong-buy” rating in a research note on Friday, February 7th. HC Wainwright reaffirmed a “buy” rating and set a $120.00 price target on shares of Cytokinetics in a research report on Tuesday, January 21st. Mizuho boosted their price objective on Cytokinetics from $99.00 to $103.00 and gave the company an “outperform” rating in a report on Thursday, November 21st. Finally, Royal Bank of Canada increased their target price on Cytokinetics from $80.00 to $82.00 and gave the stock an “outperform” rating in a report on Wednesday, December 18th.

Insider Transactions at Cytokinetics

In related news, EVP Fady Ibraham Malik sold 2,000 shares of the stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $45.98, for a total value of $91,960.00. Following the completion of the transaction, the executive vice president now directly owns 116,071 shares of the company’s stock, valued at $5,336,944.58. This represents a 1.69 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Robert I. Blum sold 5,000 shares of Cytokinetics stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $50.76, for a total value of $253,800.00. Following the sale, the chief executive officer now directly owns 397,678 shares in the company, valued at $20,186,135.28. The trade was a 1.24 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 30,122 shares of company stock worth $1,494,016. Insiders own 3.40% of the company’s stock.

Institutional Trading of Cytokinetics

A number of institutional investors have recently made changes to their positions in the stock. Deep Track Capital LP raised its holdings in Cytokinetics by 296.9% during the fourth quarter. Deep Track Capital LP now owns 2,500,000 shares of the biopharmaceutical company’s stock worth $117,600,000 after purchasing an additional 1,870,094 shares in the last quarter. Capital International Investors acquired a new position in shares of Cytokinetics during the 4th quarter valued at $51,564,000. T. Rowe Price Investment Management Inc. raised its stake in shares of Cytokinetics by 11.0% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 10,752,123 shares of the biopharmaceutical company’s stock worth $505,780,000 after buying an additional 1,062,136 shares in the last quarter. Norges Bank acquired a new stake in shares of Cytokinetics in the fourth quarter valued at $46,556,000. Finally, Vestal Point Capital LP boosted its stake in Cytokinetics by 56.7% during the fourth quarter. Vestal Point Capital LP now owns 2,350,000 shares of the biopharmaceutical company’s stock valued at $110,544,000 after buying an additional 850,000 shares in the last quarter.

Cytokinetics Price Performance

Shares of NASDAQ CYTK opened at $51.12 on Friday. The company has a quick ratio of 9.28, a current ratio of 9.28 and a debt-to-equity ratio of 5.93. Cytokinetics has a fifty-two week low of $40.53 and a fifty-two week high of $81.36. The business has a 50 day moving average price of $47.26 and a two-hundred day moving average price of $51.55. The firm has a market cap of $6.03 billion, a PE ratio of -9.50 and a beta of 0.83.

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.