Brokerages Set Cytokinetics, Incorporated (NASDAQ:CYTK) Price Target at $82.00

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

Several research analysts have recently commented on the company. JMP Securities restated a “market outperform” rating and set a $78.00 price target on shares of Cytokinetics in a research report on Friday, February 7th. Stifel Nicolaus assumed coverage on Cytokinetics in a research report on Wednesday, January 22nd. They set a “buy” rating and a $80.00 price target for the company. Citigroup assumed coverage on Cytokinetics in a research report on Friday, February 7th. They set a “buy” rating and a $86.00 price target for the company. Morgan Stanley set a $67.00 price target on Cytokinetics in a research report on Friday, March 7th. Finally, Evercore ISI upgraded Cytokinetics to a “strong-buy” rating in a research note on Friday, February 7th.

Insider Buying and Selling at Cytokinetics

In other news, EVP Fady Ibraham Malik sold 2,000 shares of Cytokinetics stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of $45.92, for a total transaction of $91,840.00. Following the sale, the executive vice president now owns 116,071 shares in the company, valued at approximately $5,329,980.32. The trade was a 1.69 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Robert I. Blum sold 16,970 shares of Cytokinetics stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $43.44, for a total value of $737,176.80. Following the sale, the chief executive officer now owns 364,181 shares in the company, valued at $15,820,022.64. This trade represents a 4.45 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 43,834 shares of company stock worth $1,949,275 over the last ninety days. Corporate insiders own 3.40% of the company’s stock.

Institutional Trading of Cytokinetics

A number of hedge funds and other institutional investors have recently made changes to their positions in CYTK. Oppenheimer & Co. Inc. increased its position in shares of Cytokinetics by 10.7% during the third quarter. Oppenheimer & Co. Inc. now owns 8,546 shares of the biopharmaceutical company’s stock worth $451,000 after purchasing an additional 824 shares in the last quarter. Royce & Associates LP grew its holdings in shares of Cytokinetics by 70.2% during the third quarter. Royce & Associates LP now owns 24,250 shares of the biopharmaceutical company’s stock worth $1,280,000 after buying an additional 10,000 shares during the last quarter. Swiss National Bank grew its holdings in shares of Cytokinetics by 10.2% during the third quarter. Swiss National Bank now owns 215,500 shares of the biopharmaceutical company’s stock worth $11,378,000 after buying an additional 20,000 shares during the last quarter. Pathstone Holdings LLC grew its holdings in shares of Cytokinetics by 17.0% during the third quarter. Pathstone Holdings LLC now owns 34,560 shares of the biopharmaceutical company’s stock worth $1,825,000 after buying an additional 5,027 shares during the last quarter. Finally, B. Metzler seel. Sohn & Co. Holding AG purchased a new position in shares of Cytokinetics during the third quarter worth about $248,000.

Cytokinetics Trading Down 0.8 %

CYTK opened at $43.10 on Tuesday. Cytokinetics has a 52 week low of $40.53 and a 52 week high of $75.71. The business has a fifty day simple moving average of $45.99 and a 200-day simple moving average of $50.04. The firm has a market cap of $5.10 billion, a P/E ratio of -8.01 and a beta of 0.95. 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 (NASDAQ:CYTK) last released its quarterly earnings results on Thursday, February 27th. The biopharmaceutical company reported ($1.26) EPS for the quarter, topping the consensus estimate of ($1.29) by $0.03. The firm had revenue of $16.93 million for the quarter, compared to analysts’ expectations of $14.26 million. On average, equities analysts expect that Cytokinetics will post -5.24 earnings per share for the current year.

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.