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

Cytokinetics, Incorporated (NASDAQ:CYTK) has been given a consensus recommendation of “Moderate Buy” by the fifteen analysts that are currently covering the firm, MarketBeat.com reports. Four research analysts have rated the stock with a hold rating and eleven have issued a buy rating on the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $80.67.

A number of research firms have weighed in on CYTK. Truist Financial decreased their price objective on Cytokinetics from $86.00 to $70.00 and set a “buy” rating for the company in a research report on Wednesday, May 29th. Cantor Fitzgerald reiterated an “overweight” rating on shares of Cytokinetics in a research report on Monday, September 9th. B. Riley cut their price objective on shares of Cytokinetics from $122.00 to $92.00 and set a “buy” rating for the company in a research report on Tuesday, June 4th. Needham & Company LLC reaffirmed a “buy” rating and issued a $72.00 target price on shares of Cytokinetics in a report on Tuesday, September 3rd. Finally, HC Wainwright reissued a “buy” rating and set a $90.00 price target on shares of Cytokinetics in a report on Friday.

Insiders Place Their Bets

In other news, CEO Robert I. Blum sold 5,000 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $57.03, for a total value of $285,150.00. Following the completion of the transaction, the chief executive officer now owns 397,456 shares in the company, valued at $22,666,915.68. The sale was disclosed in a document filed with the SEC, which is available at this link. In related news, CEO Robert I. Blum sold 11,500 shares of the company’s stock in a transaction that occurred on Tuesday, July 30th. The stock was sold at an average price of $59.49, for a total value of $684,135.00. Following the sale, the chief executive officer now owns 399,412 shares of the company’s stock, valued at approximately $23,761,019.88. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Robert I. Blum sold 5,000 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $57.03, for a total value of $285,150.00. Following the transaction, the chief executive officer now directly owns 397,456 shares of the company’s stock, valued at approximately $22,666,915.68. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 100,537 shares of company stock worth $5,626,227. 3.40% of the stock is owned by corporate insiders.

Institutional Trading of Cytokinetics

A number of large investors have recently made changes to their positions in CYTK. Ghisallo Capital Management LLC purchased a new position in Cytokinetics in the 2nd quarter valued at about $10,619,000. Cetera Investment Advisers boosted its position in Cytokinetics by 128.5% during the second quarter. Cetera Investment Advisers now owns 27,320 shares of the biopharmaceutical company’s stock worth $1,480,000 after acquiring an additional 15,366 shares during the last quarter. Quarry LP grew 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 during the period. Creative Planning raised its holdings in Cytokinetics by 56.1% in the 2nd quarter. Creative Planning now owns 15,727 shares of the biopharmaceutical company’s stock valued at $852,000 after acquiring an additional 5,649 shares during the last quarter. Finally, Clearline Capital LP lifted its stake in shares of Cytokinetics by 332.4% during the 2nd quarter. Clearline Capital LP now owns 207,695 shares of the biopharmaceutical company’s stock worth $11,253,000 after purchasing an additional 159,660 shares during the period.

Cytokinetics Stock Performance

Shares of Cytokinetics stock opened at $52.09 on Tuesday. The firm’s fifty day simple moving average is $56.11 and its 200-day simple moving average is $59.09. Cytokinetics has a 12 month low of $25.98 and a 12 month high of $110.25. The stock has a market capitalization of $5.46 billion, a price-to-earnings ratio of -9.65 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.

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

Cytokinetics Company Profile

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.