Analysts Set Cytokinetics, Incorporated (NASDAQ:CYTK) Price Target at $83.67

Shares of Cytokinetics, Incorporated (NASDAQ:CYTK) have been given an average recommendation of “Moderate Buy” by the sixteen ratings firms that are presently covering the stock, MarketBeat.com reports. Four equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating on the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $83.67.

A number of analysts have issued reports on CYTK shares. Cantor Fitzgerald reissued an “overweight” rating on shares of Cytokinetics in a report on Friday, October 18th. JPMorgan Chase & Co. increased their price target on Cytokinetics from $65.00 to $71.00 and gave the stock an “overweight” rating in a research report on Thursday, September 5th. HC Wainwright reaffirmed a “buy” rating and issued a $120.00 price objective on shares of Cytokinetics in a report on Thursday, November 7th. Needham & Company LLC reissued a “buy” rating and set a $72.00 target price on shares of Cytokinetics in a report on Thursday, October 17th. Finally, The Goldman Sachs Group downgraded Cytokinetics from a “buy” rating to a “neutral” rating and dropped their price target for the company from $85.00 to $60.00 in a research note on Tuesday, August 13th.

Insider Buying and Selling at Cytokinetics

In other news, EVP Fady Ibraham Malik sold 7,384 shares of Cytokinetics stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $57.01, for a total transaction of $420,961.84. Following the completion of the sale, the executive vice president now owns 122,920 shares in the company, valued at approximately $7,007,669.20. This trade represents a 5.67 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Robert I. Blum sold 5,000 shares of the firm’s stock in a transaction on Friday, November 1st. The shares were sold at an average price of $51.63, for a total transaction of $258,150.00. Following the sale, the chief executive officer now owns 397,456 shares in the company, valued at approximately $20,520,653.28. This trade represents a 1.24 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 60,078 shares of company stock valued at $3,261,369 over the last three months. 3.40% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. Darwin Global Management Ltd. bought a new position in shares of Cytokinetics during the second quarter valued at $246,074,000. Geode Capital Management LLC increased its stake in Cytokinetics by 4.0% during the 3rd quarter. Geode Capital Management LLC now owns 2,848,584 shares of the biopharmaceutical company’s stock valued at $150,433,000 after purchasing an additional 109,938 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in Cytokinetics by 42.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,321,391 shares of the biopharmaceutical company’s stock valued at $69,769,000 after purchasing an additional 395,709 shares in the last quarter. Westfield Capital Management Co. LP lifted 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 worth $64,040,000 after buying an additional 339,373 shares in the last quarter. Finally, Janus Henderson Group PLC lifted its stake in shares of Cytokinetics by 17.2% in the third quarter. Janus Henderson Group PLC now owns 1,143,830 shares of the biopharmaceutical company’s stock worth $60,399,000 after buying an additional 167,501 shares in the last quarter.

Cytokinetics Stock Down 8.2 %

Cytokinetics stock opened at $50.22 on Wednesday. The company has a debt-to-equity ratio of 5.93, a current ratio of 9.28 and a quick ratio of 9.28. The company’s 50-day moving average is $54.08 and its 200-day moving average is $55.20. The firm has a market capitalization of $5.93 billion, a PE ratio of -9.33 and a beta of 0.78. Cytokinetics has a fifty-two week low of $30.68 and a fifty-two week high of $110.25.

Cytokinetics (NASDAQ:CYTK) last released its quarterly earnings data on Wednesday, November 6th. The biopharmaceutical company reported ($1.36) EPS for the quarter, missing the consensus estimate of ($1.27) by ($0.09). The business had revenue of $0.46 million for the quarter, compared to analysts’ expectations of $1.21 million. Cytokinetics’s revenue was up 22.5% on a year-over-year basis. During the same quarter in the prior year, the company posted ($1.35) EPS. Sell-side analysts anticipate that Cytokinetics will post -4.32 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.