Cytokinetics, Incorporated (NASDAQ:CYTK) Receives $83.93 Consensus Price Target from Analysts

Cytokinetics, Incorporated (NASDAQ:CYTK) has been given a consensus rating of “Moderate Buy” by the sixteen analysts that are currently covering the stock, Marketbeat reports. Four equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $83.93.

A number of research firms have issued reports on CYTK. HC Wainwright reissued a “buy” rating and set a $120.00 target price on shares of Cytokinetics in a research note on Monday, December 2nd. The Goldman Sachs Group downgraded Cytokinetics from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $85.00 to $60.00 in a research note on Tuesday, August 13th. Mizuho boosted their price target on shares of Cytokinetics from $99.00 to $103.00 and gave the stock an “outperform” rating in a research report on Thursday, November 21st. 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. Finally, Royal Bank of Canada assumed coverage on shares of Cytokinetics in a report on Friday, November 8th. They issued an “outperform” rating and a $80.00 target price on the stock.

Insider Buying and Selling

In other news, EVP Fady Ibraham Malik sold 7,300 shares of the company’s stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $52.10, for a total transaction of $380,330.00. Following the completion of the sale, the executive vice president now owns 118,920 shares in the company, valued at approximately $6,195,732. This represents a 5.78 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Robert I. Blum sold 5,000 shares of the firm’s stock in a transaction that occurred on Wednesday, October 9th. The shares were sold at an average price of $55.61, for a total value of $278,050.00. Following the completion of the transaction, the chief executive officer now directly owns 397,456 shares in the company, valued at $22,102,528.16. The trade was a 1.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 72,294 shares of company stock worth $3,797,647. Insiders own 3.40% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of CYTK. Darwin Global Management Ltd. bought a new stake in Cytokinetics during the second quarter valued at about $246,074,000. Integral Health Asset Management LLC grew its holdings in Cytokinetics by 122.2% in the 2nd quarter. Integral Health Asset Management LLC now owns 1,000,000 shares of the biopharmaceutical company’s stock valued at $54,180,000 after buying an additional 550,000 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in Cytokinetics by 42.7% in 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 buying an additional 395,709 shares during the last quarter. Westfield Capital Management Co. LP increased its position in Cytokinetics by 38.9% in the 3rd 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 during the period. Finally, Checkpoint Capital L.P. lifted its holdings in shares of Cytokinetics by 145.7% during the third quarter. Checkpoint Capital L.P. now owns 466,813 shares of the biopharmaceutical company’s stock worth $24,648,000 after buying an additional 276,813 shares during the last quarter.

Cytokinetics Trading Up 0.1 %

Shares of NASDAQ CYTK opened at $50.55 on Friday. Cytokinetics has a 12-month low of $32.70 and a 12-month high of $110.25. The company has a market cap of $5.97 billion, a price-to-earnings ratio of -9.40 and a beta of 0.80. The company has a current ratio of 9.28, a quick ratio of 9.28 and a debt-to-equity ratio of 5.93. The stock’s 50 day simple moving average is $52.95 and its 200 day simple moving average is $54.05.

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