Cytokinetics (NASDAQ:CYTK) Earns “Buy” Rating from HC Wainwright

HC Wainwright reaffirmed their buy rating on shares of Cytokinetics (NASDAQ:CYTK) in a research report sent to investors on Friday,Benzinga reports. They currently have a $120.00 target price on the biopharmaceutical company’s stock.

Other equities research analysts have also issued reports about the stock. Royal Bank of Canada boosted their price objective on shares of Cytokinetics from $80.00 to $82.00 and gave the company an “outperform” rating in a report on Wednesday, December 18th. Cantor Fitzgerald reiterated an “overweight” rating on shares of Cytokinetics in a research note on Friday, October 18th. JPMorgan Chase & Co. raised their price objective on Cytokinetics from $65.00 to $71.00 and gave the stock an “overweight” rating in a research note on Thursday, September 5th. Mizuho lifted their target price on Cytokinetics from $99.00 to $103.00 and gave the stock an “outperform” rating in a report on Thursday, November 21st. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $72.00 price target on shares of Cytokinetics in a report on Monday, December 2nd. One analyst has rated the stock with a sell rating, four have given a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $84.07.

Cytokinetics Price Performance

Shares of NASDAQ CYTK opened at $48.87 on Friday. Cytokinetics has a fifty-two week low of $36.24 and a fifty-two week high of $110.25. The company has a market cap of $5.77 billion, a PE ratio of -9.08 and a beta of 0.80. The company has a debt-to-equity ratio of 5.93, a quick ratio of 9.28 and a current ratio of 9.28. The business has a 50-day simple moving average of $51.97 and a two-hundred day simple moving average of $54.01.

Cytokinetics (NASDAQ:CYTK) last announced 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 company had revenue of $0.46 million for the quarter, compared to analysts’ expectations of $1.21 million. The firm’s revenue was up 22.5% compared to the same quarter last year. During the same period in the prior year, the firm earned ($1.35) earnings per share. As a group, equities analysts expect that Cytokinetics will post -5.25 EPS for the current fiscal year.

Insider Activity at Cytokinetics

In related news, EVP Fady Ibraham Malik sold 7,300 shares of the company’s stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of $50.16, for a total value of $366,168.00. Following the completion of the transaction, the executive vice president now owns 111,878 shares of the company’s stock, valued at approximately $5,611,800.48. This represents a 6.13 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Wendall Wierenga sold 4,452 shares of the stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $52.25, for a total value of $232,617.00. Following the transaction, the director now owns 24,559 shares in the company, valued at $1,283,207.75. This represents a 15.35 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 74,816 shares of company stock worth $3,923,463. 3.40% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Darwin Global Management Ltd. acquired a new stake in Cytokinetics in the 2nd quarter valued at $246,074,000. Integral Health Asset Management LLC lifted its holdings in Cytokinetics by 122.2% during the second quarter. Integral Health Asset Management LLC now owns 1,000,000 shares of the biopharmaceutical company’s stock valued at $54,180,000 after purchasing an additional 550,000 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of Cytokinetics by 42.7% in the third 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 during the period. Westfield Capital Management Co. LP increased its stake in shares of Cytokinetics by 38.9% during 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 purchasing an additional 339,373 shares in the last quarter. Finally, Checkpoint Capital L.P. raised its position in shares of Cytokinetics by 145.7% during the 3rd quarter. Checkpoint Capital L.P. now owns 466,813 shares of the biopharmaceutical company’s stock worth $24,648,000 after purchasing an additional 276,813 shares during the last quarter.

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.