Cytokinetics’ (CYTK) Buy Rating Reiterated at HC Wainwright

Cytokinetics (NASDAQ:CYTK)‘s stock had its “buy” rating reiterated by equities research analysts at HC Wainwright in a research report issued to clients and investors on Friday,Benzinga reports.

Several other research firms have also recently issued reports on CYTK. Royal Bank of Canada increased their target price on shares of Cytokinetics from $80.00 to $82.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 18th. Needham & Company LLC reiterated a “buy” rating and issued a $72.00 price objective on shares of Cytokinetics in a research report on Monday, December 2nd. Mizuho lifted their price objective on Cytokinetics from $99.00 to $103.00 and gave the company an “outperform” rating in a research note on Thursday, November 21st. Finally, Cantor Fitzgerald restated an “overweight” rating on shares of Cytokinetics in a research note on Friday, October 18th. Three research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $83.64.

Cytokinetics Stock Performance

Shares of CYTK stock opened at $46.62 on Friday. The firm’s 50 day moving average is $50.42 and its 200 day moving average is $53.48. The stock has a market capitalization of $5.50 billion, a P/E ratio of -8.67 and a beta of 0.82. Cytokinetics has a 12 month low of $45.17 and a 12 month high of $100.49. The company has a current ratio of 9.28, a quick ratio of 9.28 and a debt-to-equity ratio of 5.93.

Cytokinetics (NASDAQ:CYTK) last announced its quarterly earnings results on Wednesday, November 6th. The biopharmaceutical company reported ($1.36) earnings per share for the quarter, missing the consensus estimate of ($1.27) by ($0.09). The firm had revenue of $0.46 million during the quarter, compared to the consensus estimate of $1.21 million. The business’s quarterly revenue was up 22.5% compared to the same quarter last year. During the same period in the previous year, the business posted ($1.35) EPS. On average, sell-side analysts anticipate that Cytokinetics will post -5.25 earnings per share for the current year.

Insider Buying and Selling at Cytokinetics

In other news, EVP Fady Ibraham Malik sold 2,000 shares of the firm’s stock in a transaction dated Tuesday, January 7th. The shares were sold at an average price of $49.32, for a total value of $98,640.00. Following the completion of the sale, the executive vice president now directly owns 116,071 shares of the company’s stock, valued at approximately $5,724,621.72. This trade represents a 1.69 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Wendall Wierenga sold 4,452 shares of the business’s stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $52.25, for a total transaction 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. Insiders sold 59,516 shares of company stock valued at $3,103,023 in the last 90 days. Insiders own 3.40% of the company’s stock.

Institutional Trading of Cytokinetics

A number of hedge funds have recently modified their holdings of CYTK. UMB Bank n.a. boosted its stake in Cytokinetics by 65.6% during the third quarter. UMB Bank n.a. now owns 601 shares of the biopharmaceutical company’s stock worth $32,000 after acquiring an additional 238 shares in the last quarter. Blue Trust Inc. lifted its holdings in shares of Cytokinetics by 225.9% during the third quarter. Blue Trust Inc. now owns 981 shares of the biopharmaceutical company’s stock valued at $53,000 after purchasing an additional 680 shares during the last quarter. Values First Advisors Inc. bought a new stake in shares of Cytokinetics in the 3rd quarter worth approximately $54,000. Quarry LP grew its stake in shares of 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 buying an additional 1,400 shares during the last quarter. Finally, Avior Wealth Management LLC increased its position in Cytokinetics by 57.1% during the 3rd quarter. Avior Wealth Management LLC now owns 3,999 shares of the biopharmaceutical company’s stock valued at $211,000 after buying an additional 1,454 shares in 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.