Cytokinetics (NASDAQ:CYTK) Posts Earnings Results, Misses Estimates By $0.09 EPS

Cytokinetics (NASDAQ:CYTK) posted its quarterly earnings results on Wednesday. The biopharmaceutical company reported ($1.36) EPS for the quarter, missing analysts’ consensus estimates of ($1.27) by ($0.09), Briefing.com reports. The company had revenue of $0.46 million during the quarter, compared to the consensus estimate of $1.21 million. The company’s quarterly revenue was up 22.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($1.35) earnings per share.

Cytokinetics Trading Up 2.1 %

Shares of CYTK traded up $1.15 during trading hours on Thursday, hitting $56.65. The stock had a trading volume of 939,665 shares, compared to its average volume of 2,073,657. The firm has a market cap of $6.67 billion, a P/E ratio of -10.55 and a beta of 0.78. The company’s fifty day simple moving average is $54.11 and its 200 day simple moving average is $55.70. Cytokinetics has a 12-month low of $30.68 and a 12-month high of $110.25. The company has a debt-to-equity ratio of 5.93, a quick ratio of 10.39 and a current ratio of 10.39.

Insider Activity

In related news, CEO Robert I. Blum sold 11,500 shares of the firm’s stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $55.17, for a total value of $634,455.00. Following the completion of the transaction, the chief executive officer now owns 399,412 shares of the company’s stock, valued at approximately $22,035,560.04. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, Director Wendall Wierenga sold 4,452 shares of the firm’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 completion of the sale, the director now owns 24,559 shares in the company, valued at approximately $1,283,207.75. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Robert I. Blum sold 11,500 shares of the company’s stock in a transaction on Monday, August 12th. The stock was sold at an average price of $55.17, for a total value of $634,455.00. Following the sale, the chief executive officer now owns 399,412 shares of the company’s stock, valued at approximately $22,035,560.04. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 70,236 shares of company stock worth $3,800,944. 3.40% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

CYTK has been the topic of several recent research reports. JPMorgan Chase & Co. upped their price objective on shares of Cytokinetics from $65.00 to $71.00 and gave the company an “overweight” rating in a report on Thursday, September 5th. Cantor Fitzgerald reiterated an “overweight” rating on shares of Cytokinetics in a research note on Friday, October 18th. The Goldman Sachs Group lowered Cytokinetics from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $85.00 to $60.00 in a report on Tuesday, August 13th. Needham & Company LLC restated a “buy” rating and issued a $72.00 price objective on shares of Cytokinetics in a research report on Thursday, October 17th. Finally, JMP Securities reaffirmed a “market outperform” rating and set a $78.00 price target on shares of Cytokinetics in a report on Wednesday, September 4th. One analyst has rated the stock with a sell rating, four have given a hold rating and eleven have given 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 $83.93.

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.