Cytokinetics, Incorporated (NASDAQ:CYTK) Receives Consensus Rating of “Moderate Buy” from Brokerages

Shares of Cytokinetics, Incorporated (NASDAQ:CYTKGet Free Report) have been assigned a consensus recommendation of “Moderate Buy” from the fifteen ratings firms that are covering the stock, Marketbeat.com reports. Three 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 brokers that have updated their coverage on the stock in the last year is $83.64.

A number of analysts have recently issued reports on CYTK shares. Mizuho lifted their price objective on shares of Cytokinetics from $99.00 to $103.00 and gave the stock an “outperform” rating in a report on Thursday, November 21st. Needham & Company LLC reaffirmed a “buy” rating and set a $72.00 price target on shares of Cytokinetics in a research note on Monday, December 2nd. HC Wainwright reiterated a “buy” rating and set a $120.00 price objective on shares of Cytokinetics in a research report on Friday, December 20th. Royal Bank of Canada boosted their target price on Cytokinetics from $80.00 to $82.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 18th. Finally, Cantor Fitzgerald reiterated an “overweight” rating on shares of Cytokinetics in a research report on Friday, October 18th.

View Our Latest Report on CYTK

Insider Activity

In related news, CEO Robert I. Blum sold 5,000 shares of Cytokinetics stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $51.63, for a total transaction of $258,150.00. Following the sale, the chief executive officer now directly owns 397,456 shares in the company, valued at $20,520,653.28. The trade was a 1.24 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Fady Ibraham Malik sold 7,300 shares of the stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $54.19, for a total value of $395,587.00. Following the completion of the transaction, the executive vice president now owns 116,920 shares of the company’s stock, valued at approximately $6,335,894.80. This trade represents a 5.88 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 57,516 shares of company stock valued at $3,004,383. Corporate insiders own 3.40% of the company’s stock.

Institutional Trading of Cytokinetics

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Van ECK Associates Corp boosted its stake in Cytokinetics by 21.3% during the third quarter. Van ECK Associates Corp now owns 71,691 shares of the biopharmaceutical company’s stock worth $3,802,000 after acquiring an additional 12,565 shares in the last quarter. Westfield Capital Management Co. LP boosted its position in shares of 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 purchasing an additional 339,373 shares in the last quarter. Ghisallo Capital Management LLC purchased a new stake in shares of Cytokinetics in the 2nd quarter worth approximately $10,619,000. Darwin Global Management Ltd. bought a new position in Cytokinetics during the 2nd quarter valued at approximately $246,074,000. Finally, WINTON GROUP Ltd bought a new position in Cytokinetics during the 2nd quarter valued at approximately $983,000.

Cytokinetics Trading Down 2.4 %

Shares of Cytokinetics stock opened at $47.37 on Thursday. The company’s 50-day moving average price is $50.60 and its 200-day moving average price is $53.57. The company has a market cap of $5.59 billion, a price-to-earnings ratio of -8.80 and a beta of 0.82. Cytokinetics has a 12-month low of $45.66 and a 12-month high of $108.61. 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:CYTKGet Free Report) last announced its quarterly earnings results 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 for the quarter was up 22.5% on a year-over-year basis. During the same period last year, the firm posted ($1.35) earnings per share. On average, equities analysts expect that Cytokinetics will post -5.25 earnings per share for the current fiscal year.

Cytokinetics Company Profile

(Get Free Report

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.

Featured Stories

Analyst Recommendations for Cytokinetics (NASDAQ:CYTK)

Receive News & Ratings for Cytokinetics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cytokinetics and related companies with MarketBeat.com's FREE daily email newsletter.