Cytokinetics (CYTK) to Release Earnings on Wednesday

Cytokinetics (NASDAQ:CYTK) will issue its quarterly earnings data after the market closes on Wednesday, May 8th. Analysts expect the company to announce earnings of ($1.16) per share for the quarter. Cytokinetics has set its FY 2024 guidance at EPS.Individual interested in registering for the company’s earnings conference call can do so using this link.

Cytokinetics (NASDAQ:CYTK) last released its quarterly earnings data on Tuesday, February 27th. The biopharmaceutical company reported ($1.38) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.03) by ($0.35). The firm had revenue of $1.70 million for the quarter, compared to analysts’ expectations of $7.62 million. Cytokinetics’s revenue for the quarter was down 10.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($1.45) EPS. On average, analysts expect Cytokinetics to post $-5 EPS for the current fiscal year and $-3 EPS for the next fiscal year.

Cytokinetics Stock Performance

NASDAQ CYTK opened at $65.27 on Monday. The company has a fifty day moving average of $68.57 and a 200 day moving average of $61.18. Cytokinetics has a 1 year low of $25.98 and a 1 year high of $110.25.

Analyst Ratings Changes

Several brokerages recently weighed in on CYTK. Mizuho reduced their price target on Cytokinetics from $103.00 to $99.00 and set a “buy” rating for the company in a research report on Wednesday, March 6th. UBS Group downgraded Cytokinetics from a “buy” rating to a “neutral” rating and upped their target price for the stock from $61.00 to $92.00 in a research note on Wednesday, January 24th. Truist Financial reiterated a “buy” rating and issued a $86.00 target price on shares of Cytokinetics in a research report on Monday, April 8th. Needham & Company LLC restated a “buy” rating and issued a $108.00 price target on shares of Cytokinetics in a research report on Tuesday, April 9th. Finally, Oppenheimer reiterated an “outperform” rating and set a $107.00 price objective on shares of Cytokinetics in a research report on Monday, March 4th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and thirteen have given a buy rating to the company. According to MarketBeat, Cytokinetics currently has an average rating of “Moderate Buy” and a consensus price target of $79.33.

Insider Activity at Cytokinetics

In other Cytokinetics news, EVP Fady Ibraham Malik sold 32,605 shares of the stock in a transaction that occurred on Tuesday, February 6th. The shares were sold at an average price of $79.30, for a total value of $2,585,576.50. Following the sale, the executive vice president now directly owns 142,973 shares of the company’s stock, valued at approximately $11,337,758.90. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Cytokinetics news, Director John T. Henderson sold 10,562 shares of the firm’s stock in a transaction that occurred on Thursday, April 25th. The shares were sold at an average price of $64.54, for a total transaction of $681,671.48. Following the sale, the director now owns 32,070 shares of the company’s stock, valued at $2,069,797.80. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Fady Ibraham Malik sold 32,605 shares of Cytokinetics stock in a transaction on Tuesday, February 6th. The stock was sold at an average price of $79.30, for a total transaction of $2,585,576.50. Following the sale, the executive vice president now owns 142,973 shares in the company, valued at $11,337,758.90. The disclosure for this sale can be found here. Insiders have sold a total of 113,376 shares of company stock valued at $8,275,252 over the last 90 days. 3.40% of the stock is owned by corporate insiders.

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.