Cytokinetics, Incorporated (NASDAQ:CYTK) Receives $83.67 Consensus PT from Brokerages

Cytokinetics, Incorporated (NASDAQ:CYTK) has received an average recommendation of “Moderate Buy” from the sixteen brokerages that are presently covering the stock, Marketbeat.com reports. Four equities research analysts have rated the stock with a hold recommendation and twelve have given a buy recommendation to the company. The average 12 month price target among brokers that have covered the stock in the last year is $83.67.

A number of research analysts recently weighed in on CYTK shares. HC Wainwright reiterated a “buy” rating and issued a $120.00 price objective on shares of Cytokinetics in a research note on Thursday, November 7th. Needham & Company LLC reiterated a “buy” rating and set a $72.00 price objective on shares of Cytokinetics in a research note on Thursday, October 17th. JMP Securities restated a “market outperform” rating and issued a $78.00 target price on shares of Cytokinetics in a research note on Wednesday, September 4th. The Goldman Sachs Group cut Cytokinetics from a “buy” rating to a “neutral” rating and decreased their price target for the company from $85.00 to $60.00 in a research report on Tuesday, August 13th. Finally, Cantor Fitzgerald restated an “overweight” rating on shares of Cytokinetics in a research report on Friday, October 18th.

Insider Activity

In related news, CEO Robert I. Blum sold 5,000 shares of Cytokinetics stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $57.03, for a total value of $285,150.00. Following the transaction, the chief executive officer now owns 397,456 shares in the company, valued at $22,666,915.68. This trade represents a 1.24 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Fady Ibraham Malik sold 7,384 shares of the business’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $57.01, for a total transaction of $420,961.84. Following the completion of the sale, the executive vice president now directly owns 122,920 shares of the company’s stock, valued at $7,007,669.20. This represents a 5.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 60,078 shares of company stock worth $3,261,369. 3.40% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Cytokinetics

A number of large investors have recently bought and sold shares of CYTK. Louisiana State Employees Retirement System grew its holdings in shares of Cytokinetics by 0.6% in the third quarter. Louisiana State Employees Retirement System now owns 32,600 shares of the biopharmaceutical company’s stock worth $1,721,000 after purchasing an additional 200 shares during the last quarter. UMB Bank n.a. raised its stake in shares of Cytokinetics by 65.6% during the third quarter. UMB Bank n.a. now owns 601 shares of the biopharmaceutical company’s stock valued at $32,000 after acquiring an additional 238 shares during the last quarter. First Bank & Trust boosted its holdings in shares of Cytokinetics by 4.7% during the second quarter. First Bank & Trust now owns 6,757 shares of the biopharmaceutical company’s stock worth $366,000 after purchasing an additional 303 shares during the period. Nisa Investment Advisors LLC grew its stake in shares of Cytokinetics by 2.9% in the third quarter. Nisa Investment Advisors LLC now owns 15,062 shares of the biopharmaceutical company’s stock worth $795,000 after purchasing an additional 430 shares during the last quarter. Finally, J.Safra Asset Management Corp increased its holdings in Cytokinetics by 642.3% during the 2nd quarter. J.Safra Asset Management Corp now owns 527 shares of the biopharmaceutical company’s stock valued at $29,000 after purchasing an additional 456 shares during the period.

Cytokinetics Stock Performance

Shares of CYTK opened at $50.22 on Wednesday. The company has a debt-to-equity ratio of 5.93, a current ratio of 9.28 and a quick ratio of 9.28. The firm has a market cap of $5.93 billion, a PE ratio of -9.33 and a beta of 0.78. Cytokinetics has a 1 year low of $30.68 and a 1 year high of $110.25. The stock’s fifty day moving average price is $54.08 and its two-hundred day moving average price is $55.30.

Cytokinetics (NASDAQ:CYTK) last released 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 business had revenue of $0.46 million for the quarter, compared to analyst estimates of $1.21 million. The firm’s revenue was up 22.5% on a year-over-year basis. During the same quarter in the previous year, the business posted ($1.35) earnings per share. On average, equities research analysts forecast that Cytokinetics will post -5.31 EPS for the current year.

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.