Cytokinetics (NASDAQ:CYTK) Releases Quarterly Earnings Results, Beats Expectations By $0.03 EPS

Cytokinetics (NASDAQ:CYTK) announced its quarterly earnings data on Thursday. The biopharmaceutical company reported ($1.26) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.29) by $0.03, Zacks reports. The firm had revenue of $16.93 million during the quarter, compared to the consensus estimate of $14.26 million.

Cytokinetics Stock Performance

Shares of CYTK stock opened at $47.45 on Friday. The firm has a market capitalization of $5.60 billion, a price-to-earnings ratio of -8.82 and a beta of 0.83. 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 business has a fifty day moving average of $47.28 and a 200 day moving average of $51.36. Cytokinetics has a 1 year low of $40.53 and a 1 year high of $75.71.

Wall Street Analysts Forecast Growth

CYTK has been the topic of several research analyst reports. Royal Bank of Canada increased their price objective on Cytokinetics from $80.00 to $82.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 18th. JMP Securities reissued a “market outperform” rating and issued a $78.00 price objective on shares of Cytokinetics in a research note on Friday, February 7th. Stifel Nicolaus initiated coverage on Cytokinetics in a research note on Wednesday, January 22nd. They issued a “buy” rating and a $80.00 price objective on the stock. HC Wainwright reissued a “buy” rating and issued a $120.00 price objective on shares of Cytokinetics in a research note on Friday. Finally, Evercore ISI raised Cytokinetics to a “strong-buy” rating in a research note on Friday, February 7th. Two investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $82.00.

Insider Buying and Selling

In other Cytokinetics news, EVP Fady Ibraham Malik sold 2,000 shares of Cytokinetics stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of $45.92, for a total transaction of $91,840.00. Following the completion of the transaction, the executive vice president now owns 116,071 shares in the company, valued at approximately $5,329,980.32. This trade represents a 1.69 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Wendall Wierenga sold 742 shares of Cytokinetics stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $48.61, for a total value of $36,068.62. Following the completion of the transaction, the director now owns 24,559 shares of the company’s stock, valued at approximately $1,193,812.99. This represents a 2.93 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 22,822 shares of company stock worth $1,127,848 in the last 90 days. Insiders own 3.40% of the company’s stock.

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.