Cytokinetics (NASDAQ:CYTK) Given Buy Rating at HC Wainwright

HC Wainwright reissued their buy rating on shares of Cytokinetics (NASDAQ:CYTK) in a report published on Thursday morning,Benzinga reports. HC Wainwright currently has a $120.00 price objective on the biopharmaceutical company’s stock.

CYTK has been the subject of a number of other research reports. JPMorgan Chase & Co. boosted their price objective on Cytokinetics from $65.00 to $71.00 and gave the company an “overweight” rating in a research report on Thursday, September 5th. The Goldman Sachs Group downgraded shares of Cytokinetics from a “buy” rating to a “neutral” rating and cut their price objective for the company from $85.00 to $60.00 in a research report on Tuesday, August 13th. JMP Securities restated a “market outperform” rating and issued a $78.00 target price on shares of Cytokinetics in a research report on Wednesday, September 4th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Cytokinetics in a report on Friday, October 18th. Finally, Needham & Company LLC restated a “buy” rating and issued a $72.00 target price on shares of Cytokinetics in a research report on Thursday, October 17th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $83.67.

Cytokinetics Trading Up 4.0 %

Shares of CYTK traded up $2.22 on Thursday, hitting $58.06. 865,317 shares of the stock traded hands, compared to its average volume of 2,073,192. The firm has a market capitalization of $6.83 billion, a P/E ratio of -10.40 and a beta of 0.78. The company has a quick ratio of 10.39, a current ratio of 10.39 and a debt-to-equity ratio of 5.93. Cytokinetics has a 1 year low of $30.68 and a 1 year high of $110.25. The stock’s 50 day moving average is $54.08 and its two-hundred day moving average is $55.70.

Cytokinetics (NASDAQ:CYTK) last released its quarterly earnings data on Wednesday, November 6th. The biopharmaceutical company reported ($1.36) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.27) by ($0.09). The firm had revenue of $0.46 million for the quarter, compared to the consensus estimate of $1.21 million. The firm’s quarterly revenue was up 22.5% on a year-over-year basis. During the same period in the prior year, the firm earned ($1.35) earnings per share. As a group, sell-side analysts predict that Cytokinetics will post -5.15 earnings per share for the current year.

Insider Activity at Cytokinetics

In other Cytokinetics news, CEO Robert I. Blum sold 5,000 shares of Cytokinetics stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $51.63, for a total value of $258,150.00. Following the transaction, the chief executive officer now owns 397,456 shares in the company, valued at approximately $20,520,653.28. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, EVP Fady Ibraham Malik sold 7,300 shares of the company’s stock in a transaction that occurred on Wednesday, October 30th. The shares were sold at an average price of $51.91, for a total value of $378,943.00. Following the completion of the sale, the executive vice president now owns 114,920 shares in the company, valued at approximately $5,965,497.20. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Robert I. Blum sold 5,000 shares of the business’s stock in a transaction on Friday, November 1st. The shares were 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 approximately $20,520,653.28. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 70,236 shares of company stock valued at $3,800,944 over the last ninety days. Insiders own 3.40% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of CYTK. Avior Wealth Management LLC increased its stake in shares of Cytokinetics by 57.1% in the third quarter. Avior Wealth Management LLC now owns 3,999 shares of the biopharmaceutical company’s stock worth $211,000 after acquiring an additional 1,454 shares during the last quarter. B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in shares of Cytokinetics during the 3rd quarter valued at about $248,000. Pathstone Holdings LLC grew its stake in shares of Cytokinetics by 17.0% in the 3rd quarter. Pathstone Holdings LLC now owns 34,560 shares of the biopharmaceutical company’s stock valued at $1,825,000 after buying an additional 5,027 shares in the last quarter. Swiss National Bank increased its holdings in Cytokinetics by 10.2% in the third quarter. Swiss National Bank now owns 215,500 shares of the biopharmaceutical company’s stock worth $11,378,000 after buying an additional 20,000 shares during the last quarter. Finally, Royce & Associates LP lifted its stake in Cytokinetics by 70.2% in the third quarter. Royce & Associates LP now owns 24,250 shares of the biopharmaceutical company’s stock valued at $1,280,000 after acquiring an additional 10,000 shares during the last quarter.

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.