Cytokinetics, Incorporated (NASDAQ:CYTK) Receives $82.79 Consensus Target Price from Brokerages

Shares of Cytokinetics, Incorporated (NASDAQ:CYTK) have earned a consensus rating of “Moderate Buy” from the fifteen ratings firms that are currently covering the stock, Marketbeat.com reports. Two investment analysts have rated the stock with a hold recommendation and thirteen have given a buy recommendation to the company. The average 12-month target price among analysts that have covered the stock in the last year is $82.79.

A number of analysts recently issued reports on the company. JMP Securities reaffirmed a “market outperform” rating and issued a $78.00 target price on shares of Cytokinetics in a research report on Tuesday, January 14th. Stifel Nicolaus assumed coverage on Cytokinetics in a research report on Wednesday, January 22nd. They set a “buy” rating and a $80.00 price target on the stock. Needham & Company LLC reissued a “buy” rating and issued a $72.00 price objective on shares of Cytokinetics in a report on Monday, December 2nd. HC Wainwright restated a “buy” rating and set a $120.00 target price on shares of Cytokinetics in a report on Tuesday, January 21st. Finally, Royal Bank of Canada increased their price target on shares of Cytokinetics from $80.00 to $82.00 and gave the company an “outperform” rating in a research note on Wednesday, December 18th.

Insider Activity

In other Cytokinetics news, EVP Fady Ibraham Malik sold 6,342 shares of Cytokinetics stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $58.48, for a total value of $370,880.16. Following the completion of the sale, the executive vice president now owns 113,878 shares in the company, valued at $6,659,585.44. The trade was a 5.28 % 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, CEO Robert I. Blum sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $50.55, for a total transaction of $252,750.00. Following the transaction, the chief executive officer now directly owns 397,456 shares in the company, valued at $20,091,400.80. This represents a 1.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 37,464 shares of company stock valued at $1,929,566. 3.40% of the stock is owned by insiders.

Institutional Trading of Cytokinetics

Large investors have recently modified their holdings of the stock. UMB Bank n.a. lifted its position in Cytokinetics by 65.6% during the third quarter. UMB Bank n.a. now owns 601 shares of the biopharmaceutical company’s stock worth $32,000 after purchasing an additional 238 shares during the period. Blue Trust Inc. raised its position in shares of Cytokinetics by 225.9% in the 3rd quarter. Blue Trust Inc. now owns 981 shares of the biopharmaceutical company’s stock valued at $53,000 after buying an additional 680 shares in the last quarter. Values First Advisors Inc. bought a new stake in shares of Cytokinetics during the 3rd quarter worth approximately $54,000. Quarry LP boosted its position in shares of Cytokinetics by 233.3% during the 2nd quarter. Quarry LP now owns 2,000 shares of the biopharmaceutical company’s stock worth $108,000 after acquiring an additional 1,400 shares in the last quarter. Finally, R Squared Ltd bought a new position in Cytokinetics in the fourth quarter valued at approximately $133,000.

Cytokinetics Stock Down 1.0 %

Shares of Cytokinetics stock opened at $49.46 on Monday. The firm has a market cap of $5.84 billion, a PE ratio of -9.19 and a beta of 0.82. The business’s 50 day simple moving average is $48.75 and its 200 day simple moving average is $52.67. The company has a debt-to-equity ratio of 5.93, a quick ratio of 9.28 and a current ratio of 9.28. Cytokinetics has a 52-week low of $44.49 and a 52-week high of $84.05.

Cytokinetics (NASDAQ:CYTK) last posted its quarterly earnings data on Wednesday, November 6th. The biopharmaceutical company reported ($1.36) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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. During the same quarter in the previous year, the business earned ($1.35) EPS. The firm’s revenue was up 22.5% compared to the same quarter last year. On average, analysts predict that Cytokinetics will post -5.25 earnings per share for the current fiscal year.

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.