Cantor Fitzgerald Boosts Earnings Estimates for Cytokinetics

Cytokinetics, Incorporated (NASDAQ:CYTK) – Equities researchers at Cantor Fitzgerald raised their FY2025 earnings per share estimates for Cytokinetics in a research note issued on Thursday, March 27th. Cantor Fitzgerald analyst C. Duncan now forecasts that the biopharmaceutical company will post earnings per share of ($4.98) for the year, up from their previous estimate of ($5.28). The consensus estimate for Cytokinetics’ current full-year earnings is ($5.24) per share.

Cytokinetics (NASDAQ:CYTK) last issued its earnings results on Thursday, February 27th. The biopharmaceutical company reported ($1.26) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.29) by $0.03. The company had revenue of $16.93 million during the quarter, compared to analysts’ expectations of $14.26 million.

Several other research firms have also recently weighed in on CYTK. Morgan Stanley set a $67.00 price target on shares of Cytokinetics in a research note on Friday, March 7th. Needham & Company LLC reissued a “buy” rating and set a $72.00 target price on shares of Cytokinetics in a research note on Thursday, February 6th. Stifel Nicolaus began coverage on Cytokinetics in a research report on Wednesday, January 22nd. They issued a “buy” rating and a $80.00 target price on the stock. Citigroup started coverage on Cytokinetics in a report on Friday, February 7th. They set a “buy” rating and a $86.00 price target for the company. Finally, JMP Securities restated a “market outperform” rating and issued a $78.00 price objective on shares of Cytokinetics in a report on Friday, February 7th. Two investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Cytokinetics has an average rating of “Moderate Buy” and an average price target of $82.00.

Cytokinetics Price Performance

Cytokinetics stock opened at $37.50 on Monday. The company has a current ratio of 9.28, a quick ratio of 9.28 and a debt-to-equity ratio of 5.93. The company has a 50-day moving average price of $45.47 and a 200 day moving average price of $49.29. Cytokinetics has a 12-month low of $37.46 and a 12-month high of $75.71. The stock has a market cap of $4.44 billion, a P/E ratio of -6.97 and a beta of 0.95.

Insider Activity

In other Cytokinetics news, EVP Andrew Callos sold 3,341 shares of the stock in a transaction that occurred on Thursday, March 6th. The shares were sold at an average price of $43.27, for a total value of $144,565.07. Following the sale, the executive vice president now directly owns 64,434 shares of the company’s stock, valued at approximately $2,788,059.18. This represents a 4.93 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Fady Ibraham Malik sold 2,000 shares of the firm’s stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $45.92, for a total transaction of $91,840.00. Following the completion of the sale, the executive vice president now owns 116,071 shares in the company, valued at $5,329,980.32. The trade was a 1.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 58,834 shares of company stock worth $2,560,525. Corporate insiders own 3.40% of the company’s stock.

Hedge Funds Weigh In On Cytokinetics

Large investors have recently bought and sold shares of the business. Vanguard Group Inc. boosted its position in shares of Cytokinetics by 1.3% during the 4th quarter. Vanguard Group Inc. now owns 11,915,821 shares of the biopharmaceutical company’s stock worth $560,520,000 after acquiring an additional 154,216 shares in the last quarter. T. Rowe Price Investment Management Inc. boosted its holdings in Cytokinetics by 11.0% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 10,752,123 shares of the biopharmaceutical company’s stock valued at $505,780,000 after purchasing an additional 1,062,136 shares in the last quarter. Geode Capital Management LLC increased its stake in Cytokinetics by 4.0% in the third quarter. Geode Capital Management LLC now owns 2,848,584 shares of the biopharmaceutical company’s stock valued at $150,433,000 after purchasing an additional 109,938 shares during the last quarter. Deep Track Capital LP raised its holdings in Cytokinetics by 296.9% during the fourth quarter. Deep Track Capital LP now owns 2,500,000 shares of the biopharmaceutical company’s stock worth $117,600,000 after purchasing an additional 1,870,094 shares in the last quarter. Finally, Vestal Point Capital LP lifted its position in shares of Cytokinetics by 56.7% during the 4th quarter. Vestal Point Capital LP now owns 2,350,000 shares of the biopharmaceutical company’s stock worth $110,544,000 after buying an additional 850,000 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.