Cytokinetics’ (CYTK) “Buy” Rating Reiterated at HC Wainwright

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

Several other brokerages also recently issued reports on CYTK. Morgan Stanley set a $67.00 price target on shares of Cytokinetics in a report on Friday, March 7th. Citigroup assumed coverage on shares of Cytokinetics in a research note on Friday, February 7th. They issued a “buy” rating and a $86.00 target price for the company. Evercore ISI upgraded Cytokinetics to a “strong-buy” rating in a research report on Friday, February 7th. JMP Securities reiterated a “market outperform” rating and issued a $78.00 price objective on shares of Cytokinetics in a research report on Friday, February 7th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $72.00 price objective on shares of Cytokinetics in a research note on Thursday, February 6th. Two investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $82.00.

Cytokinetics Trading Down 7.8 %

CYTK stock opened at $37.36 on Friday. Cytokinetics has a 1-year low of $36.89 and a 1-year high of $75.71. 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 business’s 50 day moving average is $44.93 and its 200-day moving average is $48.93. The firm has a market cap of $4.42 billion, a P/E ratio of -6.94 and a beta of 0.94.

Cytokinetics (NASDAQ:CYTK) last released its quarterly earnings data on Thursday, February 27th. The biopharmaceutical company reported ($1.26) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.29) by $0.03. The company had revenue of $16.93 million for the quarter, compared to analyst estimates of $14.26 million. Equities analysts anticipate that Cytokinetics will post -5.24 earnings per share for the current fiscal year.

Insider Buying and Selling at Cytokinetics

In other news, EVP Fady Ibraham Malik sold 2,000 shares of the company’s stock in a transaction dated Tuesday, January 7th. The stock was sold at an average price of $49.32, for a total value of $98,640.00. Following the completion of the sale, the executive vice president now directly owns 116,071 shares of the company’s stock, valued at $5,724,621.72. This represents a 1.69 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Robert I. Blum sold 16,970 shares of the stock in a transaction that occurred on Thursday, March 6th. The shares were sold at an average price of $43.44, for a total transaction of $737,176.80. Following the completion of the sale, the chief executive officer now owns 364,181 shares in the company, valued at $15,820,022.64. This represents a 4.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 59,284 shares of company stock valued at $2,578,268. 3.40% of the stock is currently owned by company insiders.

Institutional Trading of Cytokinetics

Several hedge funds have recently added to or reduced their stakes in CYTK. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Cytokinetics by 19.4% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 26,376 shares of the biopharmaceutical company’s stock worth $1,393,000 after acquiring an additional 4,282 shares in the last quarter. Janus Henderson Group PLC grew its position in shares of Cytokinetics by 17.2% in the 3rd quarter. Janus Henderson Group PLC now owns 1,143,830 shares of the biopharmaceutical company’s stock valued at $60,399,000 after purchasing an additional 167,501 shares during the period. Quarry LP increased its stake in Cytokinetics by 50.0% during the 3rd quarter. Quarry LP now owns 3,000 shares of the biopharmaceutical company’s stock worth $158,000 after purchasing an additional 1,000 shares in the last quarter. Stifel Financial Corp raised its holdings in Cytokinetics by 8.5% during the 3rd quarter. Stifel Financial Corp now owns 25,067 shares of the biopharmaceutical company’s stock worth $1,324,000 after buying an additional 1,959 shares during the period. Finally, Two Sigma Advisers LP acquired a new stake in Cytokinetics during the 3rd quarter worth approximately $11,336,000.

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.