Cytokinetics (NASDAQ:CYTK) PT Set at $14.00 by Piper Jaffray Companies

Cytokinetics (NASDAQ:CYTK) has been given a $14.00 price target by equities researchers at Piper Jaffray Companies in a research note issued on Monday, TipRanks reports. The firm currently has a “buy” rating on the biopharmaceutical company’s stock. Piper Jaffray Companies’ target price indicates a potential upside of 20.69% from the stock’s previous close.

A number of other equities analysts have also recently commented on CYTK. Cantor Fitzgerald set a $8.00 price target on BioDelivery Sciences International and gave the stock a “buy” rating in a research note on Friday, May 10th. ValuEngine cut Yext from a “strong-buy” rating to a “buy” rating in a research note on Friday, May 10th. Zacks Investment Research raised DLH from a “sell” rating to a “hold” rating in a research note on Tuesday, July 9th. BidaskClub cut Waterstone Financial from a “hold” rating to a “sell” rating in a research note on Friday, June 21st. Finally, HC Wainwright boosted their target price on Cytokinetics from $21.00 to $26.00 and gave the company a “buy” rating in a research note on Monday, May 6th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. The company has an average rating of “Buy” and an average price target of $15.00.

NASDAQ:CYTK traded up $0.02 during mid-day trading on Monday, reaching $11.60. The stock had a trading volume of 207,080 shares, compared to its average volume of 516,669. The company has a 50 day moving average price of $10.64. The company has a market capitalization of $668.40 million, a PE ratio of -5.95 and a beta of 1.69. Cytokinetics has a one year low of $5.75 and a one year high of $11.86. The company has a quick ratio of 7.09, a current ratio of 7.09 and a debt-to-equity ratio of 12.35.

Cytokinetics (NASDAQ:CYTK) last released its earnings results on Thursday, May 9th. The biopharmaceutical company reported ($0.54) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.47) by ($0.07). The firm had revenue of $8.46 million during the quarter, compared to the consensus estimate of $6.21 million. Cytokinetics had a negative return on equity of 269.27% and a negative net margin of 303.70%. Equities research analysts anticipate that Cytokinetics will post -1.85 earnings per share for the current year.

In other news, CEO Robert I. Blum sold 6,000 shares of the business’s stock in a transaction that occurred on Monday, July 15th. The stock was sold at an average price of $10.94, for a total transaction of $65,640.00. Following the transaction, the chief executive officer now directly owns 256,022 shares of the company’s stock, valued at $2,800,880.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders have sold 16,500 shares of company stock worth $168,690 over the last three months. Insiders own 5.70% of the company’s stock.

A number of hedge funds have recently modified their holdings of the stock. BlackRock Inc. grew its stake in Cytokinetics by 0.3% in the fourth quarter. BlackRock Inc. now owns 8,726,571 shares of the biopharmaceutical company’s stock worth $55,153,000 after purchasing an additional 28,184 shares during the period. Wasatch Advisors Inc. grew its stake in Cytokinetics by 29.8% in the first quarter. Wasatch Advisors Inc. now owns 3,188,487 shares of the biopharmaceutical company’s stock worth $25,795,000 after purchasing an additional 731,682 shares during the period. Great Point Partners LLC grew its stake in Cytokinetics by 45.6% in the fourth quarter. Great Point Partners LLC now owns 3,173,288 shares of the biopharmaceutical company’s stock worth $20,055,000 after purchasing an additional 993,600 shares during the period. FMR LLC grew its stake in Cytokinetics by 3.9% in the first quarter. FMR LLC now owns 1,926,824 shares of the biopharmaceutical company’s stock worth $15,589,000 after purchasing an additional 73,141 shares during the period. Finally, Pinnacle Associates Ltd. grew its stake in Cytokinetics by 1.3% in the first quarter. Pinnacle Associates Ltd. now owns 600,388 shares of the biopharmaceutical company’s stock worth $4,857,000 after purchasing an additional 7,610 shares during the period. 69.29% of the stock is currently owned by institutional investors.

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 in which muscle performance is compromised and/or declining. The company is developing small molecule drug candidates primarily engineered to increase muscle function and contractility.

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