Cytokinetics, Incorporated (NASDAQ:CYTK) Given Average Recommendation of “Moderate Buy” by Brokerages

Cytokinetics, Incorporated (NASDAQ:CYTK) has earned an average rating of “Moderate Buy” from the fifteen research firms that are currently covering the stock, Marketbeat reports. Two equities research analysts have rated the stock with a hold recommendation and thirteen have given a buy recommendation to the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $79.33.

A number of brokerages have recently issued reports on CYTK. UBS Group lowered shares of Cytokinetics from a “buy” rating to a “neutral” rating and boosted their price target for the stock from $61.00 to $92.00 in a research note on Wednesday, January 24th. Mizuho reduced their price target on Cytokinetics from $103.00 to $99.00 and set a “buy” rating for the company in a report on Wednesday, March 6th. StockNews.com downgraded Cytokinetics from a “hold” rating to a “sell” rating in a research note on Friday, January 5th. Morgan Stanley reiterated an “equal weight” rating and issued a $90.00 price objective (up previously from $60.00) on shares of Cytokinetics in a research report on Friday, January 5th. Finally, Needham & Company LLC restated a “buy” rating and set a $108.00 target price on shares of Cytokinetics in a research report on Tuesday, April 9th.

Cytokinetics Trading Up 3.3 %

Cytokinetics stock opened at $63.37 on Friday. The stock has a market capitalization of $6.63 billion, a price-to-earnings ratio of -11.63 and a beta of 0.68. The stock has a 50 day moving average of $69.31 and a two-hundred day moving average of $60.56. Cytokinetics has a twelve month low of $25.98 and a twelve month high of $110.25.

Cytokinetics (NASDAQ:CYTK) last posted its quarterly earnings data on Tuesday, February 27th. The biopharmaceutical company reported ($1.38) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.03) by ($0.35). The company had revenue of $1.70 million for the quarter, compared to analysts’ expectations of $7.62 million. Cytokinetics’s revenue was down 10.5% compared to the same quarter last year. During the same quarter last year, the business posted ($1.45) EPS. Equities analysts predict that Cytokinetics will post -4.5 earnings per share for the current year.

Insider Buying and Selling at Cytokinetics

In other Cytokinetics news, EVP Fady Ibraham Malik sold 32,605 shares of the stock in a transaction on Tuesday, February 6th. The stock was sold at an average price of $79.30, for a total transaction of $2,585,576.50. Following the sale, the executive vice president now owns 142,973 shares in the company, valued at approximately $11,337,758.90. The sale was disclosed in a legal filing with the SEC, which is available through this link. In related news, EVP Fady Ibraham Malik sold 32,605 shares of the business’s stock in a transaction dated Tuesday, February 6th. The shares were sold at an average price of $79.30, for a total value of $2,585,576.50. Following the completion of the transaction, the executive vice president now owns 142,973 shares of the company’s stock, valued at approximately $11,337,758.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director John T. Henderson sold 10,562 shares of the company’s stock in a transaction dated Thursday, April 25th. The shares were sold at an average price of $64.54, for a total transaction of $681,671.48. Following the completion of the transaction, the director now owns 32,070 shares in the company, valued at $2,069,797.80. The disclosure for this sale can be found here. Insiders have sold 113,376 shares of company stock valued at $8,275,252 over the last quarter. Corporate insiders own 3.40% of the company’s stock.

Institutional Trading of Cytokinetics

Hedge funds and other institutional investors have recently bought and sold shares of the company. Fifth Third Bancorp grew its holdings in Cytokinetics by 94.1% in the 1st quarter. Fifth Third Bancorp now owns 656 shares of the biopharmaceutical company’s stock valued at $46,000 after buying an additional 318 shares during the period. China Universal Asset Management Co. Ltd. grew its holdings in Cytokinetics by 96.4% in the third quarter. China Universal Asset Management Co. Ltd. now owns 2,463 shares of the biopharmaceutical company’s stock valued at $73,000 after purchasing an additional 1,209 shares during the period. GAMMA Investing LLC acquired a new position in Cytokinetics during the fourth quarter worth approximately $80,000. Sage Rhino Capital LLC acquired a new position in Cytokinetics during the fourth quarter worth approximately $204,000. Finally, Caprock Group LLC purchased a new position in Cytokinetics during the fourth quarter worth approximately $216,000.

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.