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

Cytokinetics, Incorporated (NASDAQ:CYTK) has been given an average recommendation of “Moderate Buy” by the eighteen analysts that are covering the company, MarketBeat Ratings reports. Three investment analysts have rated the stock with a hold recommendation, fourteen have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $74.44.

Several research firms have recently commented on CYTK. Royal Bank of Canada decreased their price target on shares of Cytokinetics from $82.00 to $80.00 and set an “outperform” rating for the company in a report on Wednesday, May 7th. JMP Securities reaffirmed a “market outperform” rating and issued a $78.00 price target on shares of Cytokinetics in a report on Thursday, April 10th. Evercore ISI raised shares of Cytokinetics to a “strong-buy” rating in a report on Friday, February 7th. HC Wainwright reaffirmed a “buy” rating and issued a $120.00 price target on shares of Cytokinetics in a report on Monday, April 21st. Finally, Bank of America decreased their price target on shares of Cytokinetics from $62.00 to $54.00 and set a “neutral” rating for the company in a report on Tuesday, April 15th.

Insiders Place Their Bets

In other Cytokinetics news, EVP Andrew Callos sold 4,002 shares of the business’s stock in a transaction dated Monday, May 5th. The shares were sold at an average price of $36.68, for a total transaction of $146,793.36. Following the sale, the executive vice president now directly owns 60,687 shares in the company, valued at approximately $2,225,999.16. The trade was a 6.19% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Wendall Wierenga sold 20,000 shares of the business’s stock in a transaction dated Monday, April 21st. The stock was sold at an average price of $38.46, for a total transaction of $769,200.00. Following the sale, the director now owns 24,848 shares in the company, valued at $955,654.08. This trade represents a 44.60% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 95,362 shares of company stock worth $3,899,118. 2.70% of the stock is owned by corporate insiders.

Institutional Trading of Cytokinetics

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Fifth Third Bancorp raised its position in shares of Cytokinetics by 42.2% during the 1st quarter. Fifth Third Bancorp now owns 981 shares of the biopharmaceutical company’s stock worth $39,000 after buying an additional 291 shares in the last quarter. State of Michigan Retirement System raised its holdings in shares of Cytokinetics by 1.1% in the 1st quarter. State of Michigan Retirement System now owns 28,200 shares of the biopharmaceutical company’s stock worth $1,133,000 after purchasing an additional 300 shares in the last quarter. Louisiana State Employees Retirement System raised its holdings in shares of Cytokinetics by 0.9% in the 1st quarter. Louisiana State Employees Retirement System now owns 33,100 shares of the biopharmaceutical company’s stock worth $1,330,000 after purchasing an additional 300 shares in the last quarter. State of Alaska Department of Revenue raised its holdings in shares of Cytokinetics by 2.7% in the 1st quarter. State of Alaska Department of Revenue now owns 13,820 shares of the biopharmaceutical company’s stock worth $555,000 after purchasing an additional 365 shares in the last quarter. Finally, Jones Financial Companies Lllp raised its holdings in shares of Cytokinetics by 189.8% in the 4th quarter. Jones Financial Companies Lllp now owns 571 shares of the biopharmaceutical company’s stock worth $27,000 after purchasing an additional 374 shares in the last quarter.

Cytokinetics Price Performance

Shares of CYTK stock opened at $30.61 on Wednesday. The firm has a market cap of $3.66 billion, a P/E ratio of -5.69 and a beta of 0.81. The company has a debt-to-equity ratio of 5.93, a current ratio of 9.28 and a quick ratio of 9.28. Cytokinetics has a 1-year low of $30.46 and a 1-year high of $61.40. The firm has a fifty day moving average of $39.69 and a two-hundred day moving average of $45.68.

Cytokinetics (NASDAQ:CYTK) last announced its quarterly earnings data on Tuesday, May 6th. The biopharmaceutical company reported ($1.36) earnings per share for the quarter, topping the consensus estimate of ($1.41) by $0.05. The company had revenue of $1.60 million for the quarter, compared to analyst estimates of $2.77 million. Cytokinetics’s revenue was up 89.1% on a year-over-year basis. During the same period in the prior year, the business earned ($1.33) earnings per share. As a group, research analysts anticipate that Cytokinetics will post -5.24 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.