Cytokinetics (NASDAQ:CYTK) Price Target Raised to $80.00

Cytokinetics (NASDAQ:CYTK) had its target price upped by B. Riley from $74.00 to $80.00 in a report issued on Monday morning, Marketbeat.com reports. B. Riley currently has a buy rating on the biopharmaceutical company’s stock. B. Riley also issued estimates for Cytokinetics’ Q4 2025 earnings at ($1.64) EPS, FY2025 earnings at ($5.72) EPS, FY2026 earnings at ($6.04) EPS, FY2027 earnings at ($5.46) EPS, FY2028 earnings at ($3.39) EPS and FY2029 earnings at $0.21 EPS.

Several other equities research analysts have also recently issued reports on the company. Barclays boosted their price target on Cytokinetics from $53.00 to $71.00 and gave the company an “overweight” rating in a research note on Wednesday, September 3rd. Stifel Nicolaus upped their price target on shares of Cytokinetics from $87.00 to $96.00 and gave the stock a “buy” rating in a report on Tuesday, September 2nd. Needham & Company LLC reiterated a “buy” rating and set a $72.00 price target on shares of Cytokinetics in a report on Tuesday, September 2nd. Raymond James Financial began coverage on Cytokinetics in a report on Wednesday, July 30th. They issued a “market perform” rating for the company. Finally, HC Wainwright reiterated a “buy” rating and set a $120.00 price target on shares of Cytokinetics in a report on Monday. One investment analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, Cytokinetics presently has an average rating of “Moderate Buy” and a consensus price target of $75.71.

Cytokinetics Stock Performance

NASDAQ:CYTK opened at $48.29 on Monday. The stock’s 50-day simple moving average is $41.38 and its 200 day simple moving average is $38.14. The company has a market cap of $5.78 billion, a P/E ratio of -9.47 and a beta of 0.62. Cytokinetics has a 52-week low of $29.31 and a 52-week high of $59.39.

Cytokinetics (NASDAQ:CYTK) last announced its quarterly earnings results on Thursday, August 7th. The biopharmaceutical company reported ($1.12) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.34) by $0.22. The business had revenue of $66.77 million for the quarter, compared to analyst estimates of $1.95 million. Cytokinetics’s quarterly revenue was up 26727.3% compared to the same quarter last year. During the same period last year, the firm earned ($1.31) EPS. As a group, equities analysts predict that Cytokinetics will post -5.24 earnings per share for the current fiscal year.

Insider Activity at Cytokinetics

In related news, CEO Robert I. Blum sold 5,000 shares of the firm’s stock in a transaction dated Monday, July 14th. The shares were sold at an average price of $38.15, for a total value of $190,750.00. Following the transaction, the chief executive officer owned 393,108 shares of the company’s stock, valued at approximately $14,997,070.20. This trade represents a 1.26% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Edward M. Md Kaye sold 6,756 shares of the firm’s stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $50.00, for a total transaction of $337,800.00. Following the completion of the transaction, the director directly owned 23,230 shares in the company, valued at approximately $1,161,500. The trade was a 22.53% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 33,756 shares of company stock valued at $1,452,550. 2.70% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Cytokinetics

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. EverSource Wealth Advisors LLC increased its stake in Cytokinetics by 723.7% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 766 shares of the biopharmaceutical company’s stock valued at $25,000 after buying an additional 673 shares during the last quarter. Fifth Third Bancorp increased its stake 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 purchasing an additional 291 shares during the last quarter. Hantz Financial Services Inc. increased its stake in shares of Cytokinetics by 2,872.7% during the 2nd quarter. Hantz Financial Services Inc. now owns 1,308 shares of the biopharmaceutical company’s stock worth $43,000 after purchasing an additional 1,264 shares during the last quarter. Parallel Advisors LLC increased its stake in shares of Cytokinetics by 500.5% during the 1st quarter. Parallel Advisors LLC now owns 1,099 shares of the biopharmaceutical company’s stock worth $44,000 after purchasing an additional 916 shares during the last quarter. Finally, GAMMA Investing LLC increased its stake in shares of Cytokinetics by 281.0% during the 1st quarter. GAMMA Investing LLC now owns 1,120 shares of the biopharmaceutical company’s stock worth $45,000 after purchasing an additional 826 shares during the last quarter.

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.