Cytokinetics, Incorporated (NASDAQ:CYTK) Stock Has Consensus Price Target of $106.67 According to Analysts

Cytokinetics, Incorporated (NASDAQ:CYTK) has been assigned a consensus rating of “Moderate Buy” from the twenty-one ratings firms that are currently covering the firm, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and nineteen have given a buy recommendation to the company. The average 1 year price objective among brokers that have issued a report on the stock in the last year is $106.67.

CYTK has been the subject of a number of analyst reports. HC Wainwright reissued a “buy” rating and issued a $140.00 price target on shares of Cytokinetics in a research report on Monday, October 19th. UBS Group reaffirmed a “buy” rating and set a $104.00 price objective on shares of Cytokinetics in a report on Wednesday, October 14th. Royal Bank Of Canada lifted their price objective on shares of Cytokinetics from $112.00 to $113.00 and gave the stock an “outperform” rating in a report on Thursday, October 8th. Cantor Fitzgerald reiterated an “overweight” rating on shares of Cytokinetics in a research note on Friday, September 11th. Finally, Needham & Company LLC increased their target price on shares of Cytokinetics from $102.00 to $112.00 and gave the company a “buy” rating in a report on Friday, August 7th.

Insider Activity

In other Cytokinetics news, Director B. Parshall sold 5,000 shares of the stock in a transaction dated Tuesday, September 1st. The shares were sold at an average price of $71.48, for a total value of $357,400.00. Following the completion of the sale, the director owned 10,784 shares in the company, valued at approximately $770,840.32. This trade represents a 31.68% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Robert Blum sold 97,926 shares of Cytokinetics stock in a transaction that occurred on Tuesday, September 15th. The stock was sold at an average price of $69.33, for a total transaction of $6,789,209.58. Following the transaction, the chief executive officer directly owned 385,320 shares in the company, valued at approximately $26,714,235.60. This represents a 20.26% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 173,426 shares of company stock valued at $11,934,640 in the last three months. 2.60% of the stock is owned by company insiders.

Hedge Funds Weigh In On Cytokinetics

Several institutional investors have recently modified their holdings of the business. Integrated Wealth Concepts LLC bought a new stake in Cytokinetics during the second quarter worth $36,000. Physician Wealth Advisors Inc. boosted its position in Cytokinetics by 810.2% in the third quarter. Physician Wealth Advisors Inc. now owns 446 shares of the biopharmaceutical company’s stock worth $29,000 after purchasing an additional 397 shares during the last quarter. V Square Quantitative Management LLC boosted its position in Cytokinetics by 71.5% in the third quarter. V Square Quantitative Management LLC now owns 458 shares of the biopharmaceutical company’s stock worth $30,000 after purchasing an additional 191 shares during the last quarter. Rockefeller Capital Management L.P. grew its stake in Cytokinetics by 842.6% in the 4th quarter. Rockefeller Capital Management L.P. now owns 641 shares of the biopharmaceutical company’s stock valued at $41,000 after purchasing an additional 573 shares during the period. Finally, Manchester Capital Management LLC bought a new position in Cytokinetics in the 3rd quarter valued at $43,000.

Cytokinetics Stock Up 1.9%

Shares of Cytokinetics stock opened at $56.18 on Friday. The company has a market cap of $7.83 billion, a PE ratio of -9.30 and a beta of 0.45. Cytokinetics has a 52 week low of $53.55 and a 52 week high of $88.31. The business has a 50 day moving average price of $65.04 and a 200-day moving average price of $69.88.

Cytokinetics (NASDAQ:CYTK) last posted its earnings results on Wednesday, November 4th. The biopharmaceutical company reported ($1.37) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.43) by $0.06. The company had revenue of $47.56 million during the quarter, compared to the consensus estimate of $41.88 million. The firm’s revenue for the quarter was up 2356.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($2.55) EPS. As a group, research analysts anticipate that Cytokinetics will post -5.84 EPS for the current year.

About Cytokinetics

Cytokinetics is a biopharmaceutical company focused on discovering and developing medicines that target the biology of muscle function. Its research centers on therapies for conditions involving impaired cardiac muscle performance. The company’s work includes aficamten, a cardiac myosin inhibitor developed for hypertrophic cardiomyopathy, and other drug candidates designed to affect muscle contraction. Cytokinetics conducts research and clinical development through programs that may involve patients and collaborators in multiple countries.