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

Shares of Cytokinetics, Incorporated (NASDAQ:CYTK) have been assigned a consensus rating of “Moderate Buy” from the fifteen analysts that are covering the firm, Marketbeat reports. Two research analysts have rated the stock with a hold recommendation and thirteen have assigned a buy recommendation to the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $79.33.

A number of equities analysts recently issued reports on the company. StockNews.com cut Cytokinetics from a “hold” rating to a “sell” rating in a report on Friday, January 5th. UBS Group cut Cytokinetics from a “buy” rating to a “neutral” rating and increased their target price for the stock from $61.00 to $92.00 in a report on Wednesday, January 24th. Needham & Company LLC reiterated a “buy” rating and issued a $108.00 target price on shares of Cytokinetics in a report on Tuesday, April 9th. Oppenheimer reiterated an “outperform” rating and issued a $107.00 target price on shares of Cytokinetics in a report on Monday, March 4th. Finally, Mizuho cut their target price on Cytokinetics from $103.00 to $99.00 and set a “buy” rating on the stock in a report on Wednesday, March 6th.

Insider Activity

In other news, CEO Robert I. Blum sold 12,500 shares of the firm’s stock in a transaction on Wednesday, January 31st. The stock was sold at an average price of $79.57, for a total transaction of $994,625.00. Following the completion of the sale, the chief executive officer now directly owns 441,797 shares of the company’s stock, valued at approximately $35,153,787.29. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, CEO Robert I. Blum sold 12,500 shares of the firm’s stock in a transaction on Wednesday, January 31st. The stock was sold at an average price of $79.57, for a total transaction of $994,625.00. Following the completion of the sale, the chief executive officer now directly owns 441,797 shares of the company’s stock, valued at approximately $35,153,787.29. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Fady Ibraham Malik sold 32,605 shares of the firm’s stock in a transaction on 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 sale, the executive vice president now directly owns 142,973 shares of the company’s stock, valued at $11,337,758.90. The disclosure for this sale can be found here. Insiders sold a total of 125,876 shares of company stock valued at $9,269,877 in the last ninety days. 3.40% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Cytokinetics

Several large investors have recently added to or reduced their stakes in the company. Securian Asset Management Inc. purchased a new stake in Cytokinetics in the 1st quarter worth about $565,000. WCM Investment Management LLC purchased a new stake in Cytokinetics in the 1st quarter worth about $3,075,000. Amalgamated Bank increased its holdings in Cytokinetics by 25.6% in the 1st quarter. Amalgamated Bank now owns 51,298 shares of the biopharmaceutical company’s stock worth $3,597,000 after acquiring an additional 10,469 shares during the last quarter. New Mexico Educational Retirement Board purchased a new stake in Cytokinetics in the 1st quarter worth about $1,437,000. Finally, Fifth Third Bancorp increased its holdings in Cytokinetics by 94.1% in the 1st quarter. Fifth Third Bancorp now owns 656 shares of the biopharmaceutical company’s stock worth $46,000 after acquiring an additional 318 shares during the last quarter.

Cytokinetics Stock Up 0.8 %

Shares of CYTK stock opened at $65.34 on Friday. The company has a market cap of $6.83 billion, a price-to-earnings ratio of -11.99 and a beta of 0.68. Cytokinetics has a 52 week low of $25.98 and a 52 week high of $110.25. The firm has a 50 day moving average of $69.91 and a 200-day moving average of $59.82.

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