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

Shares of Cytokinetics, Incorporated (NASDAQ:CYTK) have been given a consensus rating of “Moderate Buy” by the eighteen ratings firms that are presently covering the company, MarketBeat.com reports. Two research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $82.00.

Several equities research analysts have issued reports on CYTK shares. Stifel Nicolaus began coverage on shares of Cytokinetics in a research note on Wednesday, January 22nd. They issued a “buy” rating and a $80.00 price target on the stock. Citigroup started coverage on Cytokinetics in a report on Friday, February 7th. They set a “buy” rating and a $86.00 target price on the stock. Morgan Stanley set a $67.00 price target on Cytokinetics in a research note on Friday, March 7th. HC Wainwright reiterated a “buy” rating and set a $120.00 price objective on shares of Cytokinetics in a research note on Friday, April 4th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $72.00 price objective on shares of Cytokinetics in a report on Tuesday.

Cytokinetics Stock Up 2.1 %

CYTK stock opened at $38.65 on Friday. The company has a debt-to-equity ratio of 5.93, a current ratio of 9.28 and a quick ratio of 9.28. The stock has a market capitalization of $4.58 billion, a P/E ratio of -7.18 and a beta of 0.94. Cytokinetics has a fifty-two week low of $32.74 and a fifty-two week high of $73.76. The business has a 50-day moving average of $43.17 and a 200-day moving average of $48.18.

Cytokinetics (NASDAQ:CYTK) last issued its quarterly earnings results on Thursday, February 27th. The biopharmaceutical company reported ($1.26) earnings per share for the quarter, topping the consensus estimate of ($1.29) by $0.03. The business had revenue of $16.93 million for the quarter, compared to the consensus estimate of $14.26 million. On average, sell-side analysts anticipate that Cytokinetics will post -5.24 earnings per share for the current fiscal year.

Insider Activity at Cytokinetics

In other news, EVP Fady Ibraham Malik sold 2,000 shares of Cytokinetics stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $45.92, for a total value of $91,840.00. Following the completion of the sale, the executive vice president now directly owns 116,071 shares in the company, valued at approximately $5,329,980.32. The trade was a 1.69 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Robert I. Blum sold 16,970 shares of the stock in a transaction that occurred on Thursday, March 6th. The stock was sold at an average price of $43.44, for a total value of $737,176.80. Following the sale, the chief executive officer now directly owns 364,181 shares in the company, valued at $15,820,022.64. This represents a 4.45 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 65,170 shares of company stock worth $2,766,739 in the last ninety days. 3.40% of the stock is owned by company insiders.

Institutional Trading of Cytokinetics

A number of institutional investors have recently modified their holdings of the stock. Jones Financial Companies Lllp raised its stake in Cytokinetics by 189.8% in the fourth quarter. Jones Financial Companies Lllp now owns 571 shares of the biopharmaceutical company’s stock valued at $27,000 after purchasing an additional 374 shares in the last quarter. Centricity Wealth Management LLC bought a new position in Cytokinetics in the 4th quarter valued at about $29,000. Parallel Advisors LLC raised its position in shares of Cytokinetics by 500.5% in the 1st quarter. Parallel Advisors LLC now owns 1,099 shares of the biopharmaceutical company’s stock valued at $44,000 after buying an additional 916 shares in the last quarter. AlphaQuest LLC raised its position in shares of Cytokinetics by 113,500.0% in the 4th quarter. AlphaQuest LLC now owns 1,136 shares of the biopharmaceutical company’s stock valued at $53,000 after buying an additional 1,135 shares in the last quarter. Finally, J.Safra Asset Management Corp lifted its holdings in shares of Cytokinetics by 62.1% during the 4th quarter. J.Safra Asset Management Corp now owns 1,751 shares of the biopharmaceutical company’s stock worth $83,000 after acquiring an additional 671 shares during the period.

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.