Cytokinetics, Incorporated (NASDAQ:CYTK) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Shares of Cytokinetics, Incorporated (NASDAQ:CYTK) have earned an average recommendation of “Moderate Buy” from the nineteen research firms that are presently covering the company, MarketBeat.com reports. Three research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $76.88.

A number of research analysts recently commented on CYTK shares. Needham & Company LLC reaffirmed a “buy” rating and issued a $72.00 price target on shares of Cytokinetics in a research note on Friday, May 2nd. Citigroup initiated coverage on shares of Cytokinetics in a report on Friday, February 7th. They set a “buy” rating and a $86.00 price target for the company. Stifel Nicolaus started coverage on shares of Cytokinetics in a research note on Wednesday, January 22nd. They issued a “buy” rating and a $80.00 price objective on the stock. Evercore ISI upgraded Cytokinetics to a “strong-buy” rating in a research note on Friday, February 7th. Finally, Bank of America decreased their price target on Cytokinetics from $62.00 to $54.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 15th.

Cytokinetics Stock Performance

NASDAQ CYTK opened at $34.05 on Wednesday. Cytokinetics has a 12-month low of $32.74 and a 12-month high of $68.44. The firm has a 50-day moving average price of $40.88 and a two-hundred day moving average price of $46.41. The company has a market capitalization of $4.06 billion, a P/E ratio of -6.33 and a beta of 0.81. The company has a quick ratio of 9.28, a current ratio of 9.28 and a debt-to-equity ratio of 5.93.

Cytokinetics (NASDAQ:CYTK) last issued its quarterly earnings results on Tuesday, May 6th. The biopharmaceutical company reported ($1.36) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.41) by $0.05. The company had revenue of $1.60 million during the quarter, compared to the consensus estimate of $2.77 million. The company’s quarterly revenue was up 89.1% on a year-over-year basis. During the same quarter last year, the firm posted ($1.33) earnings per share. Analysts anticipate that Cytokinetics will post -5.24 earnings per share for the current year.

Insider Activity at Cytokinetics

In related news, EVP Andrew Callos sold 2,886 shares of the firm’s stock in a transaction that occurred on Monday, April 7th. The stock was sold at an average price of $35.78, for a total transaction of $103,261.08. Following the completion of the sale, the executive vice president now owns 64,689 shares of the company’s stock, valued at $2,314,572.42. This trade represents a 4.27 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Fady Ibraham Malik sold 2,000 shares of the business’s stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $45.98, for a total value of $91,960.00. Following the completion of the transaction, the executive vice president now directly owns 116,071 shares in the company, valued at approximately $5,336,944.58. This trade represents a 1.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 95,362 shares of company stock worth $3,899,118 over the last ninety days. Insiders own 2.70% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of CYTK. Vanguard Group Inc. raised its holdings in shares of Cytokinetics by 1.3% during the fourth quarter. Vanguard Group Inc. now owns 11,915,821 shares of the biopharmaceutical company’s stock valued at $560,520,000 after purchasing an additional 154,216 shares during the period. T. Rowe Price Investment Management Inc. raised its stake in Cytokinetics by 11.0% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 10,752,123 shares of the biopharmaceutical company’s stock worth $505,780,000 after buying an additional 1,062,136 shares during the period. Deep Track Capital LP boosted its holdings in Cytokinetics by 296.9% in the fourth quarter. Deep Track Capital LP now owns 2,500,000 shares of the biopharmaceutical company’s stock worth $117,600,000 after acquiring an additional 1,870,094 shares in the last quarter. Vestal Point Capital LP grew its stake in Cytokinetics by 56.7% in the fourth quarter. Vestal Point Capital LP now owns 2,350,000 shares of the biopharmaceutical company’s stock valued at $110,544,000 after acquiring an additional 850,000 shares during the period. Finally, Marshall Wace LLP increased its holdings in shares of Cytokinetics by 14.9% during the fourth quarter. Marshall Wace LLP now owns 2,153,313 shares of the biopharmaceutical company’s stock valued at $101,292,000 after acquiring an additional 279,612 shares in the last quarter.

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.