Cytokinetics (NASDAQ:CYTK) Price Target Raised to $84.00 at Needham & Company LLC

Cytokinetics (NASDAQ:CYTK) had its price objective boosted by Needham & Company LLC from $72.00 to $84.00 in a report published on Monday, MarketBeat.com reports. The brokerage currently has a buy rating on the biopharmaceutical company’s stock.

Several other equities research analysts have also recently commented on the stock. Wall Street Zen cut shares of Cytokinetics from a “hold” rating to a “sell” rating in a research report on Saturday, November 8th. Royal Bank Of Canada raised their price objective on shares of Cytokinetics from $82.00 to $87.00 and gave the stock an “outperform” rating in a report on Tuesday, November 11th. Bank of America lifted their price objective on Cytokinetics from $52.00 to $56.00 and gave the company a “neutral” rating in a research report on Thursday, October 2nd. HC Wainwright increased their target price on Cytokinetics from $120.00 to $136.00 and gave the stock a “buy” rating in a research report on Monday. Finally, B. Riley restated a “buy” rating and set a $90.00 price target (up from $80.00) on shares of Cytokinetics in a research report on Monday, November 10th. Fifteen research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $83.61.

Cytokinetics Stock Performance

Shares of CYTK stock opened at $65.60 on Monday. Cytokinetics has a fifty-two week low of $29.31 and a fifty-two week high of $70.98. The firm has a market cap of $8.02 billion, a P/E ratio of -10.43 and a beta of 0.58. The business’s 50 day moving average price is $62.83 and its 200-day moving average price is $48.88.

Cytokinetics (NASDAQ:CYTK) last announced its quarterly earnings results on Wednesday, November 5th. The biopharmaceutical company reported ($1.54) EPS for the quarter, topping analysts’ consensus estimates of ($1.59) by $0.05. The business had revenue of $1.94 million during the quarter, compared to analysts’ expectations of $6.05 million. The business’s revenue was up 318.1% compared to the same quarter last year. During the same period in the previous year, the business earned ($1.36) EPS. As a group, equities analysts predict that Cytokinetics will post -5.24 EPS for the current year.

Insider Buying and Selling

In related news, EVP Andrew Callos sold 1,042 shares of the firm’s stock in a transaction that occurred on Monday, December 8th. The stock was sold at an average price of $65.96, for a total transaction of $68,730.32. Following the completion of the transaction, the executive vice president owned 50,660 shares of the company’s stock, valued at $3,341,533.60. This trade represents a 2.02% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Edward M. Md Kaye sold 28,064 shares of the business’s stock in a transaction on Monday, December 1st. The stock was sold at an average price of $66.72, for a total value of $1,872,430.08. Following the completion of the sale, the director directly owned 9,977 shares in the company, valued at $665,665.44. This trade represents a 73.77% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 148,494 shares of company stock worth $9,488,218 over the last three months. Corporate insiders own 3.40% of the company’s stock.

Institutional Trading of Cytokinetics

A number of institutional investors and hedge funds have recently bought and sold shares of CYTK. EverSource Wealth Advisors LLC grew its holdings in shares of Cytokinetics by 723.7% during the second 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. Quarry LP bought a new position in Cytokinetics in the 3rd quarter valued at approximately $30,000. Advisory Services Network LLC bought a new position in Cytokinetics in the 3rd quarter valued at approximately $32,000. Johnson Financial Group Inc. purchased a new stake in Cytokinetics during the 3rd quarter valued at $40,000. Finally, Hantz Financial Services Inc. increased its holdings in shares of Cytokinetics by 2,872.7% in 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 in the last quarter.

More Cytokinetics News

Here are the key news stories impacting Cytokinetics this week:

• Positive Sentiment: FDA approval of Myqorzo turns Cytokinetics into a commercial-stage biotech with a clear cardiology franchise and a long-term growth runway. This is the primary catalyst lifting the stock. Cytokinetics Wins FDA Nod For Heart Drug Myqorzo Zacks: Cytokinetics Wins FDA Approval
• Positive Sentiment: Analysts are raising price targets across the board (Barclays, Morgan Stanley, Needham, Citizens JMP, BofA), reflecting higher revenue and commercial assumptions post-approval — this supports additional buying and sets higher valuation anchors. Links to representative reports: Barclays, Morgan Stanley, BofA. Barclays raises PT to $87 Morgan Stanley raises PT to $71 BofA raises PT to $64
• Positive Sentiment: Product label differences give Myqorzo practical commercial advantages versus the incumbent (Camzyos) — notably flexible dosing that may ease prescribing and titration, supporting adoption and patient preference goals. Seeking Alpha: Small Label Differences With Big Commercial Stakes
• Positive Sentiment: Unusual options flow: a big spike in call buying signals increased speculative and/or institutional bullish interest that can amplify short-term upside and liquidity. (Internal trading item)
• Neutral Sentiment: Company-management commentary and the full conference-transcript provide color on commercialization plans and launch cadence; useful for modeling uptake but not immediately price-moving beyond the approval itself. Seeking Alpha: MYQORZO approval transcript
• Negative Sentiment: Management expects gradual adoption (targeting mid‑high 20% category penetration by end‑2026) and anticipates reliance on patient-assistance programs — this implies a ramp that may be slower than some investors hope and could pressure near-term revenue/margin visibility. Seeking Alpha: Small Label Differences With Big Commercial Stakes

Cytokinetics Company Profile

Cytokinetics, Inc is a late‐stage biopharmaceutical company focused on the discovery and development of novel small‐molecule therapeutics that modulate muscle function. Founded in 1998 and headquartered in South San Francisco, California, the company applies its proprietary insights in muscle biology to address diseases characterized by impaired muscle performance. Its research spans both cardiac and skeletal muscle targets, aiming to deliver innovative medicines for conditions with significant unmet medical need.

The company’s most advanced program, omecamtiv mecarbil, is being evaluated for the treatment of heart failure by enhancing cardiac muscle contractility.