Cytokinetics (NASDAQ:CYTK) Coverage Initiated by Analysts at Barclays

Barclays initiated coverage on shares of Cytokinetics (NASDAQ:CYTK) in a research note published on Wednesday morning, MarketBeat.com reports. The brokerage issued an overweight rating and a $87.00 price target on the biopharmaceutical company’s stock.

Other equities research analysts also recently issued reports about the company. Weiss Ratings reiterated a “sell (d-)” rating on shares of Cytokinetics in a report on Wednesday, January 21st. JPMorgan Chase & Co. raised their price objective on shares of Cytokinetics from $70.00 to $74.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 20th. Cantor Fitzgerald reiterated an “overweight” rating on shares of Cytokinetics in a research note on Tuesday, October 21st. The Goldman Sachs Group set a $95.00 target price on shares of Cytokinetics and gave the stock a “buy” rating in a research note on Thursday, December 18th. Finally, Citizens Jmp raised their price target on shares of Cytokinetics from $78.00 to $88.00 and gave the stock a “market outperform” rating in a report on Monday, December 22nd. Sixteen 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 stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $87.00.

Cytokinetics Stock Up 1.8%

CYTK stock opened at $65.14 on Wednesday. The firm has a market cap of $7.96 billion, a price-to-earnings ratio of -10.36 and a beta of 0.55. The company’s fifty day simple moving average is $63.82 and its 200 day simple moving average is $54.37. Cytokinetics has a 12-month low of $29.31 and a 12-month high of $70.98.

Cytokinetics (NASDAQ:CYTK) last issued its quarterly earnings results on Wednesday, November 5th. The biopharmaceutical company reported ($1.54) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.59) by $0.05. The business had revenue of $1.94 million for the quarter, compared to analyst estimates of $6.05 million. The business’s revenue was up 318.1% on a year-over-year basis. During the same quarter in the previous year, the business posted ($1.36) earnings per share. Research analysts expect that Cytokinetics will post -5.24 earnings per share for the current year.

Insider Buying and Selling at Cytokinetics

In other Cytokinetics news, Director John T. Henderson sold 8,750 shares of the company’s stock in a transaction on Tuesday, December 2nd. The shares were sold at an average price of $63.90, for a total transaction of $559,125.00. Following the transaction, the director owned 74,578 shares in the company, valued at approximately $4,765,534.20. This represents a 10.50% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Fady Ibraham Malik sold 2,200 shares of Cytokinetics stock in a transaction dated Tuesday, December 16th. The shares were sold at an average price of $61.24, for a total transaction of $134,728.00. Following the transaction, the executive vice president owned 138,552 shares of the company’s stock, valued at $8,484,924.48. This represents a 1.56% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 150,169 shares of company stock worth $9,776,484 in the last ninety days. 3.40% of the stock is currently owned by corporate insiders.

Institutional Trading of Cytokinetics

Several institutional investors and hedge funds have recently modified their holdings of CYTK. M&T Bank Corp lifted its holdings in shares of Cytokinetics by 173.5% in the fourth quarter. M&T Bank Corp now owns 16,445 shares of the biopharmaceutical company’s stock valued at $1,045,000 after purchasing an additional 10,433 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH raised its position in Cytokinetics by 76.8% in the 4th quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 54,278 shares of the biopharmaceutical company’s stock valued at $3,449,000 after buying an additional 23,571 shares during the last quarter. Evergreen Capital Management LLC bought a new position in Cytokinetics during the 4th quarter valued at $216,000. TD Waterhouse Canada Inc. purchased a new position in Cytokinetics during the 4th quarter worth $32,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Cytokinetics by 12.9% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 36,414 shares of the biopharmaceutical company’s stock worth $2,314,000 after acquiring an additional 4,159 shares in the last quarter.

Cytokinetics News Summary

Here are the key news stories impacting Cytokinetics this week:

• Positive Sentiment: MYQORZO (aficamten) is now commercially available in the U.S. following FDA approval for adults with symptomatic obstructive hypertrophic cardiomyopathy (oHCM). Product is being supplied in 5, 10, 15 and 20 mg tablets — this is Cytokinetics’ first commercial product and represents the company’s initial revenue runway beyond R&D. MYQORZO Availability Release
• Positive Sentiment: Barclays initiated coverage with an “overweight” rating and an $87 price target — implying ~34% upside from current levels. New institutional coverage can boost investor confidence and volume. Benzinga
• Positive Sentiment: Marketing/awareness push: Cytokinetics partnered with Olympic gold medalist Sydney McLaughlin‑Levrone to raise HCM awareness. Higher disease awareness can support diagnosis rates and longer‑term uptake of MYQORZO. Awareness Campaign
• Neutral Sentiment: Analytical coverage: recent media pieces are assessing whether the stock looks undervalued after recent momentum — useful for framing risk/reward but not a direct operational catalyst. Valuation Analysis
• Neutral Sentiment: Short interest data published for January shows anomalous zeros and NaN values (days‑to‑cover reported as 0.0). This appears to be a reporting glitch rather than a material change in positioning; treat short‑interest figures as unreliable until corrected.
• Negative Sentiment: MYQORZO will be launched under a REMS program in the U.S., which restricts distribution and requires controlled prescribing/monitoring. REMS can limit initial prescription growth and complicate rapid market penetration, tempering near‑term revenue expectations. REMS Coverage

About Cytokinetics

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.