Cytokinetics’ (CYTK) “Buy” Rating Reaffirmed at Truist Financial

Truist Financial restated their buy rating on shares of Cytokinetics (NASDAQ:CYTK) in a report issued on Monday, Benzinga reports. Truist Financial currently has a $86.00 price objective on the biopharmaceutical company’s stock.

A number of other analysts also recently issued reports on CYTK. Mizuho lowered their target price on Cytokinetics from $103.00 to $99.00 and set a buy rating on the stock in a research report on Wednesday, March 6th. Morgan Stanley reaffirmed an equal weight rating and issued a $90.00 target price (up previously from $60.00) on shares of Cytokinetics in a research report on Friday, January 5th. StockNews.com cut Cytokinetics from a hold rating to a sell rating in a report on Friday, January 5th. Oppenheimer reiterated an outperform rating and set a $107.00 price target on shares of Cytokinetics in a report on Monday, March 4th. Finally, Raymond James boosted their price objective on Cytokinetics from $63.00 to $92.00 and gave the stock an outperform rating in a report on Thursday, December 28th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of Moderate Buy and an average target price of $79.33.

Cytokinetics Trading Up 2.0 %

Shares of Cytokinetics stock opened at $74.19 on Monday. The company has a market capitalization of $7.64 billion, a PE ratio of -13.61 and a beta of 0.68. Cytokinetics has a 12 month low of $25.98 and a 12 month high of $110.25. The stock’s fifty day simple moving average is $72.69 and its 200 day simple moving average is $56.37.

Cytokinetics (NASDAQ:CYTK) last released its earnings results on Tuesday, February 27th. The biopharmaceutical company reported ($1.38) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.03) by ($0.35). The company had revenue of $1.70 million during the quarter, compared to analyst estimates of $7.62 million. The business’s revenue was down 10.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($1.45) earnings per share. Analysts predict that Cytokinetics will post -4.5 EPS for the current fiscal year.

Insider Transactions at Cytokinetics

In related news, Director John T. Henderson sold 5,000 shares of the business’s stock in a transaction on Friday, January 12th. The shares were sold at an average price of $85.14, for a total value of $425,700.00. Following the sale, the director now owns 42,632 shares of the company’s stock, valued at $3,629,688.48. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Cytokinetics news, EVP Fady Ibraham Malik sold 32,605 shares of the company’s stock in a transaction on Tuesday, February 6th. The shares were sold at an average price of $79.30, for a total transaction of $2,585,576.50. Following the sale, the executive vice president now owns 142,973 shares of the company’s stock, valued at $11,337,758.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director John T. Henderson sold 5,000 shares of the company’s stock in a transaction on Friday, January 12th. The shares were sold at an average price of $85.14, for a total transaction of $425,700.00. Following the sale, the director now directly owns 42,632 shares in the company, valued at approximately $3,629,688.48. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 100,209 shares of company stock worth $7,608,778. Corporate insiders own 3.80% of the company’s stock.

Institutional Trading of Cytokinetics

A number of institutional investors have recently bought and sold shares of the company. BlackRock Inc. boosted its position in Cytokinetics by 0.9% during the first quarter. BlackRock Inc. now owns 13,064,618 shares of the biopharmaceutical company’s stock valued at $480,908,000 after acquiring an additional 113,654 shares during the last quarter. Vanguard Group Inc. boosted its position in Cytokinetics by 2.5% during the fourth quarter. Vanguard Group Inc. now owns 11,016,889 shares of the biopharmaceutical company’s stock valued at $919,800,000 after acquiring an additional 273,565 shares during the last quarter. State Street Corp boosted its position in Cytokinetics by 7.1% during the second quarter. State Street Corp now owns 5,091,580 shares of the biopharmaceutical company’s stock valued at $166,087,000 after acquiring an additional 337,680 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its position in Cytokinetics by 220.7% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 3,244,250 shares of the biopharmaceutical company’s stock valued at $270,863,000 after acquiring an additional 2,232,623 shares during the last quarter. Finally, Geode Capital Management LLC boosted its position in Cytokinetics by 4.6% during the first quarter. Geode Capital Management LLC now owns 1,734,696 shares of the biopharmaceutical company’s stock valued at $61,044,000 after acquiring an additional 76,846 shares during 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.