Cytokinetics,’s (CYTK) Buy Rating Reaffirmed at HC Wainwright

Cytokinetics, Incorporated (NASDAQ:CYTK)‘s stock had its “buy” rating restated by equities research analysts at HC Wainwright in a report released on Wednesday. They presently have a $26.00 target price on the biopharmaceutical company’s stock. HC Wainwright’s target price indicates a potential upside of 81.82% from the stock’s current price.

A number of other research analysts have also weighed in on CYTK. ValuEngine raised Cytokinetics, from a “sell” rating to a “hold” rating in a report on Friday, June 2nd. Zacks Investment Research raised Cytokinetics, from a “hold” rating to a “buy” rating and set a $14.00 target price on the stock in a report on Tuesday, July 11th. BidaskClub raised Cytokinetics, from a “sell” rating to a “hold” rating in a report on Thursday, July 13th. Morgan Stanley started coverage on Cytokinetics, in a report on Monday, July 31st. They set an “overweight” rating and a $24.00 target price on the stock. Finally, Cowen and Company reissued a “buy” rating and set a $19.00 target price on shares of Cytokinetics, in a report on Friday, August 4th. Three investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Cytokinetics, currently has an average rating of “Buy” and a consensus target price of $21.30.

Cytokinetics, (NASDAQ CYTK) traded down 0.874% during midday trading on Wednesday, hitting $14.175. The stock had a trading volume of 94,390 shares. The firm’s market capitalization is $760.72 million. Cytokinetics, has a 1-year low of $8.57 and a 1-year high of $17.20. The firm has a 50-day moving average price of $13.51 and a 200-day moving average price of $13.58.

Cytokinetics, (NASDAQ:CYTK) last posted its earnings results on Wednesday, August 2nd. The biopharmaceutical company reported ($0.60) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.57) by ($0.03). The business had revenue of $3.05 million for the quarter, compared to analyst estimates of $5.28 million. Cytokinetics, had a negative return on equity of 14.15% and a negative net margin of 16.00%. On average, equities research analysts anticipate that Cytokinetics, will post ($2.46) earnings per share for the current year.

TRADEMARK VIOLATION NOTICE: “Cytokinetics,’s (CYTK) Buy Rating Reaffirmed at HC Wainwright” was originally published by Transcript Daily and is the property of of Transcript Daily. If you are reading this piece on another website, it was illegally stolen and republished in violation of US & international copyright & trademark laws. The legal version of this piece can be read at https://transcriptdaily.com/2017/09/20/cytokineticss-cytk-buy-rating-reaffirmed-at-hc-wainwright.html.

In other Cytokinetics, news, SVP Bradley Paul Morgan sold 118,330 shares of the company’s stock in a transaction on Thursday, August 31st. The stock was sold at an average price of $15.00, for a total value of $1,774,950.00. Following the transaction, the senior vice president now directly owns 63,107 shares of the company’s stock, valued at approximately $946,605. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Robert I. Blum sold 5,000 shares of the company’s stock in a transaction on Tuesday, August 1st. The shares were sold at an average price of $13.79, for a total value of $68,950.00. Following the completion of the transaction, the chief executive officer now directly owns 84,785 shares in the company, valued at $1,169,185.15. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 164,809 shares of company stock worth $2,412,572. Insiders own 7.20% of the company’s stock.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. State of Alaska Department of Revenue bought a new stake in shares of Cytokinetics, during the 2nd quarter valued at $109,000. Municipal Employees Retirement System of Michigan bought a new stake in shares of Cytokinetics, during the 2nd quarter valued at $132,000. LMR Partners LLP bought a new stake in shares of Cytokinetics, during the 1st quarter valued at $156,000. BNP Paribas Arbitrage SA lifted its position in shares of Cytokinetics, by 4,464.4% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 13,328 shares of the biopharmaceutical company’s stock valued at $161,000 after acquiring an additional 13,036 shares during the period. Finally, Bank of America Corp DE lifted its position in shares of Cytokinetics, by 36.8% during the 1st quarter. Bank of America Corp DE now owns 12,571 shares of the biopharmaceutical company’s stock valued at $162,000 after acquiring an additional 3,383 shares during the period. 71.51% of the stock is currently owned by hedge funds and other institutional investors.

Cytokinetics, Company Profile

Cytokinetics, Incorporated is a late-stage biopharmaceutical company. The Company is focused on discovering, developing and commercializing first-in-class muscle activators as potential treatments for debilitating diseases in which muscle performance is compromised and/or declining. It is focused on the discovery and development of small molecule therapeutics that modulate muscle function for the treatment of serious diseases and medical conditions.

Analyst Recommendations for Cytokinetics, (NASDAQ:CYTK)

Receive News & Ratings for Cytokinetics Incorporated Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cytokinetics Incorporated and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply