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.
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.
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