Cytokinetics (CYTK) Announces Earnings Results, Misses Estimates By $0.07 EPS

Cytokinetics (NASDAQ:CYTK) announced its quarterly earnings results on Thursday. The biopharmaceutical company reported ($0.54) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.47) by ($0.07), Fidelity Earnings reports. Cytokinetics had a negative net margin of 303.70% and a negative return on equity of 206.40%. The company had revenue of $8.46 million during the quarter, compared to analyst estimates of $6.21 million.

Shares of NASDAQ:CYTK traded up $1.06 on Friday, reaching $10.07. 957,742 shares of the company’s stock were exchanged, compared to its average volume of 533,801. Cytokinetics has a twelve month low of $5.75 and a twelve month high of $10.44. The company has a debt-to-equity ratio of 1.53, a quick ratio of 9.36 and a current ratio of 9.36.

A number of brokerages recently commented on CYTK. ValuEngine upgraded shares of Cytokinetics from a “buy” rating to a “strong-buy” rating in a research note on Friday. Cantor Fitzgerald restated a “buy” rating and set a $14.00 target price on shares of Cytokinetics in a research report on Friday. Piper Jaffray Companies increased their target price on shares of Cytokinetics from $12.00 to $13.00 and gave the stock an “overweight” rating in a research report on Wednesday, March 20th. HC Wainwright increased their target price on shares of Cytokinetics from $21.00 to $26.00 and gave the stock a “buy” rating in a research report on Monday, May 6th. Finally, Zacks Investment Research upgraded shares of Cytokinetics from a “hold” rating to a “buy” rating and set a $10.00 target price on the stock in a research report on Wednesday, April 24th. One investment analyst has rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. Cytokinetics currently has a consensus rating of “Buy” and an average price target of $14.60.

ILLEGAL ACTIVITY NOTICE: This piece of content was originally posted by Transcript Daily and is the sole property of of Transcript Daily. If you are reading this piece of content on another site, it was illegally stolen and reposted in violation of US & international copyright & trademark legislation. The original version of this piece of content can be viewed at https://transcriptdaily.com/2019/05/11/cytokinetics-cytk-announces-earnings-results-misses-estimates-by-0-07-eps.html.

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 in which muscle performance is compromised and/or declining. The company is developing small molecule drug candidates primarily engineered to increase muscle function and contractility.

Featured Story: How to interpret the current ratio

Earnings History for Cytokinetics (NASDAQ:CYTK)

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