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.
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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.
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