JMP Securities set a $23.00 target price on Cytokinetics (NASDAQ:CYTK) in a research note released on Friday, The Fly reports. The brokerage currently has a buy rating on the biopharmaceutical company’s stock.
Other equities research analysts have also issued reports about the company. Cantor Fitzgerald reissued an overweight rating and set a $20.00 price target (up from $14.00) on shares of Cytokinetics in a research note on Friday, September 6th. Morgan Stanley set a $16.00 price target on Cytokinetics and gave the stock a hold rating in a research note on Friday, August 9th. BidaskClub lowered Cytokinetics from a strong-buy rating to a buy rating in a research note on Friday, August 16th. Piper Jaffray Companies set a $14.00 price objective on Cytokinetics and gave the stock a buy rating in a report on Monday, July 15th. Finally, Needham & Company LLC set a $16.00 price objective on Cytokinetics and gave the stock a buy rating in a report on Friday, August 9th. Two analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. Cytokinetics currently has a consensus rating of Buy and a consensus target price of $18.71.
Shares of CYTK stock opened at $13.00 on Friday. Cytokinetics has a 52-week low of $5.75 and a 52-week high of $14.94. The company has a debt-to-equity ratio of 12.35, a quick ratio of 8.42 and a current ratio of 8.42. The firm has a market capitalization of $739.35 million, a P/E ratio of -6.67 and a beta of 1.64. The stock has a 50 day moving average price of $13.23 and a 200 day moving average price of $10.44.
Cytokinetics (NASDAQ:CYTK) last issued its quarterly earnings results on Thursday, August 8th. The biopharmaceutical company reported ($0.56) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.50) by ($0.06). Cytokinetics had a negative return on equity of 575.21% and a negative net margin of 308.73%. The business had revenue of $7.14 million for the quarter, compared to the consensus estimate of $6.81 million. As a group, sell-side analysts forecast that Cytokinetics will post -2 EPS for the current year.
In other Cytokinetics news, CEO Robert I. Blum sold 6,000 shares of the firm’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $12.64, for a total transaction of $75,840.00. Following the transaction, the chief executive officer now directly owns 250,022 shares in the company, valued at approximately $3,160,278.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders have sold a total of 16,500 shares of company stock worth $199,185 over the last 90 days. 5.70% of the stock is currently owned by company insiders.
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Everence Capital Management Inc. purchased a new position in Cytokinetics during the 1st quarter worth $133,000. SG Americas Securities LLC purchased a new position in Cytokinetics during the 1st quarter worth $151,000. Comerica Bank increased its holdings in Cytokinetics by 3.5% during the 1st quarter. Comerica Bank now owns 54,154 shares of the biopharmaceutical company’s stock worth $472,000 after purchasing an additional 1,808 shares during the period. Swiss National Bank increased its holdings in Cytokinetics by 5.5% during the 2nd quarter. Swiss National Bank now owns 86,600 shares of the biopharmaceutical company’s stock worth $974,000 after purchasing an additional 4,500 shares during the period. Finally, Wasatch Advisors Inc. increased its holdings in Cytokinetics by 29.8% during the 1st quarter. Wasatch Advisors Inc. now owns 3,188,487 shares of the biopharmaceutical company’s stock worth $25,795,000 after purchasing an additional 731,682 shares during the period. Institutional investors own 74.57% of the company’s stock.
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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