Cytokinetics (CYTK) Scheduled to Post Quarterly Earnings on Wednesday

Cytokinetics (NASDAQ:CYTK) is scheduled to release its earnings data after the market closes on Wednesday, May 8th. Analysts expect Cytokinetics to post earnings of ($1.16) per share for the quarter. Cytokinetics has set its FY 2024 guidance at EPS.Individual interested in registering for the company’s earnings conference call can do so using this link.

Cytokinetics (NASDAQ:CYTK) last posted its earnings results on Tuesday, February 27th. The biopharmaceutical company reported ($1.38) EPS for the quarter, missing the consensus estimate of ($1.03) by ($0.35). The firm had revenue of $1.70 million for the quarter, compared to the consensus estimate of $7.62 million. Cytokinetics’s quarterly revenue was down 10.5% compared to the same quarter last year. During the same period in the previous year, the firm posted ($1.45) earnings per share. On average, analysts expect Cytokinetics to post $-5 EPS for the current fiscal year and $-3 EPS for the next fiscal year.

Cytokinetics Trading Down 0.3 %

Shares of Cytokinetics stock opened at $65.05 on Tuesday. The business’s fifty day simple moving average is $68.29 and its 200 day simple moving average is $61.41. Cytokinetics has a 12 month low of $25.98 and a 12 month high of $110.25.

Analysts Set New Price Targets

A number of research firms recently issued reports on CYTK. Mizuho decreased their price objective on shares of Cytokinetics from $103.00 to $99.00 and set a “buy” rating for the company in a report on Wednesday, March 6th. HC Wainwright restated a “buy” rating and issued a $94.00 target price on shares of Cytokinetics in a research note on Wednesday, February 28th. Needham & Company LLC reissued a “buy” rating and issued a $108.00 price objective on shares of Cytokinetics in a report on Tuesday, April 9th. Oppenheimer reiterated an “outperform” rating and issued a $107.00 target price on shares of Cytokinetics in a research note on Monday, March 4th. Finally, Truist Financial reissued a “buy” rating and set a $86.00 target price on shares of Cytokinetics in a report on Monday, April 8th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and thirteen have given a buy rating to the company. According to MarketBeat, Cytokinetics currently has a consensus rating of “Moderate Buy” and an average price target of $79.33.

Insider Buying and Selling

In other Cytokinetics news, Director John T. Henderson sold 10,562 shares of the stock in a transaction on Thursday, April 25th. The shares were sold at an average price of $64.54, for a total transaction of $681,671.48. Following the completion of the sale, the director now owns 32,070 shares of the company’s stock, valued at approximately $2,069,797.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other Cytokinetics news, Director John T. Henderson sold 5,000 shares of the firm’s stock in a transaction on Wednesday, February 14th. The stock was sold at an average price of $76.48, for a total transaction of $382,400.00. Following the completion of the transaction, the director now owns 42,632 shares of the company’s stock, valued at $3,260,495.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director John T. Henderson sold 10,562 shares of the stock in a transaction dated Thursday, April 25th. The stock was sold at an average price of $64.54, for a total transaction of $681,671.48. Following the completion of the transaction, the director now owns 32,070 shares of the company’s stock, valued at $2,069,797.80. The disclosure for this sale can be found here. Insiders have sold a total of 80,771 shares of company stock worth $5,689,675 in the last ninety days. 3.40% of the stock is owned by insiders.

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. The company develops small molecule drug candidates primarily engineered to impact muscle function and contractility.