JMP Securities restated their market outperform rating on shares of Cytokinetics (NASDAQ:CYTK – Free Report) in a report published on Tuesday morning,Benzinga reports. The brokerage currently has a $78.00 price target on the biopharmaceutical company’s stock.
Several other brokerages have also commented on CYTK. Royal Bank of Canada upped their price target on shares of Cytokinetics from $80.00 to $82.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 18th. Mizuho upped their price objective on Cytokinetics from $99.00 to $103.00 and gave the stock an “outperform” rating in a report on Thursday, November 21st. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Cytokinetics in a research report on Friday, October 18th. HC Wainwright reissued a “buy” rating and set a $120.00 price target on shares of Cytokinetics in a research report on Friday, January 10th. Finally, Needham & Company LLC restated a “buy” rating and issued a $72.00 price objective on shares of Cytokinetics in a report on Monday, December 2nd. Three research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat, Cytokinetics currently has a consensus rating of “Moderate Buy” and an average target price of $83.64.
Read Our Latest Analysis on Cytokinetics
Cytokinetics Price Performance
Cytokinetics (NASDAQ:CYTK – Get Free Report) last posted its quarterly earnings results on Wednesday, November 6th. The biopharmaceutical company reported ($1.36) EPS for the quarter, missing the consensus estimate of ($1.27) by ($0.09). The business had revenue of $0.46 million during the quarter, compared to the consensus estimate of $1.21 million. Cytokinetics’s revenue for the quarter was up 22.5% compared to the same quarter last year. During the same period last year, the business earned ($1.35) EPS. Equities research analysts forecast that Cytokinetics will post -5.23 EPS for the current year.
Insider Activity
In related news, EVP Fady Ibraham Malik sold 7,300 shares of the firm’s stock in a transaction on Wednesday, October 30th. The shares were sold at an average price of $51.91, for a total transaction of $378,943.00. Following the completion of the sale, the executive vice president now directly owns 114,920 shares of the company’s stock, valued at approximately $5,965,497.20. This trade represents a 5.97 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Wendall Wierenga sold 4,452 shares of Cytokinetics stock in a transaction on Monday, October 28th. The stock was sold at an average price of $52.25, for a total transaction of $232,617.00. Following the sale, the director now directly owns 24,559 shares in the company, valued at $1,283,207.75. This trade represents a 15.35 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 52,216 shares of company stock worth $2,707,436 over the last 90 days. Company insiders own 3.40% of the company’s stock.
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently bought and sold shares of the business. Victory Capital Management Inc. raised its position in shares of Cytokinetics by 10.2% in the 2nd quarter. Victory Capital Management Inc. now owns 37,039 shares of the biopharmaceutical company’s stock valued at $2,007,000 after purchasing an additional 3,436 shares in the last quarter. Federated Hermes Inc. raised its holdings in Cytokinetics by 204.6% in the second quarter. Federated Hermes Inc. now owns 26,098 shares of the biopharmaceutical company’s stock valued at $1,414,000 after acquiring an additional 17,530 shares in the last quarter. WINTON GROUP Ltd bought a new position in Cytokinetics during the 2nd quarter valued at $983,000. Massachusetts Financial Services Co. MA acquired a new position in Cytokinetics during the 2nd quarter worth $14,957,000. Finally, Dimensional Fund Advisors LP increased its position in shares of Cytokinetics by 27.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 148,561 shares of the biopharmaceutical company’s stock worth $8,049,000 after purchasing an additional 32,372 shares during the last quarter.
About Cytokinetics
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.
Read More
- Five stocks we like better than Cytokinetics
- How to Invest in Biotech Stocks
- Cerence AI: One-Hit Wonder or Long-Term Winner After NVIDIA Pact?
- 2 Rising CRM Platform Stocks That Can Surge Higher in 2025
- UnitedHealth Group Pulls Back Into Another Healthy Opportunity
- P/E Ratio Calculation: How to Assess Stocks
- Micron Technology: Riding the AI Wave to Long-Term Growth
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.