Cytokinetics, Incorporated (NASDAQ:CYTK) Receives Average Rating of “Moderate Buy” from Brokerages

Cytokinetics, Incorporated (NASDAQ:CYTK) has been assigned an average recommendation of “Moderate Buy” from the seventeen brokerages that are currently covering the stock, MarketBeat.com reports. One analyst has rated the stock with a sell rating, three have issued a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $76.6429.

CYTK has been the subject of a number of research reports. Raymond James Financial initiated coverage on shares of Cytokinetics in a research report on Wednesday, July 30th. They set a “market perform” rating for the company. Bank of America increased their target price on shares of Cytokinetics from $52.00 to $56.00 and gave the company a “neutral” rating in a research report on Thursday, October 2nd. Stifel Nicolaus increased their target price on shares of Cytokinetics from $87.00 to $96.00 and gave the company a “buy” rating in a research report on Tuesday, September 2nd. JMP Securities restated a “market outperform” rating and set a $78.00 price target on shares of Cytokinetics in a research note on Tuesday, September 2nd. Finally, Barclays upped their price target on shares of Cytokinetics from $71.00 to $82.00 and gave the company an “overweight” rating in a research note on Monday.

Insider Activity at Cytokinetics

In related news, Director Edward M. Md Kaye sold 6,757 shares of the company’s stock in a transaction that occurred on Monday, October 6th. The shares were sold at an average price of $60.00, for a total transaction of $405,420.00. Following the sale, the director directly owned 9,778 shares in the company, valued at approximately $586,680. This represents a 40.86% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Robert I. Blum sold 5,000 shares of the company’s stock in a transaction that occurred on Wednesday, October 1st. The shares were sold at an average price of $55.05, for a total transaction of $275,250.00. Following the sale, the chief executive officer owned 368,108 shares in the company, valued at $20,264,345.40. The trade was a 1.34% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 52,208 shares of company stock worth $2,555,581. 2.70% of the stock is owned by corporate insiders.

Institutional Trading of Cytokinetics

Institutional investors and hedge funds have recently bought and sold shares of the company. United Services Automobile Association purchased a new stake in Cytokinetics in the 1st quarter worth approximately $331,000. Mirador Capital Partners LP lifted its stake in Cytokinetics by 45.6% in the 2nd quarter. Mirador Capital Partners LP now owns 144,347 shares of the biopharmaceutical company’s stock worth $4,769,000 after purchasing an additional 45,222 shares in the last quarter. E. Ohman J or Asset Management AB lifted its stake in Cytokinetics by 23.6% in the 2nd quarter. E. Ohman J or Asset Management AB now owns 407,037 shares of the biopharmaceutical company’s stock worth $13,449,000 after purchasing an additional 77,806 shares in the last quarter. GAMMA Investing LLC lifted its stake in Cytokinetics by 281.0% in the 1st quarter. GAMMA Investing LLC now owns 1,120 shares of the biopharmaceutical company’s stock worth $45,000 after purchasing an additional 826 shares in the last quarter. Finally, Intech Investment Management LLC lifted its stake in Cytokinetics by 33.8% in the 1st quarter. Intech Investment Management LLC now owns 67,261 shares of the biopharmaceutical company’s stock worth $2,703,000 after purchasing an additional 16,988 shares in the last quarter.

Cytokinetics Stock Up 1.1%

Cytokinetics stock opened at $60.82 on Friday. Cytokinetics has a twelve month low of $29.31 and a twelve month high of $61.48. The firm has a 50 day moving average price of $45.10 and a 200-day moving average price of $38.95. The company has a market capitalization of $7.28 billion, a P/E ratio of -11.93 and a beta of 0.67.

Cytokinetics (NASDAQ:CYTK) last released its earnings results on Thursday, August 7th. The biopharmaceutical company reported ($1.12) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.34) by $0.22. The company had revenue of $66.77 million for the quarter, compared to the consensus estimate of $1.95 million. During the same period in the prior year, the company earned ($1.31) earnings per share. The firm’s revenue was up 26727.3% on a year-over-year basis. Equities analysts expect that Cytokinetics will post -5.24 EPS for the current fiscal year.

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.