Cytokinetics, Incorporated (NASDAQ:CYTK) Given Consensus Recommendation of “Moderate Buy” by Analysts

Cytokinetics, Incorporated (NASDAQ:CYTK) has earned a consensus rating of “Moderate Buy” from the seventeen research firms that are covering the company, Marketbeat reports. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and thirteen have issued a buy rating on the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $76.6429.

A number of brokerages have recently commented on CYTK. Weiss Ratings reissued a “sell (d-)” rating on shares of Cytokinetics in a research note on Wednesday, October 8th. JMP Securities reissued a “market outperform” rating and issued a $78.00 target price on shares of Cytokinetics in a research note on Tuesday, September 2nd. Stifel Nicolaus raised their target price on shares of Cytokinetics from $87.00 to $96.00 and gave the company a “buy” rating in a research note on Tuesday, September 2nd. Wall Street Zen raised shares of Cytokinetics from a “strong sell” rating to a “hold” rating in a research note on Sunday, August 10th. Finally, B. Riley raised their target price on shares of Cytokinetics from $74.00 to $80.00 and gave the company a “buy” rating in a research note on Monday, September 22nd.

Insider Activity

In other Cytokinetics news, Director Edward M. Md Kaye sold 6,757 shares of the firm’s stock in a transaction 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 completion of the transaction, the director directly owned 9,778 shares of the company’s stock, valued at $586,680. This trade represents a 40.86% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Wendell Wierenga sold 4,375 shares of Cytokinetics stock in a transaction dated Monday, October 27th. The shares were sold at an average price of $58.68, for a total transaction of $256,725.00. Following the completion of the transaction, the director directly owned 32,444 shares of the company’s stock, valued at $1,903,813.92. This trade represents a 11.88% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 56,983 shares of company stock valued at $3,165,356 in the last 90 days. Company insiders own 2.70% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. EverSource Wealth Advisors LLC lifted its position in Cytokinetics by 723.7% in the second quarter. EverSource Wealth Advisors LLC now owns 766 shares of the biopharmaceutical company’s stock worth $25,000 after purchasing an additional 673 shares during the period. Hantz Financial Services Inc. lifted its stake in Cytokinetics by 2,872.7% during the second quarter. Hantz Financial Services Inc. now owns 1,308 shares of the biopharmaceutical company’s stock valued at $43,000 after purchasing an additional 1,264 shares during the last quarter. GAMMA Investing LLC lifted its stake in Cytokinetics by 281.0% during the first quarter. GAMMA Investing LLC now owns 1,120 shares of the biopharmaceutical company’s stock valued at $45,000 after purchasing an additional 826 shares during the last quarter. Assetmark Inc. lifted its stake in Cytokinetics by 11,510.0% during the first quarter. Assetmark Inc. now owns 1,161 shares of the biopharmaceutical company’s stock valued at $47,000 after purchasing an additional 1,151 shares during the last quarter. Finally, UMB Bank n.a. lifted its stake in Cytokinetics by 37.8% during the second quarter. UMB Bank n.a. now owns 1,593 shares of the biopharmaceutical company’s stock valued at $53,000 after purchasing an additional 437 shares during the last quarter.

Cytokinetics Stock Down 0.7%

Shares of CYTK opened at $59.62 on Wednesday. The firm has a market cap of $7.13 billion, a PE ratio of -11.69 and a beta of 0.67. The company’s fifty day moving average is $53.88 and its two-hundred day moving average is $41.67. Cytokinetics has a fifty-two week low of $29.31 and a fifty-two week high of $64.13.

Cytokinetics (NASDAQ:CYTK) last issued its earnings results on Thursday, August 7th. The biopharmaceutical company reported ($1.12) EPS for the quarter, beating analysts’ consensus estimates of ($1.34) by $0.22. The business had revenue of $66.77 million during the quarter, compared to analysts’ expectations of $1.95 million. During the same period in the prior year, the business posted ($1.31) EPS. The business’s revenue was up 26727.3% on a year-over-year basis. As a group, equities research analysts anticipate that Cytokinetics will post -5.24 earnings per share for the current 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.