Cytokinetics (NASDAQ:CYTK) Releases Earnings Results, Beats Estimates By $0.03 EPS

Cytokinetics (NASDAQ:CYTK) announced its quarterly earnings results on Thursday. The biopharmaceutical company reported ($1.26) earnings per share for the quarter, topping the consensus estimate of ($1.29) by $0.03, Zacks reports.

Cytokinetics Stock Up 1.3 %

Shares of NASDAQ:CYTK traded up $0.59 during trading on Thursday, reaching $47.45. The stock had a trading volume of 1,201,447 shares, compared to its average volume of 1,587,984. The firm’s 50-day simple moving average is $47.26 and its 200 day simple moving average is $51.38. The company has a current ratio of 9.28, a quick ratio of 9.28 and a debt-to-equity ratio of 5.93. Cytokinetics has a one year low of $40.53 and a one year high of $75.71. The company has a market capitalization of $5.60 billion, a P/E ratio of -8.82 and a beta of 0.83.

Analysts Set New Price Targets

Several research analysts recently commented on the company. Stifel Nicolaus began coverage on Cytokinetics in a research report on Wednesday, January 22nd. They issued a “buy” rating and a $80.00 price target for the company. Mizuho upped their price objective on Cytokinetics from $99.00 to $103.00 and gave the company an “outperform” rating in a research report on Thursday, November 21st. Evercore ISI upgraded Cytokinetics to a “strong-buy” rating in a research report on Friday, February 7th. JMP Securities restated a “market outperform” rating and issued a $78.00 price target on shares of Cytokinetics in a report on Friday, February 7th. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $120.00 price target on shares of Cytokinetics in a research note on Tuesday, January 21st. Two equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Cytokinetics currently has an average rating of “Moderate Buy” and an average target price of $82.00.

Insider Buying and Selling

In other Cytokinetics news, CEO Robert I. Blum sold 5,000 shares of the firm’s stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $50.76, for a total value of $253,800.00. Following the completion of the sale, the chief executive officer now owns 397,678 shares of the company’s stock, valued at approximately $20,186,135.28. This trade represents a 1.24 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Fady Ibraham Malik sold 7,300 shares of the company’s stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of $50.64, for a total transaction of $369,672.00. Following the transaction, the executive vice president now owns 116,071 shares in the company, valued at approximately $5,877,835.44. This trade represents a 5.92 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 22,822 shares of company stock worth $1,127,848 in the last 90 days. 3.40% of the stock is owned by corporate 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.