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

Shares of Cytokinetics, Incorporated (NASDAQ:CYTK) have been given a consensus rating of “Moderate Buy” by the eighteen brokerages that are presently covering the company, MarketBeat reports. Two research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $82.00.

A number of research firms have recently commented on CYTK. HC Wainwright reaffirmed a “buy” rating and set a $120.00 price objective on shares of Cytokinetics in a research note on Tuesday, January 21st. Morgan Stanley raised shares of Cytokinetics from an “equal weight” rating to an “overweight” rating and dropped their price target for the stock from $70.00 to $67.00 in a research report on Thursday, February 13th. Stifel Nicolaus started coverage on shares of Cytokinetics in a research note on Wednesday, January 22nd. They set a “buy” rating and a $80.00 price target on the stock. JMP Securities reissued a “market outperform” rating and set a $78.00 price objective on shares of Cytokinetics in a research note on Friday, February 7th. Finally, Royal Bank of Canada upped their price objective on Cytokinetics from $80.00 to $82.00 and gave the stock an “outperform” rating in a report on Wednesday, December 18th.

Cytokinetics Stock Up 1.3 %

Shares of NASDAQ CYTK opened at $47.45 on Friday. The firm has a market cap of $5.60 billion, a P/E ratio of -8.82 and a beta of 0.83. The company has a debt-to-equity ratio of 5.93, a quick ratio of 9.28 and a current ratio of 9.28. Cytokinetics has a 1 year low of $40.53 and a 1 year high of $75.71. The firm’s 50 day moving average price is $47.28 and its 200 day moving average price is $51.36.

Cytokinetics (NASDAQ:CYTK) last released its earnings results on Thursday, February 27th. The biopharmaceutical company reported ($1.26) EPS for the quarter, beating the consensus estimate of ($1.29) by $0.03. The business had revenue of $16.93 million during the quarter, compared to analyst estimates of $14.26 million. As a group, sell-side analysts anticipate that Cytokinetics will post -5.24 earnings per share for the current year.

Insider Activity

In other Cytokinetics news, EVP Fady Ibraham Malik sold 2,000 shares of the stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $45.98, for a total value of $91,960.00. Following the completion of the sale, the executive vice president now owns 116,071 shares of the company’s stock, valued at $5,336,944.58. This trade represents a 1.69 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Wendall Wierenga sold 742 shares of Cytokinetics stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $48.61, for a total transaction of $36,068.62. Following the sale, the director now owns 24,559 shares in the company, valued at $1,193,812.99. This represents a 2.93 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 22,822 shares of company stock worth $1,127,848. 3.40% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Cytokinetics

Several hedge funds and other institutional investors have recently bought and sold shares of CYTK. GF Fund Management CO. LTD. acquired a new stake in shares of Cytokinetics during the fourth quarter worth approximately $117,000. Nationale Nederlanden Powszechne Towarzystwo Emerytalne S.A. bought a new position in Cytokinetics during the 4th quarter valued at $15,483,000. Vestal Point Capital LP grew its holdings in Cytokinetics by 56.7% during the 4th quarter. Vestal Point Capital LP now owns 2,350,000 shares of the biopharmaceutical company’s stock worth $110,544,000 after acquiring an additional 850,000 shares in the last quarter. Two Sigma Advisers LP increased its position in shares of Cytokinetics by 5.4% in the 4th quarter. Two Sigma Advisers LP now owns 226,400 shares of the biopharmaceutical company’s stock worth $10,650,000 after purchasing an additional 11,700 shares during the last quarter. Finally, Teza Capital Management LLC bought a new stake in shares of Cytokinetics in the 4th quarter worth about $446,000.

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.