Cytokinetics (NASDAQ:CYTK) Receives Buy Rating from HC Wainwright

HC Wainwright reiterated their buy rating on shares of Cytokinetics (NASDAQ:CYTK) in a research note released on Friday morning,Benzinga reports. The brokerage currently has a $120.00 target price on the biopharmaceutical company’s stock.

Other analysts have also recently issued research reports about the company. Royal Bank of Canada upped their price target on Cytokinetics from $80.00 to $82.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 18th. Morgan Stanley upgraded Cytokinetics from an “equal weight” rating to an “overweight” rating and cut their price objective for the company from $70.00 to $67.00 in a research note on Thursday, February 13th. Stifel Nicolaus assumed coverage on shares of Cytokinetics in a research note on Wednesday, January 22nd. They set a “buy” rating and a $80.00 target price on the stock. JMP Securities reiterated a “market outperform” rating and issued a $78.00 price target on shares of Cytokinetics in a research report on Friday, February 7th. Finally, Evercore ISI raised shares of Cytokinetics to a “strong-buy” rating in a research note on Friday, February 7th. Two analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $82.00.

Cytokinetics Stock Performance

CYTK opened at $46.00 on Friday. Cytokinetics has a 12-month low of $40.53 and a 12-month high of $75.71. The company has a market cap of $5.43 billion, a price-to-earnings ratio of -8.55 and a beta of 0.83. The company has a current ratio of 9.28, a quick ratio of 9.28 and a debt-to-equity ratio of 5.93. The company’s 50 day moving average is $47.22 and its 200 day moving average is $51.28.

Cytokinetics (NASDAQ:CYTK) last issued its quarterly earnings results on Thursday, February 27th. The biopharmaceutical company reported ($1.26) earnings per share for the quarter, topping the consensus estimate of ($1.29) by $0.03. The business had revenue of $16.93 million for the quarter, compared to analysts’ expectations of $14.26 million. On average, equities research analysts predict that Cytokinetics will post -5.24 EPS for the current year.

Insider Buying and Selling

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

Institutional Trading of Cytokinetics

A number of large investors have recently made changes to their positions in the business. Jones Financial Companies Lllp grew its position in Cytokinetics by 189.8% in the fourth quarter. Jones Financial Companies Lllp now owns 571 shares of the biopharmaceutical company’s stock worth $27,000 after acquiring an additional 374 shares in the last quarter. Centricity Wealth Management LLC bought a new stake in shares of Cytokinetics in the 4th quarter valued at approximately $29,000. Blue Trust Inc. boosted its holdings in shares of Cytokinetics by 225.9% in the 3rd quarter. Blue Trust Inc. now owns 981 shares of the biopharmaceutical company’s stock worth $53,000 after purchasing an additional 680 shares during the period. AlphaQuest LLC increased its position in shares of Cytokinetics by 113,500.0% during the 4th quarter. AlphaQuest LLC now owns 1,136 shares of the biopharmaceutical company’s stock valued at $53,000 after purchasing an additional 1,135 shares during the last quarter. Finally, J.Safra Asset Management Corp raised its holdings in Cytokinetics by 62.1% during the 4th quarter. J.Safra Asset Management Corp now owns 1,751 shares of the biopharmaceutical company’s stock valued at $83,000 after buying an additional 671 shares during the period.

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.