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

Cytokinetics, Incorporated (NASDAQ:CYTK) has received a consensus recommendation of “Moderate Buy” from the eighteen brokerages that are presently covering the firm, Marketbeat.com reports. Three analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $74.44.

CYTK has been the topic of a number of research analyst reports. Needham & Company LLC reaffirmed a “buy” rating and set a $72.00 price objective on shares of Cytokinetics in a research report on Friday, May 2nd. JMP Securities reiterated a “market outperform” rating and issued a $78.00 price objective on shares of Cytokinetics in a research note on Thursday, April 10th. Evercore ISI upgraded shares of Cytokinetics to a “strong-buy” rating in a research note on Friday, February 7th. Morgan Stanley set a $67.00 price objective on shares of Cytokinetics in a research note on Friday, March 7th. Finally, Citigroup dropped their price objective on shares of Cytokinetics from $86.00 to $80.00 and set a “buy” rating on the stock in a research note on Wednesday, May 7th.

Insiders Place Their Bets

In other Cytokinetics news, EVP Fady Ibraham Malik sold 2,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $45.98, for a total transaction of $91,960.00. Following the sale, the executive vice president now directly owns 116,071 shares in the company, valued at approximately $5,336,944.58. This trade represents a 1.69% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Andrew Callos sold 2,886 shares of the firm’s stock in a transaction that occurred on Monday, April 7th. The stock was sold at an average price of $35.78, for a total transaction of $103,261.08. Following the transaction, the executive vice president now directly owns 64,689 shares of the company’s stock, valued at $2,314,572.42. This represents a 4.27% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 95,362 shares of company stock worth $3,899,118. Company insiders own 2.70% of the company’s stock.

Hedge Funds Weigh In On Cytokinetics

Hedge funds and other institutional investors have recently made changes to their positions in the company. Jones Financial Companies Lllp grew its stake in shares of Cytokinetics by 189.8% in the fourth quarter. Jones Financial Companies Lllp now owns 571 shares of the biopharmaceutical company’s stock valued at $27,000 after buying an additional 374 shares in the last quarter. Centricity Wealth Management LLC bought a new position in shares of Cytokinetics in the fourth quarter valued at $29,000. Fifth Third Bancorp grew its stake in shares of Cytokinetics by 42.2% in the first quarter. Fifth Third Bancorp now owns 981 shares of the biopharmaceutical company’s stock valued at $39,000 after buying an additional 291 shares in the last quarter. Parallel Advisors LLC grew its stake in shares of Cytokinetics by 500.5% in the first quarter. Parallel Advisors LLC now owns 1,099 shares of the biopharmaceutical company’s stock valued at $44,000 after buying an additional 916 shares in the last quarter. Finally, GAMMA Investing LLC grew its stake in shares of Cytokinetics by 281.0% in the first quarter. GAMMA Investing LLC now owns 1,120 shares of the biopharmaceutical company’s stock valued at $45,000 after buying an additional 826 shares in the last quarter.

Cytokinetics Stock Down 2.4%

CYTK stock opened at $31.69 on Wednesday. Cytokinetics has a 52 week low of $31.67 and a 52 week high of $63.46. The company has a market capitalization of $3.78 billion, a price-to-earnings ratio of -5.89 and a beta of 0.81. The firm’s 50-day moving average is $40.18 and its two-hundred day moving average is $45.92. 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 (NASDAQ:CYTK) last released its earnings results on Tuesday, May 6th. The biopharmaceutical company reported ($1.36) EPS for the quarter, topping analysts’ consensus estimates of ($1.41) by $0.05. The business had revenue of $1.60 million during the quarter, compared to the consensus estimate of $2.77 million. The firm’s revenue for the quarter was up 89.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($1.33) earnings per share. On average, analysts forecast that Cytokinetics will post -5.24 earnings per share 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.