ValuEngine upgraded shares of Cytokinetics, Incorporated (NASDAQ:CYTK) from a sell rating to a hold rating in a report published on Friday, September 1st.
Other research analysts also recently issued research reports about the company. BidaskClub upgraded Cytokinetics, from a hold rating to a buy rating in a report on Tuesday, July 25th. Zacks Investment Research upgraded Cytokinetics, from a hold rating to a buy rating and set a $14.00 target price on the stock in a report on Tuesday, July 11th. Cowen and Company reiterated a buy rating and set a $19.00 target price on shares of Cytokinetics, in a report on Friday, August 4th. HC Wainwright set a $26.00 target price on Cytokinetics, and gave the stock a buy rating in a report on Thursday, August 3rd. Finally, Morgan Stanley initiated coverage on Cytokinetics, in a research note on Monday, July 31st. They issued an overweight rating and a $24.00 price target on the stock. Three equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Cytokinetics, currently has an average rating of Buy and an average target price of $21.30.
Shares of Cytokinetics, (CYTK) opened at 14.15 on Friday. The firm’s market cap is $759.37 million. Cytokinetics, has a 52 week low of $8.51 and a 52 week high of $17.20. The stock has a 50 day moving average of $13.51 and a 200 day moving average of $13.50.
Cytokinetics, (NASDAQ:CYTK) last released its quarterly earnings results on Wednesday, August 2nd. The biopharmaceutical company reported ($0.60) EPS for the quarter, missing analysts’ consensus estimates of ($0.57) by ($0.03). The business had revenue of $3.05 million for the quarter, compared to the consensus estimate of $5.28 million. Cytokinetics, had a negative net margin of 16.00% and a negative return on equity of 14.15%. Equities analysts forecast that Cytokinetics, will post ($2.46) earnings per share for the current year.
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In other news, CEO Robert I. Blum sold 5,000 shares of the firm’s stock in a transaction dated Tuesday, August 1st. The stock was sold at an average price of $13.79, for a total transaction of $68,950.00. Following the completion of the transaction, the chief executive officer now owns 84,785 shares in the company, valued at $1,169,185.15. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Bradley Paul Morgan sold 118,330 shares of the firm’s stock in a transaction dated Thursday, August 31st. The shares were sold at an average price of $15.00, for a total value of $1,774,950.00. Following the transaction, the senior vice president now owns 63,107 shares of the company’s stock, valued at approximately $946,605. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 164,809 shares of company stock valued at $2,412,572. Company insiders own 7.20% of the company’s stock.
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Alambic Investment Management L.P. grew its position in Cytokinetics, by 115.9% in the first quarter. Alambic Investment Management L.P. now owns 28,500 shares of the biopharmaceutical company’s stock worth $366,000 after acquiring an additional 15,300 shares in the last quarter. Norges Bank purchased a new position in Cytokinetics, in the fourth quarter worth about $976,000. Piermont Capital Management Inc. bought a new stake in Cytokinetics, in the first quarter worth about $612,000. Capital Fund Management S.A. bought a new stake in Cytokinetics, in the first quarter worth about $213,000. Finally, Fox Run Management L.L.C. bought a new stake in Cytokinetics, in the second quarter worth about $436,000. Institutional investors own 71.51% of the company’s stock.
Cytokinetics, Incorporated is a late-stage biopharmaceutical company. The Company is focused on discovering, developing and commercializing first-in-class muscle activators as potential treatments for debilitating diseases in which muscle performance is compromised and/or declining. It is focused on the discovery and development of small molecule therapeutics that modulate muscle function for the treatment of serious diseases and medical conditions.
To view ValuEngine’s full report, visit ValuEngine’s official website.
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