Cytokinetics, Inc. (NASDAQ:CYTK) has earned an average recommendation of “Buy” from the fourteen research firms that are covering the stock, MarketBeat reports. One research analyst has rated the stock with a sell rating, two have given a hold rating and ten have given a buy rating to the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $17.90.
Several research firms have commented on CYTK. Needham & Company LLC lowered Cytokinetics from a “strong-buy” rating to a “buy” rating and lowered their price objective for the stock from $22.00 to $12.00 in a research report on Wednesday, November 29th. Morgan Stanley reiterated an “overweight” rating and set a $17.00 target price (down previously from $25.00) on shares of Cytokinetics in a research report on Wednesday, November 22nd. Cantor Fitzgerald lowered Cytokinetics from an “overweight” rating to a “neutral” rating and decreased their target price for the company from $21.00 to $10.00 in a research report on Wednesday, November 22nd. ValuEngine lowered Cytokinetics from a “hold” rating to a “sell” rating in a research report on Tuesday, November 21st. Finally, JMP Securities reiterated an “outperform” rating and set a $13.00 target price (down previously from $17.00) on shares of Cytokinetics in a research report on Tuesday, November 21st. They noted that the move was a valuation call.
Cytokinetics (NASDAQ CYTK) traded up $0.30 during trading on Friday, reaching $8.10. The company’s stock had a trading volume of 543,100 shares, compared to its average volume of 594,823. The company has a debt-to-equity ratio of 0.14, a quick ratio of 7.60 and a current ratio of 7.60. Cytokinetics has a 1-year low of $7.00 and a 1-year high of $17.20.
Cytokinetics (NASDAQ:CYTK) last released its quarterly earnings data on Thursday, October 26th. The biopharmaceutical company reported ($0.60) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.64) by $0.04. Cytokinetics had a negative return on equity of 62.64% and a negative net margin of 172.27%. The business had revenue of $6.18 million for the quarter, compared to analyst estimates of $5.35 million. sell-side analysts expect that Cytokinetics will post -2.4 earnings per share for the current year.
In other Cytokinetics news, CEO Robert I. Blum sold 5,000 shares of the firm’s stock in a transaction on Wednesday, November 1st. The stock was sold at an average price of $13.51, for a total value of $67,550.00. Following the transaction, the chief executive officer now owns 70,180 shares in the company, valued at approximately $948,131.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Caryn Gordon Mcdowell sold 4,260 shares of the firm’s stock in a transaction on Thursday, November 2nd. The shares were sold at an average price of $12.94, for a total value of $55,124.40. Following the completion of the transaction, the insider now owns 17,982 shares in the company, valued at approximately $232,687.08. The disclosure for this sale can be found here. Insiders have sold a total of 34,762 shares of company stock worth $497,826 in the last quarter. Insiders own 7.20% of the company’s stock.
A number of hedge funds have recently made changes to their positions in CYTK. State of Alaska Department of Revenue purchased a new position in Cytokinetics in the 2nd quarter valued at $109,000. Municipal Employees Retirement System of Michigan purchased a new position in Cytokinetics in the 2nd quarter valued at $132,000. Birchview Capital LP purchased a new position in Cytokinetics in the 3rd quarter valued at $145,000. Piedmont Investment Advisors LLC purchased a new position in Cytokinetics in the 3rd quarter valued at $159,000. Finally, BNP Paribas Arbitrage SA lifted its holdings in Cytokinetics by 4,464.4% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 13,328 shares of the biopharmaceutical company’s stock valued at $161,000 after purchasing an additional 13,036 shares in the last quarter. Institutional investors own 73.72% of the company’s stock.
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Cytokinetics Company Profile
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.
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