Analysts Set Cytokinetics, Incorporated (NASDAQ:CYTK) Price Target at $103.37

by · The Cerbat Gem

Cytokinetics, Incorporated (NASDAQ:CYTK – Get Free Report) has received a consensus recommendation of “Moderate Buy” from the twenty analysts that are currently covering the company, MarketBeat.com reports. One analyst has rated the stock with a sell rating, one has assigned a hold rating and eighteen have given a buy rating to the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $103.3684.

A number of equities research analysts have weighed in on the company. Citizens Jmp lifted their target price on Cytokinetics from $105.00 to $110.00 and gave the stock a “market outperform” rating in a report on Friday, August 7th. Truist Financial increased their price target on Cytokinetics from $106.00 to $112.00 and gave the stock a “buy” rating in a report on Monday, August 10th. HC Wainwright reaffirmed a “buy” rating and set a $140.00 price objective on shares of Cytokinetics in a research report on Monday, August 31st. JPMorgan Chase & Co. lifted their price objective on shares of Cytokinetics from $97.00 to $103.00 and gave the company an “overweight” rating in a research note on Thursday, August 13th. Finally, Royal Bank Of Canada dropped their target price on shares of Cytokinetics from $117.00 to $112.00 and set an “outperform” rating on the stock in a research report on Friday, August 7th.

View Our Latest Analysis on Cytokinetics

Cytokinetics Stock Performance

Shares of NASDAQ CYTK opened at $65.81 on Friday. The company has a market capitalization of $8.19 billion, a P/E ratio of -9.11 and a beta of 0.36. Cytokinetics has a 52-week low of $47.22 and a 52-week high of $88.31. The company’s 50 day moving average price is $75.59 and its 200-day moving average price is $73.06.

Cytokinetics (NASDAQ:CYTK – Get Free Report) last posted its quarterly earnings data on Thursday, August 6th. The biopharmaceutical company reported ($1.50) EPS for the quarter, beating analysts’ consensus estimates of ($1.63) by $0.13. The firm had revenue of $28.62 million during the quarter, compared to the consensus estimate of $17.59 million. During the same period in the prior year, the company posted ($1.12) earnings per share. The company’s revenue for the quarter was down 57.1% compared to the same quarter last year. Analysts forecast that Cytokinetics will post -5.98 earnings per share for the current year.

Insider Transactions at Cytokinetics

In other news, Director Robert E. Landry sold 1,000 shares of the firm’s stock in a transaction dated Tuesday, September 15th. The stock was sold at an average price of $72.13, for a total value of $72,130.00. Following the completion of the sale, the director directly owned 8,184 shares in the company, valued at $590,311.92. This trade represents a 10.89% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Fady Malik sold 3,500 shares of the business’s stock in a transaction dated Tuesday, September 22nd. The shares were sold at an average price of $68.29, for a total value of $239,015.00. Following the completion of the sale, the executive vice president directly owned 153,902 shares of the company’s stock, valued at $10,509,967.58. The trade was a 2.22% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 210,672 shares of company stock valued at $15,630,737. 2.60% of the stock is owned by insiders.

Institutional Investors Weigh In On Cytokinetics

A number of hedge funds have recently added to or reduced their stakes in the company. Integrated Wealth Concepts LLC acquired a new position in shares of Cytokinetics during the second quarter worth approximately $36,000. Rockefeller Capital Management L.P. increased its stake in Cytokinetics by 842.6% during the 4th quarter. Rockefeller Capital Management L.P. now owns 641 shares of the biopharmaceutical company’s stock valued at $41,000 after purchasing an additional 573 shares in the last quarter. Clearstead Advisors LLC increased its stake in Cytokinetics by 97.1% during the 4th quarter. Clearstead Advisors LLC now owns 670 shares of the biopharmaceutical company’s stock valued at $43,000 after purchasing an additional 330 shares in the last quarter. Western Wealth Management LLC acquired a new position in Cytokinetics during the first quarter worth $53,000. Finally, EverSource Wealth Advisors LLC raised its holdings in Cytokinetics by 55.0% during the first quarter. EverSource Wealth Advisors LLC now owns 1,548 shares of the biopharmaceutical company’s stock worth $102,000 after buying an additional 549 shares during the last quarter.

About Cytokinetics

(Get Free Report)

Cytokinetics, Incorporated is a biopharmaceutical company focused on discovering and developing medicines that target the biology of muscle function. The company applies expertise in muscle physiology and contractility to develop potential treatments for cardiovascular and neuromuscular diseases.

Its leading programs include aficamten, an investigational cardiac myosin inhibitor being developed for conditions involving abnormal heart-muscle contraction, including hypertrophic cardiomyopathy.

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