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

by · The Cerbat Gem

Cytokinetics (NASDAQ:CYTK – Get Free Report)‘s stock had its “buy” rating reissued by equities research analysts at HC Wainwright in a report released on Monday,Benzinga reports. They presently have a $120.00 price target on the biopharmaceutical company’s stock. HC Wainwright’s price objective indicates a potential upside of 217.54% from the company’s previous close.

Several other equities analysts have also recently commented on CYTK. Evercore ISI upgraded Cytokinetics to a “strong-buy” rating in a research note on Friday, February 7th. Bank of America decreased their price target on Cytokinetics from $62.00 to $54.00 and set a “neutral” rating for the company in a research note on Tuesday, April 15th. Needham & Company LLC reiterated a “buy” rating and set a $72.00 target price on shares of Cytokinetics in a research note on Tuesday, April 8th. 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 price objective on the stock. Finally, Morgan Stanley set a $67.00 price objective on shares of Cytokinetics in a report on Friday, March 7th. Two investment 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. According to data from MarketBeat, Cytokinetics has a consensus rating of “Moderate Buy” and a consensus price target of $81.63.

Get Our Latest Research Report on CYTK

Cytokinetics Trading Down 4.3 %

CYTK traded down $1.69 on Monday, reaching $37.79. 1,078,787 shares of the company’s stock were exchanged, compared to its average volume of 1,600,525. The company has a debt-to-equity ratio of 5.93, a quick ratio of 9.28 and a current ratio of 9.28. Cytokinetics has a twelve month low of $32.74 and a twelve month high of $68.76. The company’s 50 day moving average is $42.63 and its 200-day moving average is $47.66. The company has a market cap of $4.50 billion, a price-to-earnings ratio of -7.02 and a beta of 0.94.

Cytokinetics (NASDAQ:CYTK – Get Free Report) last posted its earnings results on Thursday, February 27th. The biopharmaceutical company reported ($1.26) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.29) by $0.03. The company had revenue of $16.93 million during the quarter, compared to analyst estimates of $14.26 million. Equities analysts predict that Cytokinetics will post -5.24 earnings per share for the current year.

Insider Activity

In other Cytokinetics news, Director John T. Henderson sold 3,190 shares of the business’s stock in a transaction dated Tuesday, April 15th. The stock was sold at an average price of $38.66, for a total value of $123,325.40. Following the transaction, the director now owns 66,348 shares in the company, valued at $2,565,013.68. The trade was a 4.59 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Robert I. Blum sold 16,970 shares of Cytokinetics stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $43.44, for a total value of $737,176.80. Following the sale, the chief executive officer now owns 364,181 shares of the company’s stock, valued at approximately $15,820,022.64. This represents a 4.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 68,360 shares of company stock worth $2,890,065 over the last 90 days. 3.40% of the stock is owned by company insiders.

Institutional Trading of Cytokinetics

Institutional investors have recently added to or reduced their stakes in the business. Harvey Capital Management Inc. acquired a new position in Cytokinetics in the 4th quarter valued at $1,040,000. abrdn plc boosted its position in shares of Cytokinetics by 29.4% in the fourth quarter. abrdn plc now owns 450,513 shares of the biopharmaceutical company’s stock valued at $21,192,000 after acquiring an additional 102,457 shares during the period. AlphaQuest LLC grew its stake in shares of Cytokinetics by 113,500.0% in the fourth quarter. AlphaQuest LLC now owns 1,136 shares of the biopharmaceutical company’s stock worth $53,000 after acquiring an additional 1,135 shares during the last quarter. Vanguard Group Inc. increased its position in Cytokinetics by 1.3% during the fourth quarter. Vanguard Group Inc. now owns 11,915,821 shares of the biopharmaceutical company’s stock worth $560,520,000 after acquiring an additional 154,216 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its stake in Cytokinetics by 1.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,335,189 shares of the biopharmaceutical company’s stock valued at $62,807,000 after purchasing an additional 13,798 shares during the last quarter.

About Cytokinetics

(Get Free Report)

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.

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