Cytokinetics, Incorporated (NASDAQ:CYTK) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Cytokinetics, Incorporated (NASDAQ:CYTK) has been given an average rating of “Moderate Buy” by the eighteen ratings firms that are presently covering the stock, MarketBeat reports. Two equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $82.00.

CYTK has been the topic of a number of analyst reports. Needham & Company LLC reaffirmed a “buy” rating and set a $72.00 target price on shares of Cytokinetics in a research note on Thursday, February 6th. Citigroup assumed coverage on shares of Cytokinetics in a research report on Friday, February 7th. They set a “buy” rating and a $86.00 price target on the stock. HC Wainwright reissued a “buy” rating and set a $120.00 target price on shares of Cytokinetics in a research note on Friday, February 28th. Stifel Nicolaus initiated coverage on Cytokinetics in a research note on Wednesday, January 22nd. They issued a “buy” rating and a $80.00 price target on the stock. Finally, JMP Securities reissued a “market outperform” rating and set a $78.00 price objective on shares of Cytokinetics in a research report on Friday, February 7th.

Insider Activity at Cytokinetics

In related news, CEO Robert I. Blum sold 16,970 shares of the business’s stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $43.44, for a total transaction of $737,176.80. Following the completion of the sale, the chief executive officer now owns 364,181 shares of the company’s stock, valued at $15,820,022.64. This represents a 4.45 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Fady Ibraham Malik sold 2,000 shares of the firm’s stock in a transaction that occurred on Tuesday, January 7th. The stock was sold at an average price of $49.32, for a total value of $98,640.00. Following the completion of the sale, the executive vice president now directly owns 116,071 shares in the company, valued at approximately $5,724,621.72. This trade represents a 1.69 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 43,834 shares of company stock valued at $1,949,275 over the last ninety days. Corporate insiders own 3.40% of the company’s stock.

Hedge Funds Weigh In On Cytokinetics

Several hedge funds have recently modified their holdings of CYTK. Jones Financial Companies Lllp raised its holdings in Cytokinetics by 189.8% during the 4th quarter. Jones Financial Companies Lllp now owns 571 shares of the biopharmaceutical company’s stock worth $27,000 after buying an additional 374 shares during the period. Centricity Wealth Management LLC purchased a new position in shares of Cytokinetics in the fourth quarter worth approximately $29,000. AlphaQuest LLC raised its holdings in shares of Cytokinetics by 113,500.0% during the fourth quarter. AlphaQuest LLC now owns 1,136 shares of the biopharmaceutical company’s stock valued at $53,000 after acquiring an additional 1,135 shares during the period. J.Safra Asset Management Corp lifted its position in shares of Cytokinetics by 62.1% in the 4th quarter. J.Safra Asset Management Corp now owns 1,751 shares of the biopharmaceutical company’s stock valued at $83,000 after acquiring an additional 671 shares in the last quarter. Finally, Blue Trust Inc. boosted its stake in Cytokinetics by 85.8% in the 4th quarter. Blue Trust Inc. now owns 1,823 shares of the biopharmaceutical company’s stock worth $86,000 after purchasing an additional 842 shares during the period.

Cytokinetics Price Performance

Shares of Cytokinetics stock opened at $46.57 on Tuesday. The firm has a market cap of $5.51 billion, a PE ratio of -8.66 and a beta of 0.95. Cytokinetics has a twelve month low of $40.53 and a twelve month high of $75.71. The company has a quick ratio of 9.28, a current ratio of 9.28 and a debt-to-equity ratio of 5.93. The business has a 50-day moving average price of $45.96 and a 200 day moving average price of $49.82.

Cytokinetics (NASDAQ:CYTK) last issued its quarterly earnings results on Thursday, February 27th. The biopharmaceutical company reported ($1.26) earnings per share 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 analysts’ expectations of $14.26 million. Sell-side analysts predict 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.