A number of other analysts also recently issued reports on CYTK. Cantor Fitzgerald reiterated an “overweight” rating and issued a $20.00 price objective (up from $14.00) on shares of Cytokinetics in a report on Friday, September 6th. Needham & Company LLC restated a “buy” rating and set a $24.00 target price on shares of Cytokinetics in a report on Friday, November 1st. They noted that the move was a valuation call. ValuEngine downgraded shares of Cytokinetics from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. Zacks Investment Research upgraded shares of Cytokinetics from a “sell” rating to a “hold” rating in a report on Monday, November 4th. Finally, JMP Securities set a $23.00 price objective on shares of Cytokinetics and gave the stock a “buy” rating in a research report on Friday, September 13th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and five have assigned a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $19.86.
Shares of NASDAQ CYTK traded up $0.02 during mid-day trading on Friday, hitting $9.80. The company’s stock had a trading volume of 417,075 shares, compared to its average volume of 560,798. The company has a debt-to-equity ratio of 12.35, a current ratio of 8.20 and a quick ratio of 8.20. The stock has a market cap of $571.32 million, a price-to-earnings ratio of -5.03 and a beta of 1.41. The company’s fifty day simple moving average is $10.09 and its 200-day simple moving average is $11.37. Cytokinetics has a one year low of $5.75 and a one year high of $14.94.
Cytokinetics (NASDAQ:CYTK) last announced its earnings results on Thursday, October 31st. The biopharmaceutical company reported ($0.50) EPS for the quarter, topping the consensus estimate of ($0.56) by $0.06. The firm had revenue of $6.06 million for the quarter, compared to the consensus estimate of $7.80 million. Cytokinetics had a negative net margin of 378.70% and a negative return on equity of 10,351.99%. On average, sell-side analysts predict that Cytokinetics will post -2.02 EPS for the current year.
In related news, CEO Robert I. Blum sold 6,000 shares of the business’s stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $8.08, for a total value of $48,480.00. Following the completion of the transaction, the chief executive officer now owns 235,057 shares of the company’s stock, valued at $1,899,260.56. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In the last ninety days, insiders sold 22,500 shares of company stock valued at $244,215. 5.70% of the stock is owned by insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of CYTK. Point72 Asset Management L.P. acquired a new position in shares of Cytokinetics in the second quarter valued at approximately $6,829,000. Morgan Stanley boosted its holdings in Cytokinetics by 220.0% in the second quarter. Morgan Stanley now owns 286,236 shares of the biopharmaceutical company’s stock valued at $3,220,000 after acquiring an additional 196,786 shares during the last quarter. Nuveen Asset Management LLC bought a new stake in Cytokinetics in the second quarter valued at approximately $2,203,000. BlackRock Inc. boosted its holdings in Cytokinetics by 2.2% in the second quarter. BlackRock Inc. now owns 9,058,271 shares of the biopharmaceutical company’s stock valued at $101,905,000 after acquiring an additional 195,445 shares during the last quarter. Finally, Vanguard Group Inc. boosted its holdings in Cytokinetics by 3.9% in the second quarter. Vanguard Group Inc. now owns 3,961,497 shares of the biopharmaceutical company’s stock valued at $44,566,000 after acquiring an additional 147,849 shares during the last quarter. 75.26% of the stock is owned by hedge funds and other institutional investors.
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 in which muscle performance is compromised and/or declining. The company is developing small molecule drug candidates primarily engineered to increase muscle function and contractility.
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