Cytokinetics, Incorporated (NASDAQ:CYTK) Receives $83.93 Average PT from Analysts

Shares of Cytokinetics, Incorporated (NASDAQ:CYTK) have earned a consensus rating of “Moderate Buy” from the sixteen research firms that are presently covering the company, Marketbeat reports. Four investment analysts have rated the stock with a hold recommendation and twelve have issued a buy recommendation on the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $83.93.

CYTK has been the topic of several analyst reports. JMP Securities reaffirmed a “market outperform” rating and issued a $78.00 price target on shares of Cytokinetics in a report on Wednesday, September 4th. JPMorgan Chase & Co. boosted their price objective on shares of Cytokinetics from $65.00 to $71.00 and gave the company an “overweight” rating in a report on Thursday, September 5th. Cantor Fitzgerald reissued an “overweight” rating on shares of Cytokinetics in a report on Friday, October 18th. Needham & Company LLC reissued a “buy” rating and set a $72.00 price objective on shares of Cytokinetics in a report on Monday, December 2nd. Finally, Royal Bank of Canada started coverage on shares of Cytokinetics in a report on Friday, November 8th. They set an “outperform” rating and a $80.00 price objective on the stock.

Cytokinetics Trading Down 0.9 %

CYTK opened at $50.24 on Friday. The firm has a market cap of $5.93 billion, a P/E ratio of -9.34 and a beta of 0.80. Cytokinetics has a 12 month low of $32.70 and a 12 month high of $110.25. The company has a current ratio of 9.28, a quick ratio of 9.28 and a debt-to-equity ratio of 5.93. The stock has a 50-day moving average of $52.80 and a 200 day moving average of $54.00.

Cytokinetics (NASDAQ:CYTK) last announced its quarterly earnings data on Wednesday, November 6th. The biopharmaceutical company reported ($1.36) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.27) by ($0.09). The business had revenue of $0.46 million for the quarter, compared to analyst estimates of $1.21 million. During the same period in the prior year, the firm posted ($1.35) earnings per share. Cytokinetics’s revenue was up 22.5% compared to the same quarter last year. As a group, research analysts forecast that Cytokinetics will post -5.25 EPS for the current year.

Insider Buying and Selling

In related news, Director John T. Henderson sold 1,780 shares of the company’s stock in a transaction dated Wednesday, December 11th. The shares were sold at an average price of $50.42, for a total transaction of $89,747.60. Following the completion of the sale, the director now owns 38,461 shares of the company’s stock, valued at approximately $1,939,203.62. This represents a 4.42 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Wendall Wierenga sold 4,452 shares of the company’s stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $52.25, for a total transaction of $232,617.00. Following the sale, the director now directly owns 24,559 shares of the company’s stock, valued at approximately $1,283,207.75. This represents a 15.35 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 74,074 shares of company stock worth $3,887,395 in the last 90 days. Insiders own 3.40% of the company’s stock.

Institutional Trading of Cytokinetics

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Louisiana State Employees Retirement System increased its holdings in shares of Cytokinetics by 0.6% during the 3rd quarter. Louisiana State Employees Retirement System now owns 32,600 shares of the biopharmaceutical company’s stock worth $1,721,000 after buying an additional 200 shares during the last quarter. UMB Bank n.a. increased its holdings in shares of Cytokinetics by 65.6% during the 3rd quarter. UMB Bank n.a. now owns 601 shares of the biopharmaceutical company’s stock worth $32,000 after buying an additional 238 shares during the last quarter. Nisa Investment Advisors LLC increased its holdings in shares of Cytokinetics by 2.9% during the 3rd quarter. Nisa Investment Advisors LLC now owns 15,062 shares of the biopharmaceutical company’s stock worth $795,000 after buying an additional 430 shares during the last quarter. J.Safra Asset Management Corp increased its holdings in shares of Cytokinetics by 642.3% during the 2nd quarter. J.Safra Asset Management Corp now owns 527 shares of the biopharmaceutical company’s stock worth $29,000 after buying an additional 456 shares during the last quarter. Finally, MetLife Investment Management LLC increased its holdings in shares of Cytokinetics by 0.4% during the 3rd quarter. MetLife Investment Management LLC now owns 123,308 shares of the biopharmaceutical company’s stock worth $6,511,000 after buying an additional 538 shares during the last quarter.

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.