Cytokinetics (NASDAQ:CYTK) Given “Buy” Rating at HC Wainwright

Cytokinetics (NASDAQ:CYTK)‘s stock had its “buy” rating reaffirmed by HC Wainwright in a research note issued to investors on Friday,Benzinga reports. They presently have a $120.00 price target on the biopharmaceutical company’s stock. HC Wainwright’s price target would indicate a potential upside of 152.90% from the company’s previous close.

Several other equities research analysts have also recently commented on CYTK. Citigroup began coverage on Cytokinetics in a research note on Friday, February 7th. They set a “buy” rating and a $86.00 price target for the company. Royal Bank of Canada raised their target price on shares of Cytokinetics from $80.00 to $82.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 18th. Mizuho lifted their target price on shares of Cytokinetics from $99.00 to $103.00 and gave the company an “outperform” rating in a report on Thursday, November 21st. JMP Securities reissued a “market outperform” rating and set a $78.00 price target on shares of Cytokinetics in a report on Friday, February 7th. Finally, Morgan Stanley raised Cytokinetics from an “equal weight” rating to an “overweight” rating and lowered their price objective for the company from $70.00 to $67.00 in a report on Thursday, February 13th. Two investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $82.00.

Cytokinetics Price Performance

Shares of NASDAQ CYTK opened at $47.45 on Friday. The stock has a market cap of $5.60 billion, a P/E ratio of -8.82 and a beta of 0.83. Cytokinetics has a twelve month low of $40.53 and a twelve month high of $75.71. The stock has a 50 day moving average of $47.28 and a two-hundred day moving average of $51.36. The company has a current ratio of 9.28, a quick ratio of 9.28 and a debt-to-equity ratio of 5.93.

Cytokinetics (NASDAQ:CYTK) last released its quarterly earnings results on Thursday, February 27th. The biopharmaceutical company reported ($1.26) EPS for the quarter, beating the consensus estimate of ($1.29) by $0.03. The business had revenue of $16.93 million during the quarter, compared to analysts’ expectations of $14.26 million. On average, research analysts forecast that Cytokinetics will post -5.24 earnings per share for the current year.

Insider Activity at Cytokinetics

In other news, CEO Robert I. Blum sold 5,000 shares of the company’s stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $50.76, for a total value of $253,800.00. Following the sale, the chief executive officer now directly owns 397,678 shares in the company, valued at $20,186,135.28. This represents a 1.24 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Wendall Wierenga sold 742 shares of Cytokinetics stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $48.61, for a total value of $36,068.62. Following the sale, the director now owns 24,559 shares of the company’s stock, valued at approximately $1,193,812.99. This represents a 2.93 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 22,822 shares of company stock valued at $1,127,848. Insiders own 3.40% of the company’s stock.

Institutional Investors Weigh In On Cytokinetics

Several hedge funds have recently modified their holdings of the company. Jones Financial Companies Lllp lifted its stake in shares of Cytokinetics by 189.8% during the fourth quarter. Jones Financial Companies Lllp now owns 571 shares of the biopharmaceutical company’s stock valued at $27,000 after buying an additional 374 shares during the period. Centricity Wealth Management LLC acquired a new position in Cytokinetics in the 4th quarter valued at $29,000. Blue Trust Inc. lifted its stake in shares of Cytokinetics by 225.9% during the 3rd quarter. Blue Trust Inc. now owns 981 shares of the biopharmaceutical company’s stock worth $53,000 after purchasing an additional 680 shares during the period. AlphaQuest LLC boosted 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 worth $53,000 after purchasing an additional 1,135 shares during the last quarter. Finally, J.Safra Asset Management Corp grew its position in shares of Cytokinetics by 62.1% in the fourth quarter. J.Safra Asset Management Corp now owns 1,751 shares of the biopharmaceutical company’s stock valued at $83,000 after purchasing an additional 671 shares during the period.

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.