Cytokinetics (NASDAQ:CYTK) Earns Buy Rating from HC Wainwright

Cytokinetics (NASDAQ:CYTK)‘s stock had its “buy” rating restated by research analysts at HC Wainwright in a note issued to investors on Thursday,Benzinga reports. They presently have a $120.00 price target on the biopharmaceutical company’s stock. HC Wainwright’s target price points to a potential upside of 106.97% from the stock’s current price.

A number of other research analysts also recently issued reports on CYTK. JMP Securities restated a “market outperform” rating and set a $78.00 price target on shares of Cytokinetics in a report on Wednesday, September 4th. The Goldman Sachs Group downgraded Cytokinetics from a “buy” rating to a “neutral” rating and decreased their target price for the company from $85.00 to $60.00 in a report on Tuesday, August 13th. JPMorgan Chase & Co. lifted their price target 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 restated an “overweight” rating on shares of Cytokinetics in a report on Friday, October 18th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $72.00 target price on shares of Cytokinetics in a research note on Thursday, October 17th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $83.67.

Cytokinetics Stock Performance

NASDAQ:CYTK opened at $57.98 on Thursday. The company has a debt-to-equity ratio of 5.93, a quick ratio of 10.39 and a current ratio of 10.39. Cytokinetics has a fifty-two week low of $30.68 and a fifty-two week high of $110.25. The firm has a market cap of $6.82 billion, a PE ratio of -10.80 and a beta of 0.78. The business has a 50 day moving average price of $54.10 and a 200-day moving average price of $55.64.

Cytokinetics (NASDAQ:CYTK) last announced its quarterly earnings results on Wednesday, November 6th. The biopharmaceutical company reported ($1.36) earnings per share 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 earned ($1.35) earnings per share. The firm’s revenue for the quarter was up 22.5% compared to the same quarter last year. Equities research analysts predict that Cytokinetics will post -5.15 earnings per share for the current year.

Insider Buying and Selling at Cytokinetics

In related news, CEO Robert I. Blum sold 11,500 shares of the company’s stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $55.17, for a total value of $634,455.00. Following the transaction, the chief executive officer now owns 399,412 shares in the company, valued at $22,035,560.04. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, CEO Robert I. Blum sold 5,000 shares of the business’s stock in a transaction on Friday, November 1st. The stock was sold at an average price of $51.63, for a total value of $258,150.00. Following the completion of the transaction, the chief executive officer now owns 397,456 shares in the company, valued at $20,520,653.28. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Robert I. Blum sold 11,500 shares of Cytokinetics stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $55.17, for a total value of $634,455.00. Following the completion of the sale, the chief executive officer now owns 399,412 shares of the company’s stock, valued at $22,035,560.04. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 70,236 shares of company stock worth $3,800,944. 3.40% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Darwin Global Management Ltd. purchased a new position in Cytokinetics during the second quarter valued at $246,074,000. Integral Health Asset Management LLC boosted its position in shares of Cytokinetics by 122.2% in the second quarter. Integral Health Asset Management LLC now owns 1,000,000 shares of the biopharmaceutical company’s stock worth $54,180,000 after purchasing an additional 550,000 shares during the period. Hood River Capital Management LLC increased its stake in shares of Cytokinetics by 5.9% in the second quarter. Hood River Capital Management LLC now owns 737,637 shares of the biopharmaceutical company’s stock worth $39,965,000 after purchasing an additional 40,990 shares in the last quarter. Westfield Capital Management Co. LP bought a new stake in shares of Cytokinetics during the 1st quarter valued at $51,277,000. Finally, Great Point Partners LLC boosted its holdings in Cytokinetics by 134.5% in the 2nd quarter. Great Point Partners LLC now owns 474,202 shares of the biopharmaceutical company’s stock worth $25,692,000 after buying an additional 272,000 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.