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

Cytokinetics, Incorporated (NASDAQ:CYTK) has been given an average rating of “Moderate Buy” by the sixteen brokerages that are currently covering the stock, Marketbeat Ratings reports. Four analysts have rated the stock with a hold recommendation and twelve have issued a buy recommendation on the company. The average 1-year target price among brokers that have covered the stock in the last year is $83.67.

CYTK has been the subject of several recent research reports. JPMorgan Chase & Co. upped their price target on shares of Cytokinetics from $65.00 to $71.00 and gave the stock an “overweight” rating in a research report on Thursday, September 5th. The Goldman Sachs Group lowered shares of Cytokinetics from a “buy” rating to a “neutral” rating and dropped their price target for the company from $85.00 to $60.00 in a research note on Tuesday, August 13th. HC Wainwright reiterated a “buy” rating and set a $120.00 price objective on shares of Cytokinetics in a research report on Thursday, November 7th. Cantor Fitzgerald restated an “overweight” rating on shares of Cytokinetics in a research report on Friday, October 18th. Finally, Royal Bank of Canada began coverage on Cytokinetics in a research report on Friday, November 8th. They set an “outperform” rating and a $80.00 price target for the company.

Cytokinetics Trading Down 8.2 %

Shares of NASDAQ CYTK opened at $50.22 on Wednesday. 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 stock’s 50 day moving average price is $54.08 and its two-hundred day moving average price is $55.20. Cytokinetics has a 52-week low of $30.68 and a 52-week high of $110.25. The stock has a market capitalization of $5.93 billion, a P/E ratio of -9.33 and a beta of 0.78.

Cytokinetics (NASDAQ:CYTK) last announced its quarterly earnings data on Wednesday, November 6th. The biopharmaceutical company reported ($1.36) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.27) by ($0.09). The company had revenue of $0.46 million for the quarter, compared to analyst estimates of $1.21 million. The firm’s revenue was up 22.5% on a year-over-year basis. During the same period in the previous year, the company posted ($1.35) earnings per share. On average, analysts anticipate that Cytokinetics will post -4.32 earnings per share for the current fiscal year.

Insider Transactions at Cytokinetics

In related news, CEO Robert I. Blum sold 5,000 shares of the business’s stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $51.63, for a total transaction of $258,150.00. Following the completion of the sale, the chief executive officer now directly owns 397,456 shares of the company’s stock, valued at $20,520,653.28. The trade was a 1.24 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Wendall Wierenga sold 4,452 shares of the firm’s stock in a transaction on Monday, October 28th. The stock was sold at an average price of $52.25, for a total value of $232,617.00. Following the completion of the transaction, the director now owns 24,559 shares in the company, valued at $1,283,207.75. This represents a 15.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 60,078 shares of company stock worth $3,261,369. Corporate insiders own 3.40% of the company’s stock.

Institutional Trading of Cytokinetics

A number of large investors have recently bought and sold shares of CYTK. J.Safra Asset Management Corp lifted its holdings in shares of Cytokinetics by 642.3% in the second quarter. J.Safra Asset Management Corp now owns 527 shares of the biopharmaceutical company’s stock valued at $29,000 after purchasing an additional 456 shares in the last quarter. UMB Bank n.a. lifted its stake in Cytokinetics by 65.6% in the 3rd quarter. UMB Bank n.a. now owns 601 shares of the biopharmaceutical company’s stock valued at $32,000 after acquiring an additional 238 shares in the last quarter. Blue Trust Inc. boosted its position in 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 acquiring an additional 680 shares during the last quarter. Values First Advisors Inc. bought a new position in shares of Cytokinetics during the 3rd quarter worth approximately $54,000. Finally, EntryPoint Capital LLC acquired a new stake in shares of Cytokinetics in the first quarter valued at approximately $74,000.

About Cytokinetics

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.