B. Riley Brokers Reduce Earnings Estimates for Cytokinetics

Cytokinetics, Incorporated (NASDAQ:CYTK) – Research analysts at B. Riley cut their FY2025 EPS estimates for shares of Cytokinetics in a research report issued to clients and investors on Wednesday, March 5th. B. Riley analyst M. Mamtani now forecasts that the biopharmaceutical company will post earnings per share of ($5.65) for the year, down from their prior forecast of ($5.30). The consensus estimate for Cytokinetics’ current full-year earnings is ($5.24) per share. B. Riley also issued estimates for Cytokinetics’ FY2026 earnings at ($5.58) EPS, FY2027 earnings at ($4.63) EPS and FY2028 earnings at ($2.37) EPS.

A number of other equities analysts have also issued reports on the stock. Royal Bank of Canada raised their price target on shares of Cytokinetics from $80.00 to $82.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 18th. Evercore ISI raised shares of Cytokinetics to a “strong-buy” rating in a research report on Friday, February 7th. JMP Securities reaffirmed a “market outperform” rating and set a $78.00 target price on shares of Cytokinetics in a report on Friday, February 7th. Needham & Company LLC reaffirmed a “buy” rating and set a $72.00 target price on shares of Cytokinetics in a report on Thursday, February 6th. Finally, Stifel Nicolaus initiated coverage on shares of Cytokinetics in a report on Wednesday, January 22nd. They set a “buy” rating and a $80.00 target price for the company. Two equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $82.00.

Cytokinetics Stock Performance

CYTK opened at $43.43 on Friday. Cytokinetics has a 12-month low of $40.53 and a 12-month high of $75.71. 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 firm has a market capitalization of $5.14 billion, a PE ratio of -8.07 and a beta of 0.95. The firm has a 50 day moving average of $46.80 and a two-hundred day moving average of $50.92.

Cytokinetics (NASDAQ:CYTK) last posted its quarterly earnings results on Thursday, February 27th. The biopharmaceutical company reported ($1.26) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.29) by $0.03. The business had revenue of $16.93 million for the quarter, compared to analysts’ expectations of $14.26 million.

Institutional Investors Weigh In On Cytokinetics

Several institutional investors and hedge funds have recently added to or reduced their stakes in CYTK. State of Alaska Department of Revenue boosted its stake in Cytokinetics by 7.4% during the 3rd quarter. State of Alaska Department of Revenue now owns 13,390 shares of the biopharmaceutical company’s stock worth $706,000 after purchasing an additional 925 shares during the last quarter. Van ECK Associates Corp boosted its stake in Cytokinetics by 21.3% during the 3rd quarter. Van ECK Associates Corp now owns 71,691 shares of the biopharmaceutical company’s stock worth $3,802,000 after purchasing an additional 12,565 shares during the last quarter. Crossmark Global Holdings Inc. boosted its stake in Cytokinetics by 16.3% during the 3rd quarter. Crossmark Global Holdings Inc. now owns 7,640 shares of the biopharmaceutical company’s stock worth $403,000 after purchasing an additional 1,072 shares during the last quarter. State of New Jersey Common Pension Fund D boosted its stake in Cytokinetics by 9.3% during the 3rd quarter. State of New Jersey Common Pension Fund D now owns 42,851 shares of the biopharmaceutical company’s stock worth $2,263,000 after purchasing an additional 3,654 shares during the last quarter. Finally, Oppenheimer & Co. Inc. boosted its position in shares of Cytokinetics by 10.7% during the 3rd quarter. Oppenheimer & Co. Inc. now owns 8,546 shares of the biopharmaceutical company’s stock valued at $451,000 after acquiring an additional 824 shares during the last quarter.

Insider Buying and Selling

In other Cytokinetics news, CEO Robert I. Blum sold 16,970 shares of Cytokinetics stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $43.44, for a total transaction of $737,176.80. Following the sale, the chief executive officer now owns 364,181 shares of the company’s stock, valued at $15,820,022.64. The trade was a 4.45 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Andrew Callos sold 3,341 shares of Cytokinetics stock in a transaction on Thursday, March 6th. The stock was sold at an average price of $43.27, for a total transaction of $144,565.07. Following the sale, the executive vice president now directly owns 64,434 shares in the company, valued at approximately $2,788,059.18. This trade represents a 4.93 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 38,133 shares of company stock valued at $1,755,790. 3.40% of the stock is owned by corporate insiders.

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.