Cantor Fitzgerald Raises Earnings Estimates for Cytokinetics

Cytokinetics, Incorporated (NASDAQ:CYTKFree Report) – Cantor Fitzgerald increased their FY2025 earnings per share estimates for shares of Cytokinetics in a note issued to investors on Thursday, March 27th. Cantor Fitzgerald analyst C. Duncan now anticipates that the biopharmaceutical company will earn ($4.98) per share for the year, up from their prior estimate of ($5.28). The consensus estimate for Cytokinetics’ current full-year earnings is ($5.24) per share.

Cytokinetics (NASDAQ:CYTKGet Free Report) last released its earnings results on Thursday, February 27th. The biopharmaceutical company reported ($1.26) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.29) by $0.03. The firm had revenue of $16.93 million during the quarter, compared to analysts’ expectations of $14.26 million.

A number of other research analysts have also weighed in on CYTK. Evercore ISI raised Cytokinetics to a “strong-buy” rating in a research note on Friday, February 7th. HC Wainwright reissued a “buy” rating and issued a $120.00 price target on shares of Cytokinetics in a research note on Friday, February 28th. Royal Bank of Canada lifted their price target on Cytokinetics from $80.00 to $82.00 and gave the company an “outperform” rating in a report on Wednesday, December 18th. Citigroup started coverage on shares of Cytokinetics in a report on Friday, February 7th. They set a “buy” rating and a $86.00 price objective on the stock. Finally, Morgan Stanley set a $67.00 target price on shares of Cytokinetics in a report on Friday, March 7th. Two investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Cytokinetics presently has an average rating of “Moderate Buy” and a consensus target price of $82.00.

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Cytokinetics Stock Performance

Shares of CYTK opened at $40.19 on Monday. The company has a market capitalization of $4.76 billion, a price-to-earnings ratio of -7.47 and a beta of 0.95. The company has a debt-to-equity ratio of 5.93, a quick ratio of 9.28 and a current ratio of 9.28. Cytokinetics has a 1 year low of $39.81 and a 1 year high of $75.71. The company’s 50 day simple moving average is $45.64 and its 200 day simple moving average is $49.42.

Insider Transactions at Cytokinetics

In other news, EVP Andrew Callos sold 2,775 shares of the business’s stock in a transaction on Monday, March 17th. The shares were sold at an average price of $44.38, for a total transaction of $123,154.50. Following the transaction, the executive vice president now directly owns 34,888 shares of the company’s stock, valued at approximately $1,548,329.44. The trade was a 7.37 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Fady Ibraham Malik sold 2,000 shares of the company’s stock in a transaction on Tuesday, January 7th. The shares were sold at an average price of $49.32, for a total transaction of $98,640.00. Following the completion of the transaction, the executive vice president now owns 116,071 shares of the company’s stock, valued at $5,724,621.72. This trade represents a 1.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 58,834 shares of company stock valued at $2,560,525 over the last quarter. Company insiders own 3.40% of the company’s stock.

Hedge Funds Weigh In On Cytokinetics

Institutional investors have recently added to or reduced their stakes in the company. The Manufacturers Life Insurance Company increased its position in shares of Cytokinetics by 23.6% during the third quarter. The Manufacturers Life Insurance Company now owns 214,832 shares of the biopharmaceutical company’s stock worth $11,343,000 after acquiring an additional 41,057 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Cytokinetics by 19.4% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 26,376 shares of the biopharmaceutical company’s stock worth $1,393,000 after purchasing an additional 4,282 shares during the last quarter. Erste Asset Management GmbH acquired a new position in shares of Cytokinetics in the 3rd quarter valued at approximately $3,164,000. Checkpoint Capital L.P. boosted its stake in shares of Cytokinetics by 145.7% during the 3rd quarter. Checkpoint Capital L.P. now owns 466,813 shares of the biopharmaceutical company’s stock valued at $24,648,000 after buying an additional 276,813 shares during the last quarter. Finally, HighVista Strategies LLC purchased a new position in shares of Cytokinetics during the 3rd quarter valued at approximately $531,000.

About Cytokinetics

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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.

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Earnings History and Estimates for Cytokinetics (NASDAQ:CYTK)

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