Brokerages Set Cytokinetics, Incorporated (NASDAQ:CYTK) Price Target at $84.07

Shares of Cytokinetics, Incorporated (NASDAQ:CYTK) have been given an average rating of “Moderate Buy” by the fifteen research firms that are covering the firm, Marketbeat Ratings reports. Three investment analysts have rated the stock with a hold recommendation and twelve have given a buy recommendation to the company. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $83.64.

A number of research analysts have weighed in on CYTK shares. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Cytokinetics in a report on Friday, October 18th. Needham & Company LLC reissued a “buy” rating and issued a $72.00 price target on shares of Cytokinetics in a report on Monday, December 2nd. Mizuho increased their price objective on shares of Cytokinetics from $99.00 to $103.00 and gave the company an “outperform” rating in a report on Thursday, November 21st. HC Wainwright reiterated a “buy” rating and issued a $120.00 price objective on shares of Cytokinetics in a report on Friday, December 20th. Finally, Royal Bank of Canada boosted their price target on Cytokinetics from $80.00 to $82.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 18th.

Cytokinetics Stock Performance

CYTK opened at $49.36 on Thursday. The firm has a market capitalization of $5.83 billion, a PE ratio of -9.17 and a beta of 0.80. Cytokinetics has a 12-month low of $45.66 and a 12-month high of $110.25. The firm has a 50 day moving average of $50.80 and a two-hundred day moving average of $53.65. 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 issued its quarterly earnings data on Wednesday, November 6th. The biopharmaceutical company reported ($1.36) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.27) by ($0.09). The firm had revenue of $0.46 million during the quarter, compared to analyst estimates of $1.21 million. During the same period in the previous year, the business posted ($1.35) earnings per share. The firm’s revenue for the quarter was up 22.5% on a year-over-year basis. On average, analysts anticipate that Cytokinetics will post -5.25 EPS for the current year.

Insider Buying and Selling

In other news, Director Wendall Wierenga sold 742 shares of Cytokinetics stock in a transaction on Monday, December 16th. The shares were sold at an average price of $48.61, for a total value of $36,068.62. Following the transaction, the director now directly owns 24,559 shares of the company’s stock, valued at $1,193,812.99. The trade was a 2.93 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Robert I. Blum sold 5,000 shares of the firm’s stock in a transaction on Wednesday, October 9th. The stock was sold at an average price of $55.61, for a total transaction of $278,050.00. Following the transaction, the chief executive officer now directly owns 397,456 shares in the company, valued at $22,102,528.16. The trade was a 1.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 62,516 shares of company stock worth $3,282,433 over the last 90 days. 3.40% of the stock is owned by insiders.

Institutional Investors Weigh In On Cytokinetics

Several large investors have recently modified their holdings of the stock. UMB Bank n.a. grew its stake in shares of Cytokinetics by 65.6% during the 3rd quarter. UMB Bank n.a. now owns 601 shares of the biopharmaceutical company’s stock worth $32,000 after purchasing an additional 238 shares during the period. Blue Trust Inc. boosted its holdings in shares of Cytokinetics by 225.9% during the third 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 last quarter. Values First Advisors Inc. acquired a new position in shares of Cytokinetics during the 3rd quarter valued at about $54,000. Quarry LP raised its stake in Cytokinetics by 233.3% during the second quarter. Quarry LP now owns 2,000 shares of the biopharmaceutical company’s stock worth $108,000 after purchasing an additional 1,400 shares during the period. Finally, Avior Wealth Management LLC increased its stake in Cytokinetics by 57.1% during the third quarter. Avior Wealth Management LLC now owns 3,999 shares of the biopharmaceutical company’s stock worth $211,000 after acquiring an additional 1,454 shares during the last quarter.

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.