Cytokinetics, Incorporated (NASDAQ:CYTK) Receives $82.00 Average PT from Brokerages

Cytokinetics, Incorporated (NASDAQ:CYTK) has been given a consensus rating of “Moderate Buy” by the eighteen analysts that are currently covering the stock, MarketBeat Ratings reports. 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. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $82.00.

CYTK has been the subject of several recent analyst reports. Evercore ISI upgraded Cytokinetics to a “strong-buy” rating in a research note on Friday, February 7th. HC Wainwright restated a “buy” rating and issued a $120.00 price target on shares of Cytokinetics in a research note on Friday, February 28th. Needham & Company LLC restated a “buy” rating and issued a $72.00 price target on shares of Cytokinetics in a research note on Thursday, February 6th. Citigroup initiated coverage on Cytokinetics in a research note on Friday, February 7th. They issued a “buy” rating and a $86.00 price target for the company. Finally, Stifel Nicolaus initiated coverage on Cytokinetics in a research note on Wednesday, January 22nd. They issued a “buy” rating and a $80.00 price target for the company.

Cytokinetics Stock Performance

Shares of CYTK stock opened at $43.10 on Tuesday. The stock has a market cap of $5.10 billion, a PE ratio of -8.01 and a beta of 0.95. The business has a 50-day simple moving average of $45.99 and a 200-day simple moving average of $50.04. The company has a quick ratio of 9.28, a current ratio of 9.28 and a debt-to-equity ratio of 5.93. Cytokinetics has a 52-week low of $40.53 and a 52-week high of $75.71.

Cytokinetics (NASDAQ:CYTK) last issued its quarterly earnings data on Thursday, February 27th. The biopharmaceutical company reported ($1.26) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.29) by $0.03. The company had revenue of $16.93 million during the quarter, compared to analyst estimates of $14.26 million. On average, equities analysts expect that Cytokinetics will post -5.24 EPS for the current year.

Insider Transactions at Cytokinetics

In other news, EVP Fady Ibraham Malik sold 2,000 shares of the business’s stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $45.92, for a total transaction of $91,840.00. Following the transaction, the executive vice president now directly owns 116,071 shares in the company, valued at $5,329,980.32. The trade was a 1.69 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Andrew Callos sold 3,341 shares of the business’s stock in a transaction that occurred on Thursday, March 6th. The stock was sold at an average price of $43.27, for a total value of $144,565.07. Following the transaction, the executive vice president now owns 64,434 shares in the company, valued at approximately $2,788,059.18. This represents a 4.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 43,834 shares of company stock worth $1,949,275 in the last ninety days. Insiders own 3.40% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in CYTK. Jones Financial Companies Lllp grew its position in Cytokinetics by 189.8% in the fourth quarter. Jones Financial Companies Lllp now owns 571 shares of the biopharmaceutical company’s stock worth $27,000 after acquiring an additional 374 shares during the period. Centricity Wealth Management LLC purchased a new position in Cytokinetics in the fourth quarter worth approximately $29,000. AlphaQuest LLC grew its position in Cytokinetics by 113,500.0% in the fourth quarter. AlphaQuest LLC now owns 1,136 shares of the biopharmaceutical company’s stock worth $53,000 after acquiring an additional 1,135 shares during the period. J.Safra Asset Management Corp grew its position in Cytokinetics by 62.1% in the fourth quarter. J.Safra Asset Management Corp now owns 1,751 shares of the biopharmaceutical company’s stock worth $83,000 after acquiring an additional 671 shares during the period. Finally, Blue Trust Inc. grew its position in Cytokinetics by 85.8% in the fourth quarter. Blue Trust Inc. now owns 1,823 shares of the biopharmaceutical company’s stock worth $86,000 after acquiring an additional 842 shares during the period.

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.