Cytokinetics’ (CYTK) Market Outperform Rating Reiterated at JMP Securities

JMP Securities reaffirmed their market outperform rating on shares of Cytokinetics (NASDAQ:CYTK) in a report published on Thursday,Benzinga reports. The firm currently has a $78.00 price target on the biopharmaceutical company’s stock.

Other equities analysts have also issued reports about the stock. Royal Bank of Canada boosted their price objective on shares of Cytokinetics from $80.00 to $82.00 and gave the stock an “outperform” rating in a report on Wednesday, December 18th. Needham & Company LLC restated a “buy” rating and issued a $72.00 price target on shares of Cytokinetics in a research note on Tuesday, April 8th. Evercore ISI raised Cytokinetics to a “strong-buy” rating in a report on Friday, February 7th. HC Wainwright reissued a “buy” rating and issued a $120.00 target price on shares of Cytokinetics in a research report on Friday, April 4th. Finally, Citigroup began coverage on shares of Cytokinetics in a research note on Friday, February 7th. They set a “buy” rating and a $86.00 target price on the stock. Two research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $82.00.

Cytokinetics Trading Up 2.1 %

Cytokinetics stock opened at $38.65 on Thursday. Cytokinetics has a 12 month low of $32.74 and a 12 month high of $73.76. The company has a market capitalization of $4.58 billion, a price-to-earnings ratio of -7.18 and a beta of 0.94. The business’s fifty day simple moving average is $43.17 and its two-hundred day simple moving average is $48.18. 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 announced 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 firm had revenue of $16.93 million during the quarter, compared to the consensus estimate of $14.26 million. As a group, equities analysts predict that Cytokinetics will post -5.24 earnings per share for the current fiscal year.

Insider Transactions at Cytokinetics

In other Cytokinetics news, EVP Andrew Callos sold 2,775 shares of the firm’s stock in a transaction that occurred 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 sale, the executive vice president now owns 34,888 shares in the company, valued at approximately $1,548,329.44. This trade represents a 7.37 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Fady Ibraham Malik sold 2,000 shares of Cytokinetics stock in a transaction that occurred on Tuesday, January 21st. The shares were 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. This represents a 1.69 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 65,170 shares of company stock worth $2,766,739 in the last 90 days. 3.40% of the stock is currently owned by insiders.

Institutional Trading of Cytokinetics

Institutional investors and hedge funds have recently modified their holdings of the company. Stifel Financial Corp increased its stake in Cytokinetics by 8.5% in the 3rd quarter. Stifel Financial Corp now owns 25,067 shares of the biopharmaceutical company’s stock worth $1,324,000 after buying an additional 1,959 shares in the last quarter. XTX Topco Ltd purchased a new stake in shares of Cytokinetics during the third quarter worth about $521,000. Geode Capital Management LLC raised its stake in Cytokinetics by 4.0% during the 3rd quarter. Geode Capital Management LLC now owns 2,848,584 shares of the biopharmaceutical company’s stock valued at $150,433,000 after purchasing an additional 109,938 shares during the period. Teachers Retirement System of The State of Kentucky lifted its holdings in Cytokinetics by 12.5% in the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 56,885 shares of the biopharmaceutical company’s stock worth $3,003,000 after purchasing an additional 6,300 shares in the last quarter. Finally, Retirement Systems of Alabama lifted its holdings in Cytokinetics by 1.0% in the 3rd quarter. Retirement Systems of Alabama now owns 142,930 shares of the biopharmaceutical company’s stock worth $7,547,000 after purchasing an additional 1,414 shares in the last quarter.

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.