Cytokinetics (NASDAQ:CYTK) Coverage Initiated by Analysts at Stifel Nicolaus

Stifel Nicolaus assumed coverage on shares of Cytokinetics (NASDAQ:CYTK) in a report issued on Wednesday, Marketbeat.com reports. The brokerage issued a buy rating and a $80.00 price objective on the biopharmaceutical company’s stock.

Several other research firms have also weighed in on CYTK. Cantor Fitzgerald reiterated an “overweight” rating on shares of Cytokinetics in a report on Friday, October 18th. JMP Securities restated a “market outperform” rating and set a $78.00 target price on shares of Cytokinetics in a report on Tuesday, January 14th. Royal Bank of Canada upped their price target on shares of Cytokinetics from $80.00 to $82.00 and gave the company an “outperform” rating in a report on Wednesday, December 18th. Mizuho raised their price objective on shares of Cytokinetics from $99.00 to $103.00 and gave the stock an “outperform” rating in a report on Thursday, November 21st. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $72.00 target price on shares of Cytokinetics in a research note on Monday, December 2nd. Three analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat, Cytokinetics presently has an average rating of “Moderate Buy” and an average price target of $83.40.

Cytokinetics Stock Up 2.2 %

Shares of NASDAQ:CYTK opened at $46.82 on Wednesday. The company has a debt-to-equity ratio of 5.93, a current ratio of 9.28 and a quick ratio of 9.28. The stock has a market cap of $5.53 billion, a price-to-earnings ratio of -8.70 and a beta of 0.82. The company has a 50 day moving average of $48.94 and a 200-day moving average of $53.03. Cytokinetics has a one year low of $44.49 and a one year high of $84.92.

Cytokinetics (NASDAQ:CYTK) last issued its earnings results on Wednesday, November 6th. The biopharmaceutical company reported ($1.36) EPS for the quarter, missing the consensus estimate of ($1.27) by ($0.09). The business had revenue of $0.46 million for the quarter, compared to the consensus estimate of $1.21 million. During the same period last year, the firm earned ($1.35) EPS. The business’s revenue was up 22.5% on a year-over-year basis. On average, sell-side analysts forecast that Cytokinetics will post -5.23 earnings per share for the current year.

Insider Activity at Cytokinetics

In related news, Director Wendall Wierenga sold 742 shares of the firm’s stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $48.61, for a total value of $36,068.62. Following the completion of the sale, the director now directly owns 24,559 shares in the company, valued at approximately $1,193,812.99. This trade represents a 2.93 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Fady Ibraham Malik sold 6,342 shares of the business’s stock in a transaction that occurred on Tuesday, November 12th. The stock was sold at an average price of $58.48, for a total value of $370,880.16. Following the transaction, the executive vice president now directly owns 113,878 shares in the company, valued at approximately $6,659,585.44. This trade represents a 5.28 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 54,216 shares of company stock valued at $2,799,276. 3.40% of the stock is owned by corporate insiders.

Institutional Trading of Cytokinetics

A number of hedge funds have recently made changes to their positions in CYTK. Dimensional Fund Advisors LP raised its position in shares of Cytokinetics by 27.9% in the second quarter. Dimensional Fund Advisors LP now owns 148,561 shares of the biopharmaceutical company’s stock valued at $8,049,000 after purchasing an additional 32,372 shares during the period. Pacer Advisors Inc. lifted its position in Cytokinetics by 21.2% during the second quarter. Pacer Advisors Inc. now owns 18,720 shares of the biopharmaceutical company’s stock worth $1,014,000 after acquiring an additional 3,271 shares during the last quarter. Sei Investments Co. increased its stake in shares of Cytokinetics by 8.1% during the second quarter. Sei Investments Co. now owns 63,009 shares of the biopharmaceutical company’s stock worth $3,414,000 after purchasing an additional 4,695 shares during the period. Thrivent Financial for Lutherans increased its stake in shares of Cytokinetics by 12.7% during the second quarter. Thrivent Financial for Lutherans now owns 27,704 shares of the biopharmaceutical company’s stock worth $1,501,000 after purchasing an additional 3,132 shares during the period. Finally, Bank of Montreal Can boosted its stake in Cytokinetics by 14.8% in the 2nd quarter. Bank of Montreal Can now owns 13,392 shares of the biopharmaceutical company’s stock valued at $727,000 after purchasing an additional 1,727 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.