Cytokinetics’ (CYTK) “Buy” Rating Reaffirmed at HC Wainwright

HC Wainwright reiterated their buy rating on shares of Cytokinetics (NASDAQ:CYTK) in a research note issued to investors on Friday morning,Benzinga reports. They currently have a $120.00 price objective on the biopharmaceutical company’s stock.

Several other research firms have also recently issued reports on CYTK. Citigroup assumed coverage on shares of Cytokinetics in a research report on Friday, February 7th. They issued a “buy” rating and a $86.00 price objective for the company. Needham & Company LLC reiterated a “buy” rating and issued a $72.00 price target on shares of Cytokinetics in a report on Thursday, February 6th. JMP Securities restated a “market outperform” rating and set a $78.00 price objective on shares of Cytokinetics in a report on Friday, February 7th. Evercore ISI upgraded Cytokinetics to a “strong-buy” rating in a report on Friday, February 7th. Finally, Royal Bank of Canada raised their price target on Cytokinetics from $80.00 to $82.00 and gave the company an “outperform” rating in a research note on Wednesday, December 18th. Two equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $82.00.

Cytokinetics Trading Down 3.1 %

Shares of NASDAQ CYTK opened at $46.00 on Friday. Cytokinetics has a fifty-two week low of $40.53 and a fifty-two week high of $75.71. The company has a debt-to-equity ratio of 5.93, a quick ratio of 9.28 and a current ratio of 9.28. The company has a market cap of $5.43 billion, a price-to-earnings ratio of -8.55 and a beta of 0.83. The business’s 50 day moving average price is $47.22 and its 200-day moving average price is $51.28.

Cytokinetics (NASDAQ:CYTK) last released its earnings results on Thursday, February 27th. The biopharmaceutical company reported ($1.26) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.29) by $0.03. The business had revenue of $16.93 million during the quarter, compared to analysts’ expectations of $14.26 million. On average, sell-side analysts expect that Cytokinetics will post -5.24 earnings per share for the current year.

Insider Buying and Selling at Cytokinetics

In other news, CEO Robert I. Blum sold 5,000 shares of the stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $50.76, for a total transaction of $253,800.00. Following the completion of the sale, the chief executive officer now owns 397,678 shares in the company, valued at approximately $20,186,135.28. This represents a 1.24 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director John T. Henderson sold 1,780 shares of the business’s stock in a transaction on Wednesday, December 11th. The stock was sold at an average price of $50.42, for a total value of $89,747.60. Following the transaction, the director now owns 38,461 shares in the company, valued at approximately $1,939,203.62. This trade represents a 4.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 22,822 shares of company stock worth $1,127,848 over the last three months. Corporate insiders own 3.40% of the company’s stock.

Institutional Trading of Cytokinetics

Large investors have recently added to or reduced their stakes in the company. Jones Financial Companies Lllp raised its position in Cytokinetics by 189.8% during the 4th quarter. Jones Financial Companies Lllp now owns 571 shares of the biopharmaceutical company’s stock worth $27,000 after buying an additional 374 shares during the last quarter. Centricity Wealth Management LLC acquired a new stake in shares of Cytokinetics in the fourth quarter worth $29,000. Blue Trust Inc. increased its stake in shares of Cytokinetics by 225.9% in the third quarter. Blue Trust Inc. now owns 981 shares of the biopharmaceutical company’s stock worth $53,000 after acquiring an additional 680 shares during the period. AlphaQuest LLC raised its holdings in shares of Cytokinetics by 113,500.0% during the fourth quarter. AlphaQuest LLC now owns 1,136 shares of the biopharmaceutical company’s stock worth $53,000 after purchasing an additional 1,135 shares during the last quarter. Finally, J.Safra Asset Management Corp lifted its position in Cytokinetics by 62.1% during the fourth quarter. J.Safra Asset Management Corp now owns 1,751 shares of the biopharmaceutical company’s stock valued at $83,000 after purchasing an additional 671 shares during the period.

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.