Cytokinetics' (CYTK) "Market Outperform" Rating Reaffirmed at JMP Securities

Cytokinetics (NASDAQ:CYTK - Get Free Report)'s stock had its "market outperform" rating reiterated by equities research analysts at JMP Securities in a research report issued to clients and investors on Friday,Benzinga reports. They presently have a $78.00 price target on the biopharmaceutical company's stock. JMP Securities' price target would suggest a potential upside of 87.35% from the stock's current price.

A number of other research analysts have also commented on CYTK. Cantor Fitzgerald reiterated an "overweight" rating on shares of Cytokinetics in a report on Friday, October 18th. Needham & Company LLC reiterated a "buy" rating and set a $72.00 price target on shares of Cytokinetics in a report on Thursday, February 6th. HC Wainwright restated a "buy" rating and issued a $120.00 target price on shares of Cytokinetics in a research note on Tuesday, January 21st. Stifel Nicolaus initiated coverage on Cytokinetics in a research note on Wednesday, January 22nd. They issued a "buy" rating and a $80.00 target price for the company. Finally, Royal Bank of Canada upped their target price on Cytokinetics from $80.00 to $82.00 and gave the company an "outperform" rating in a research note on Wednesday, December 18th. Two analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $83.00.

Cytokinetics Stock Performance

Cytokinetics stock traded down $0.58 during trading hours on Friday, reaching $41.63. 756,736 shares of the company were exchanged, compared to its average volume of 1,389,510. Cytokinetics has a 12 month low of $41.64 and a 12 month high of $81.36. The firm has a market cap of $4.91 billion, a price-to-earnings ratio of -7.74 and a beta of 0.83. The stock has a 50-day moving average of $48.15 and a 200 day moving average of $52.23. The company has a current ratio of 9.28, a quick ratio of 9.28 and a debt-to-equity ratio of 5.93.

Insider Transactions at Cytokinetics

In other news, CEO Robert I. Blum sold 5,000 shares of the stock in a transaction on Monday, November 18th. The stock was sold at an average price of $50.55, for a total transaction of $252,750.00. Following the sale, the chief executive officer now owns 397,456 shares in the company, valued at approximately $20,091,400.80. This represents a 1.24 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Fady Ibraham Malik sold 7,300 shares of the stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $50.16, for a total value of $366,168.00. Following the sale, the executive vice president now owns 111,878 shares in the company, valued at $5,611,800.48. The trade was a 6.13 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 33,122 shares of company stock worth $1,654,806. Insiders own 3.40% of the company's stock.

Hedge Funds Weigh In On Cytokinetics

Several hedge funds have recently added to or reduced their stakes in the company. Louisiana State Employees Retirement System boosted its holdings in Cytokinetics by 0.6% in the third quarter. Louisiana State Employees Retirement System now owns 32,600 shares of the biopharmaceutical company's stock valued at $1,721,000 after acquiring an additional 200 shares during the last quarter. UMB Bank n.a. lifted its stake in Cytokinetics by 65.6% in the third quarter. UMB Bank n.a. now owns 601 shares of the biopharmaceutical company's stock valued at $32,000 after buying an additional 238 shares during the period. Jones Financial Companies Lllp lifted its stake in Cytokinetics by 189.8% in the fourth quarter. Jones Financial Companies Lllp now owns 571 shares of the biopharmaceutical company's stock valued at $27,000 after buying an additional 374 shares during the period. Nisa Investment Advisors LLC lifted its stake in Cytokinetics by 2.9% in the third quarter. Nisa Investment Advisors LLC now owns 15,062 shares of the biopharmaceutical company's stock valued at $795,000 after buying an additional 430 shares during the period. Finally, MetLife Investment Management LLC lifted its stake in Cytokinetics by 0.4% in the third quarter. MetLife Investment Management LLC now owns 123,308 shares of the biopharmaceutical company's stock valued at $6,511,000 after buying an additional 538 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.