Cytokinetics, Incorporated (NASDAQ:CYTK) Given Consensus Recommendation of "Moderate Buy" by Brokerages

Cytokinetics, Incorporated (NASDAQ:CYTK - Get Free Report) has been given a consensus recommendation of "Moderate Buy" by the eighteen ratings firms that are currently covering the firm, MarketBeat.com reports. Two investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating on the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $82.00.

CYTK has been the topic of several recent analyst reports. Needham & Company LLC reaffirmed a "buy" rating and set a $72.00 target price on shares of Cytokinetics in a research note on Thursday, February 6th. Evercore ISI upgraded shares of Cytokinetics to a "strong-buy" rating in a research report on Friday, February 7th. Morgan Stanley upgraded shares of Cytokinetics from an "equal weight" rating to an "overweight" rating and lowered their price objective for the company from $70.00 to $67.00 in a research note on Thursday, February 13th. JMP Securities reaffirmed a "market outperform" rating and set a $78.00 price target on shares of Cytokinetics in a research note on Friday, February 7th. Finally, Citigroup initiated coverage on Cytokinetics in a report on Friday, February 7th. They issued a "buy" rating and a $86.00 price objective for the company.

Insider Buying and Selling at Cytokinetics

In related news, EVP Fady Ibraham Malik sold 7,300 shares of the firm's stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $50.16, for a total transaction of $366,168.00. Following the completion of the sale, the executive vice president now directly owns 111,878 shares of the company's stock, valued at $5,611,800.48. This trade represents a 6.13 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director John T. Henderson sold 1,780 shares of the company's stock in a transaction dated Wednesday, December 11th. The stock was sold at an average price of $50.42, for a total transaction 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 position. The disclosure for this sale can be found here. Insiders have sold 30,122 shares of company stock worth $1,494,016 over the last three months. Company insiders own 3.40% of the company's stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of CYTK. Jones Financial Companies Lllp lifted its stake in shares of Cytokinetics by 189.8% during the fourth quarter. Jones Financial Companies Lllp now owns 571 shares of the biopharmaceutical company's stock valued at $27,000 after acquiring an additional 374 shares during the period. Centricity Wealth Management LLC bought a new stake in Cytokinetics during the 4th quarter worth about $29,000. Blue Trust Inc. lifted its position in Cytokinetics by 225.9% during the 3rd quarter. Blue Trust Inc. now owns 981 shares of the biopharmaceutical company's stock valued at $53,000 after purchasing an additional 680 shares during the period. AlphaQuest LLC boosted its stake in shares of Cytokinetics by 113,500.0% in the 4th quarter. AlphaQuest LLC now owns 1,136 shares of the biopharmaceutical company's stock valued at $53,000 after purchasing an additional 1,135 shares during the last quarter. Finally, Values First Advisors Inc. bought a new position in shares of Cytokinetics in the 3rd quarter valued at about $54,000.

Cytokinetics Stock Down 1.7 %

Cytokinetics stock traded down $0.86 during midday trading on Friday, hitting $50.26. 2,169,437 shares of the stock were exchanged, compared to its average volume of 1,607,616. 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 company has a 50 day moving average price of $47.26 and a two-hundred day moving average price of $51.55. The firm has a market cap of $5.93 billion, a P/E ratio of -9.34 and a beta of 0.83. Cytokinetics has a 1 year low of $40.53 and a 1 year high of $81.36.

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.