Cytokinetics, Incorporated (NASDAQ:CYTK) Receives $83.67 Average Price Target from Brokerages

Shares of Cytokinetics, Incorporated (NASDAQ:CYTK - Get Free Report) have been given a consensus rating of "Moderate Buy" by the sixteen brokerages that are presently covering the stock, MarketBeat.com reports. Four investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $83.67.

Several brokerages have commented on CYTK. HC Wainwright reissued a "buy" rating and set a $120.00 target price on shares of Cytokinetics in a research note on Thursday, November 7th. The Goldman Sachs Group cut shares of Cytokinetics from a "buy" rating to a "neutral" rating and lowered their price objective for the stock from $85.00 to $60.00 in a research report on Tuesday, August 13th. JPMorgan Chase & Co. boosted their target price on shares of Cytokinetics from $65.00 to $71.00 and gave the stock an "overweight" rating in a research note on Thursday, September 5th. Royal Bank of Canada assumed coverage on shares of Cytokinetics in a report on Friday, November 8th. They set an "outperform" rating and a $80.00 price target for the company. Finally, Cantor Fitzgerald restated an "overweight" rating on shares of Cytokinetics in a research report on Friday, October 18th.

Cytokinetics Stock Up 0.8 %

Shares of Cytokinetics stock traded up $0.46 on Wednesday, reaching $56.65. 378,608 shares of the stock were exchanged, compared to its average volume of 2,064,547. The firm's 50 day moving average is $54.16 and its 200-day moving average is $55.38. The company has a debt-to-equity ratio of 5.93, a quick ratio of 9.28 and a current ratio of 9.28. Cytokinetics has a one year low of $30.68 and a one year high of $110.25.

Cytokinetics (NASDAQ:CYTK - Get Free Report) last issued its earnings results on Wednesday, November 6th. The biopharmaceutical company reported ($1.36) earnings per share for the quarter, missing analysts' consensus estimates of ($1.27) by ($0.09). The business had revenue of $0.46 million during the quarter, compared to analysts' expectations of $1.21 million. During the same quarter in the previous year, the company posted ($1.35) earnings per share. The business's quarterly revenue was up 22.5% on a year-over-year basis. On average, sell-side analysts forecast that Cytokinetics will post -5.31 EPS for the current fiscal year.

Insider Transactions at Cytokinetics

In related news, CEO Robert I. Blum sold 5,000 shares of the firm's stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $51.63, for a total transaction of $258,150.00. Following the completion of the sale, the chief executive officer now owns 397,456 shares in the company, valued at approximately $20,520,653.28. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In related news, CEO Robert I. Blum sold 5,000 shares of Cytokinetics stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $51.63, for a total value of $258,150.00. Following the completion of the sale, the chief executive officer now owns 397,456 shares of the company's stock, valued at approximately $20,520,653.28. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Fady Ibraham Malik sold 7,384 shares of the stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $57.01, for a total transaction of $420,961.84. Following the transaction, the executive vice president now owns 122,920 shares of the company's stock, valued at $7,007,669.20. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 53,736 shares of company stock worth $2,890,489 in the last 90 days. Insiders own 3.40% of the company's stock.

Hedge Funds Weigh In On Cytokinetics

Hedge funds have recently made changes to their positions in the stock. J.Safra Asset Management Corp grew its position in shares of Cytokinetics by 642.3% during the 2nd quarter. J.Safra Asset Management Corp now owns 527 shares of the biopharmaceutical company's stock valued at $29,000 after purchasing an additional 456 shares in the last quarter. UMB Bank n.a. increased its stake in Cytokinetics by 65.6% in the 3rd quarter. UMB Bank n.a. now owns 601 shares of the biopharmaceutical company's stock worth $32,000 after acquiring an additional 238 shares during the last quarter. Blue Trust Inc. raised its holdings in shares of Cytokinetics by 225.9% in the 3rd quarter. Blue Trust Inc. now owns 981 shares of the biopharmaceutical company's stock valued at $53,000 after acquiring an additional 680 shares in the last quarter. Values First Advisors Inc. bought a new stake in shares of Cytokinetics during the 3rd quarter valued at about $54,000. Finally, EntryPoint Capital LLC purchased a new position in shares of Cytokinetics during the first quarter worth about $74,000.

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.