Cytokinetics, Incorporated (NASDAQ:CYTK) Receives Average Rating of "Moderate Buy" from Analysts

Cytokinetics, Incorporated (NASDAQ:CYTK - Get Free Report) has been given an average rating of "Moderate Buy" by the sixteen ratings firms that are currently covering the firm, Marketbeat.com reports. Four analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $84.07.

CYTK has been the topic of several recent analyst reports. Royal Bank of Canada increased their price objective on Cytokinetics from $80.00 to $82.00 and gave the company an "outperform" rating in a research report on Wednesday, December 18th. Mizuho lifted their price target on shares of Cytokinetics from $99.00 to $103.00 and gave the stock an "outperform" rating in a research note on Thursday, November 21st. Needham & Company LLC restated a "buy" rating and set a $72.00 price objective on shares of Cytokinetics in a research report on Monday, December 2nd. HC Wainwright reaffirmed a "buy" rating and issued a $120.00 target price on shares of Cytokinetics in a research report on Friday, December 20th. Finally, JMP Securities reissued a "market outperform" rating and set a $78.00 price target on shares of Cytokinetics in a report on Wednesday, September 4th.

Insider Buying and Selling at Cytokinetics

In other Cytokinetics news, Director Wendall Wierenga sold 4,452 shares of the business's stock in a transaction on Monday, October 28th. The shares were sold at an average price of $52.25, for a total value of $232,617.00. Following the sale, the director now owns 24,559 shares in the company, valued at $1,283,207.75. The trade was a 15.35 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Robert I. Blum sold 5,000 shares of the firm's stock in a transaction dated Wednesday, October 9th. The shares were sold at an average price of $55.61, for a total value of $278,050.00. Following the transaction, the chief executive officer now owns 397,456 shares of the company's stock, valued at approximately $22,102,528.16. The trade was a 1.24 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 62,516 shares of company stock valued at $3,282,433 over the last 90 days. 3.40% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Cytokinetics

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Van ECK Associates Corp boosted its position in shares of Cytokinetics by 2.1% during the 2nd quarter. Van ECK Associates Corp now owns 59,126 shares of the biopharmaceutical company's stock valued at $3,203,000 after acquiring an additional 1,233 shares during the last quarter. Rhumbline Advisers grew its stake in shares of Cytokinetics by 23.7% in the 2nd quarter. Rhumbline Advisers now owns 379,257 shares of the biopharmaceutical company's stock worth $20,548,000 after buying an additional 72,618 shares in the last quarter. TD Asset Management Inc increased its holdings in shares of Cytokinetics by 26.7% in the 2nd quarter. TD Asset Management Inc now owns 360,598 shares of the biopharmaceutical company's stock worth $19,537,000 after buying an additional 76,078 shares during the last quarter. Victory Capital Management Inc. raised its position in shares of Cytokinetics by 10.2% during the 2nd quarter. Victory Capital Management Inc. now owns 37,039 shares of the biopharmaceutical company's stock valued at $2,007,000 after buying an additional 3,436 shares in the last quarter. Finally, Arizona State Retirement System raised its position in shares of Cytokinetics by 14.7% during the 2nd quarter. Arizona State Retirement System now owns 27,812 shares of the biopharmaceutical company's stock valued at $1,507,000 after buying an additional 3,559 shares in the last quarter.

Cytokinetics Stock Up 4.0 %

Cytokinetics stock traded up $1.89 during trading hours on Thursday, hitting $48.93. The stock had a trading volume of 865,647 shares, compared to its average volume of 1,962,245. The stock's 50-day moving average price is $50.84 and its 200-day moving average price is $53.66. The stock has a market capitalization of $5.77 billion, a P/E ratio of -9.09 and a beta of 0.80. Cytokinetics has a 12-month low of $45.66 and a 12-month high of $110.25. The company has a quick ratio of 9.28, a current ratio of 9.28 and a debt-to-equity ratio of 5.93.

Cytokinetics (NASDAQ:CYTK - Get Free Report) last announced its quarterly earnings data 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 company had revenue of $0.46 million for the quarter, compared to the consensus estimate of $1.21 million. During the same period in the prior year, the firm posted ($1.35) EPS. The firm's revenue was up 22.5% compared to the same quarter last year. Equities research analysts anticipate that Cytokinetics will post -5.25 EPS for the current fiscal year.

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.