Analysts Set Cytokinetics, Incorporated (NASDAQ:CYTK) PT at $82.00

Shares of Cytokinetics, Incorporated (NASDAQ:CYTK - Get Free Report) have received an average rating of "Moderate Buy" from the eighteen ratings firms that are covering the company, MarketBeat reports. Two research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating on the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $81.63.

Several research analysts recently issued reports on CYTK shares. Stifel Nicolaus assumed coverage on shares of Cytokinetics in a research note on Wednesday, January 22nd. They issued a "buy" rating and a $80.00 price target for the company. Bank of America dropped their price target on Cytokinetics from $62.00 to $54.00 and set a "neutral" rating on the stock in a research report on Tuesday. Evercore ISI upgraded Cytokinetics to a "strong-buy" rating in a research note on Friday, February 7th. HC Wainwright reissued a "buy" rating and issued a $120.00 target price on shares of Cytokinetics in a research note on Tuesday. Finally, Needham & Company LLC reaffirmed a "buy" rating and issued a $72.00 price objective on shares of Cytokinetics in a research report on Tuesday, April 8th.

Insider Buying and Selling at Cytokinetics

In other Cytokinetics news, EVP Fady Ibraham Malik sold 2,000 shares of the stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $45.92, for a total transaction of $91,840.00. Following the completion of the sale, the executive vice president now directly owns 116,071 shares of the company's stock, valued at $5,329,980.32. This trade represents a 1.69 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Robert I. Blum sold 16,970 shares of Cytokinetics stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $43.44, for a total transaction of $737,176.80. Following the completion of the sale, the chief executive officer now owns 364,181 shares in the company, valued at approximately $15,820,022.64. This represents a 4.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 65,170 shares of company stock valued at $2,766,739 over the last 90 days. 3.40% of the stock is currently owned by corporate insiders.

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Institutional Investors Weigh In On Cytokinetics

Several institutional investors have recently made changes to their positions in the company. Deep Track Capital LP raised its position in Cytokinetics by 296.9% in the 4th quarter. Deep Track Capital LP now owns 2,500,000 shares of the biopharmaceutical company's stock worth $117,600,000 after purchasing an additional 1,870,094 shares during the period. Capital International Investors purchased a new stake in shares of Cytokinetics in the fourth quarter worth approximately $51,564,000. T. Rowe Price Investment Management Inc. lifted its stake in shares of Cytokinetics by 11.0% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 10,752,123 shares of the biopharmaceutical company's stock worth $505,780,000 after acquiring an additional 1,062,136 shares during the last quarter. Norges Bank purchased a new position in Cytokinetics during the 4th quarter valued at $46,556,000. Finally, Vestal Point Capital LP grew its position in Cytokinetics by 56.7% in the 4th quarter. Vestal Point Capital LP now owns 2,350,000 shares of the biopharmaceutical company's stock valued at $110,544,000 after acquiring an additional 850,000 shares during the last quarter.

Cytokinetics Trading Down 3.1 %

Cytokinetics stock traded down $1.25 during mid-day trading on Friday, reaching $38.56. 3,012,699 shares of the company traded hands, compared to its average volume of 1,592,623. Cytokinetics has a 52-week low of $32.74 and a 52-week high of $71.60. The firm has a market capitalization of $4.60 billion, a price-to-earnings ratio of -7.17 and a beta of 0.94. The firm's 50 day moving average price is $42.95 and its 200 day moving average price is $48.06. The company has a debt-to-equity ratio of 5.93, a current ratio of 9.28 and a quick ratio of 9.28.

Cytokinetics (NASDAQ:CYTK - Get Free Report) last released its earnings results on Thursday, February 27th. The biopharmaceutical company reported ($1.26) EPS for the quarter, beating analysts' consensus estimates of ($1.29) by $0.03. The firm had revenue of $16.93 million during the quarter, compared to analysts' expectations of $14.26 million. On average, analysts anticipate that Cytokinetics will post -5.24 earnings per share 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.