Cytokinetics, Incorporated (NASDAQ:CYTK) Given Average Rating of "Moderate Buy" by Analysts

Cytokinetics, Incorporated (NASDAQ:CYTK - Get Free Report) has been given an average recommendation of "Moderate Buy" by the sixteen analysts that are presently covering the firm, Marketbeat.com reports. Four analysts have rated the stock with a hold rating and twelve have issued a 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 $83.93.

Several equities analysts have recently commented on CYTK shares. JPMorgan Chase & Co. boosted their price objective on Cytokinetics from $65.00 to $71.00 and gave the company an "overweight" rating in a research report on Thursday, September 5th. Mizuho upped their price target on Cytokinetics from $99.00 to $103.00 and gave the stock an "outperform" rating in a research note on Thursday, November 21st. HC Wainwright reaffirmed a "buy" rating and set a $120.00 price objective on shares of Cytokinetics in a report on Monday, December 2nd. JMP Securities reissued a "market outperform" rating and issued a $78.00 target price on shares of Cytokinetics in a report on Wednesday, September 4th. Finally, The Goldman Sachs Group lowered shares of Cytokinetics from a "buy" rating to a "neutral" rating and dropped their target price for the stock from $85.00 to $60.00 in a research report on Tuesday, August 13th.

Insider Activity at Cytokinetics

In related news, EVP Fady Ibraham Malik sold 7,300 shares of Cytokinetics stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $52.10, for a total transaction of $380,330.00. Following the transaction, the executive vice president now directly owns 118,920 shares of the company's stock, valued at $6,195,732. This trade represents a 5.78 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Wendall Wierenga sold 4,452 shares of the company's stock in a transaction on Monday, October 28th. The stock was 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 of the company's stock, valued at approximately $1,283,207.75. This represents a 15.35 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 64,994 shares of company stock worth $3,427,975 over the last three months. 3.40% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Cytokinetics

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Darwin Global Management Ltd. acquired a new position in shares of Cytokinetics during the second quarter worth $246,074,000. Geode Capital Management LLC increased its position in Cytokinetics by 4.0% during the 3rd quarter. Geode Capital Management LLC now owns 2,848,584 shares of the biopharmaceutical company's stock valued at $150,433,000 after buying an additional 109,938 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in Cytokinetics by 42.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,321,391 shares of the biopharmaceutical company's stock valued at $69,769,000 after buying an additional 395,709 shares in the last quarter. Westfield Capital Management Co. LP raised its stake in Cytokinetics by 38.9% in the third quarter. Westfield Capital Management Co. LP now owns 1,212,886 shares of the biopharmaceutical company's stock valued at $64,040,000 after buying an additional 339,373 shares during the last quarter. Finally, Janus Henderson Group PLC boosted its holdings in Cytokinetics by 17.2% in the third quarter. Janus Henderson Group PLC now owns 1,143,830 shares of the biopharmaceutical company's stock worth $60,399,000 after acquiring an additional 167,501 shares in the last quarter.

Cytokinetics Stock Up 1.1 %

NASDAQ CYTK traded up $0.56 during trading hours on Friday, hitting $50.96. 580,844 shares of the company traded hands, compared to its average volume of 1,358,998. The business's 50-day moving average is $53.04 and its 200-day moving average is $54.03. The stock has a market capitalization of $6.01 billion, a price-to-earnings ratio of -9.47 and a beta of 0.80. Cytokinetics has a twelve month low of $32.70 and a twelve month high of $110.25. 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 (NASDAQ:CYTK - Get Free Report) last announced its earnings results on Wednesday, November 6th. The biopharmaceutical company reported ($1.36) EPS for the quarter, missing analysts' consensus estimates of ($1.27) by ($0.09). The company had revenue of $0.46 million during the quarter, compared to the consensus estimate of $1.21 million. The business's revenue for the quarter was up 22.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($1.35) earnings per share. Sell-side analysts anticipate that Cytokinetics will post -5.25 earnings per share for the current year.

Cytokinetics Company Profile

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.