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

Cytokinetics, Incorporated (NASDAQ:CYTK - Get Free Report) has been given a consensus rating of "Moderate Buy" by the eighteen research firms that are currently covering the stock, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a hold recommendation, fifteen have assigned a buy recommendation and one has assigned a strong buy recommendation to 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.

Several analysts recently weighed in on the stock. Mizuho lifted their price objective on shares of Cytokinetics from $99.00 to $103.00 and gave the company an "outperform" rating in a research report on Thursday, November 21st. Evercore ISI raised Cytokinetics to a "strong-buy" rating in a report on Friday, February 7th. JMP Securities reissued a "market outperform" rating and issued a $78.00 price objective on shares of Cytokinetics in a report on Friday, February 7th. HC Wainwright reaffirmed a "buy" rating and set a $120.00 target price on shares of Cytokinetics in a research note on Friday, February 28th. Finally, Morgan Stanley set a $67.00 price target on Cytokinetics in a research note on Friday, March 7th.

Cytokinetics Stock Performance

Shares of NASDAQ:CYTK traded up $2.32 during trading on Tuesday, hitting $45.42. 2,233,795 shares of the company traded hands, compared to its average volume of 1,469,303. The company has a quick ratio of 9.28, a current ratio of 9.28 and a debt-to-equity ratio of 5.93. The business's fifty day moving average is $45.99 and its 200-day moving average is $50.04. The stock has a market capitalization of $5.38 billion, a price-to-earnings ratio of -8.57 and a beta of 0.95. Cytokinetics has a one year low of $40.53 and a one year high of $75.71.

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Cytokinetics (NASDAQ:CYTK - Get Free Report) last issued its quarterly earnings data on Thursday, February 27th. The biopharmaceutical company reported ($1.26) EPS for the quarter, topping analysts' consensus estimates of ($1.29) by $0.03. The company had revenue of $16.93 million for the quarter, compared to the consensus estimate of $14.26 million. As a group, equities analysts predict that Cytokinetics will post -5.24 earnings per share for the current fiscal year.

Insider Activity at Cytokinetics

In other Cytokinetics news, CEO Robert I. Blum sold 16,970 shares of the company's stock in a transaction that occurred on Thursday, March 6th. The stock was 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 of the company's stock, valued at $15,820,022.64. This represents a 4.45 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Fady Ibraham Malik sold 2,000 shares of the business's stock in a transaction on Tuesday, January 21st. The stock was 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 owns 116,071 shares of the company's stock, valued at $5,329,980.32. The trade was a 1.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 43,834 shares of company stock valued at $1,949,275. 3.40% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Cytokinetics

A number of hedge funds and other institutional investors have recently made changes to their positions in CYTK. Oppenheimer & Co. Inc. raised its holdings in shares of Cytokinetics by 10.7% in the 3rd quarter. Oppenheimer & Co. Inc. now owns 8,546 shares of the biopharmaceutical company's stock worth $451,000 after buying an additional 824 shares in the last quarter. Royce & Associates LP boosted its stake in shares of Cytokinetics by 70.2% in the 3rd quarter. Royce & Associates LP now owns 24,250 shares of the biopharmaceutical company's stock valued at $1,280,000 after purchasing an additional 10,000 shares in the last quarter. Swiss National Bank increased its position in shares of Cytokinetics by 10.2% during the 3rd quarter. Swiss National Bank now owns 215,500 shares of the biopharmaceutical company's stock worth $11,378,000 after purchasing an additional 20,000 shares in the last quarter. Pathstone Holdings LLC lifted its holdings in Cytokinetics by 17.0% during the 3rd quarter. Pathstone Holdings LLC now owns 34,560 shares of the biopharmaceutical company's stock valued at $1,825,000 after purchasing an additional 5,027 shares during the last quarter. Finally, B. Metzler seel. Sohn & Co. Holding AG acquired a new position in Cytokinetics in the third quarter valued at about $248,000.

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.