Cytokinetics (NASDAQ:CYTK) Coverage Initiated by Analysts at Citigroup

Research analysts at Citigroup began coverage on shares of Cytokinetics (NASDAQ:CYTK - Get Free Report) in a note issued to investors on Friday, MarketBeat Ratings reports. The firm set a "buy" rating and a $86.00 price target on the biopharmaceutical company's stock. Citigroup's target price points to a potential upside of 105.50% from the company's previous close.

A number of other analysts have also weighed in on the stock. Cantor Fitzgerald reissued an "overweight" rating on shares of Cytokinetics in a research report on Friday, October 18th. Mizuho raised 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 issued a $120.00 price objective on shares of Cytokinetics in a research report on Tuesday, January 21st. Stifel Nicolaus started coverage on shares of Cytokinetics in a research report on Wednesday, January 22nd. They set a "buy" rating and a $80.00 target price on the stock. Finally, JMP Securities restated a "market outperform" rating and set a $78.00 price objective on shares of Cytokinetics in a report on Tuesday, January 14th. Two analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $83.00.

Cytokinetics Trading Down 0.9 %

NASDAQ:CYTK traded down $0.36 during midday trading on Friday, hitting $41.85. 708,616 shares of the company traded hands, compared to its average volume of 1,388,871. Cytokinetics has a 12-month low of $41.64 and a 12-month high of $81.36. The firm has a market capitalization of $4.94 billion, a P/E ratio of -7.77 and a beta of 0.83. The company has a current ratio of 9.28, a quick ratio of 9.28 and a debt-to-equity ratio of 5.93. The firm's fifty day moving average is $48.15 and its 200-day moving average is $52.23.

Insider Buying and Selling at Cytokinetics

In other news, CEO Robert I. Blum sold 5,000 shares of the company's stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $50.55, for a total transaction of $252,750.00. Following the transaction, the chief executive officer now owns 397,456 shares in the company, valued at $20,091,400.80. This represents a 1.24 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director John T. Henderson sold 1,780 shares of Cytokinetics stock in a transaction that occurred on Wednesday, December 11th. The stock was sold at an average price of $50.42, for a total transaction of $89,747.60. Following the completion of the sale, the director now owns 38,461 shares of the company's stock, valued at $1,939,203.62. This trade represents a 4.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 33,122 shares of company stock worth $1,654,806 over the last three months. Corporate 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 company. Jones Financial Companies Lllp grew its stake in Cytokinetics by 189.8% during the 4th quarter. Jones Financial Companies Lllp now owns 571 shares of the biopharmaceutical company's stock valued at $27,000 after purchasing an additional 374 shares during the last quarter. Centricity Wealth Management LLC purchased a new stake in Cytokinetics in the fourth quarter valued at approximately $29,000. UMB Bank n.a. increased its holdings 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 buying an additional 238 shares during the period. Blue Trust Inc. lifted its stake in Cytokinetics by 225.9% during 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 during the period. Finally, AlphaQuest LLC boosted its holdings in shares of Cytokinetics by 113,500.0% in the 4th quarter. AlphaQuest LLC now owns 1,136 shares of the biopharmaceutical company's stock valued at $53,000 after acquiring an additional 1,135 shares during the last quarter.

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.