Cytokinetics (NASDAQ:CYTK) Earns Buy Rating from HC Wainwright

HC Wainwright reaffirmed their buy rating on shares of Cytokinetics (NASDAQ:CYTK - Free Report) in a research report sent to investors on Friday morning,Benzinga reports.

A number of other equities research analysts have also recently issued reports on the stock. Royal Bank of Canada upped their price target on shares of Cytokinetics from $80.00 to $82.00 and gave the company an "outperform" rating in a report on Wednesday, December 18th. Needham & Company LLC restated a "buy" rating and set a $72.00 target price on shares of Cytokinetics in a research note on Monday, December 2nd. Mizuho lifted their price target on Cytokinetics from $99.00 to $103.00 and gave the stock an "outperform" rating in a research report on Thursday, November 21st. Finally, Cantor Fitzgerald reiterated an "overweight" rating on shares of Cytokinetics in a report on Friday, October 18th. Three analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat.com, Cytokinetics currently has an average rating of "Moderate Buy" and an average target price of $83.64.

Cytokinetics Stock Down 1.6 %

Shares of CYTK traded down $0.75 during trading hours on Friday, hitting $46.62. 1,758,065 shares of the company were exchanged, compared to its average volume of 1,093,894. The company has a debt-to-equity ratio of 5.93, a quick ratio of 9.28 and a current ratio of 9.28. The company has a market cap of $5.50 billion, a PE ratio of -8.67 and a beta of 0.82. The firm's 50 day moving average is $50.53 and its 200-day moving average is $53.52. Cytokinetics has a 52 week low of $45.17 and a 52 week high of $100.49.

Cytokinetics (NASDAQ:CYTK - Get Free Report) last announced its earnings results on Wednesday, November 6th. The biopharmaceutical company reported ($1.36) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($1.27) by ($0.09). The business had revenue of $0.46 million during the quarter, compared to analysts' expectations of $1.21 million. During the same period in the prior year, the firm earned ($1.35) earnings per share. The firm's revenue for the quarter was up 22.5% on a year-over-year basis. On average, equities research analysts forecast that Cytokinetics will post -5.25 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Wendall Wierenga sold 4,452 shares of Cytokinetics stock in a transaction that occurred 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 completion of the transaction, the director now owns 24,559 shares in the company, valued at approximately $1,283,207.75. The trade was a 15.35 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Fady Ibraham Malik sold 7,300 shares of the stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $54.19, for a total value of $395,587.00. Following the sale, the executive vice president now owns 116,920 shares in the company, valued at approximately $6,335,894.80. This trade represents a 5.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 59,516 shares of company stock worth $3,103,023 over the last quarter. Company insiders own 3.40% of the company's stock.

Hedge Funds Weigh In On Cytokinetics

A number of institutional investors and hedge funds have recently bought and sold shares of CYTK. UMB Bank n.a. increased its holdings in shares of Cytokinetics by 65.6% in the third quarter. UMB Bank n.a. now owns 601 shares of the biopharmaceutical company's stock valued at $32,000 after purchasing an additional 238 shares in the last quarter. Blue Trust Inc. increased its stake in shares of Cytokinetics by 225.9% in the 3rd quarter. Blue Trust Inc. now owns 981 shares of the biopharmaceutical company's stock valued at $53,000 after buying an additional 680 shares during the period. Values First Advisors Inc. bought a new stake in shares of Cytokinetics during the third quarter worth $54,000. Quarry LP lifted its stake in shares of Cytokinetics by 233.3% during the second quarter. Quarry LP now owns 2,000 shares of the biopharmaceutical company's stock valued at $108,000 after acquiring an additional 1,400 shares during the period. Finally, Avior Wealth Management LLC lifted its stake in shares of Cytokinetics by 57.1% during the third quarter. Avior Wealth Management LLC now owns 3,999 shares of the biopharmaceutical company's stock valued at $211,000 after acquiring an additional 1,454 shares during the period.

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.