Cytokinetics (NASDAQ:CYTK) Given "Buy" Rating at HC Wainwright

Cytokinetics (NASDAQ:CYTK - Get Free Report)'s stock had its "buy" rating reissued by equities researchers at HC Wainwright in a note issued to investors on Friday,Benzinga reports. They presently have a $120.00 price objective on the biopharmaceutical company's stock. HC Wainwright's target price indicates a potential upside of 218.89% from the company's current price.

A number of other brokerages also recently commented on CYTK. Citigroup initiated coverage on shares of Cytokinetics in a research note on Friday, February 7th. They issued a "buy" rating and a $86.00 price objective for the company. Stifel Nicolaus assumed coverage on shares of Cytokinetics in a report on Wednesday, January 22nd. They issued a "buy" rating and a $80.00 target price for the company. Needham & Company LLC reaffirmed a "buy" rating and issued a $72.00 price objective on shares of Cytokinetics in a research report on Thursday, February 6th. JMP Securities reissued a "market outperform" rating and set a $78.00 target price on shares of Cytokinetics in a research report on Friday, February 7th. Finally, Morgan Stanley set a $67.00 price target on shares of Cytokinetics in a report on Friday, March 7th. Two analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $82.00.

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Cytokinetics Trading Up 8.9 %

CYTK stock traded up $3.06 during trading on Friday, hitting $37.63. The company had a trading volume of 875,358 shares, compared to its average volume of 1,559,633. Cytokinetics has a 52-week low of $32.99 and a 52-week high of $75.71. The company has a 50 day simple moving average of $44.09 and a 200-day simple moving average of $48.56. The firm has a market capitalization of $4.46 billion, a P/E ratio of -7.03 and a beta of 0.94. The company has a quick ratio of 9.28, a current ratio of 9.28 and a debt-to-equity ratio of 5.93.

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

Insider Transactions at Cytokinetics

In other news, EVP Fady Ibraham Malik sold 2,000 shares of the firm's stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $48.06, for a total transaction of $96,120.00. Following the sale, the executive vice president now directly owns 116,071 shares in the company, valued at $5,578,372.26. This trade represents a 1.69 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Andrew Callos sold 2,886 shares of the business's stock in a transaction that occurred on Monday, April 7th. The shares were sold at an average price of $35.78, for a total value of $103,261.08. Following the completion of the sale, the executive vice president now owns 64,689 shares of the company's stock, valued at $2,314,572.42. This trade represents a 4.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 60,170 shares of company stock valued at $2,582,889 in the last 90 days. 3.40% of the stock is currently owned by company insiders.

Institutional Trading of Cytokinetics

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Deep Track Capital LP lifted its position in shares of Cytokinetics by 296.9% in the fourth quarter. Deep Track Capital LP now owns 2,500,000 shares of the biopharmaceutical company's stock valued at $117,600,000 after acquiring an additional 1,870,094 shares in the last quarter. Capital International Investors acquired a new stake in shares of Cytokinetics in the fourth quarter valued at about $51,564,000. T. Rowe Price Investment Management Inc. boosted its position in Cytokinetics by 11.0% during the fourth 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 in the 4th quarter worth approximately $46,556,000. Finally, Vestal Point Capital LP lifted its position in Cytokinetics by 56.7% during the fourth quarter. Vestal Point Capital LP now owns 2,350,000 shares of the biopharmaceutical company's stock worth $110,544,000 after buying an additional 850,000 shares in 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.