Cytokinetics (NASDAQ:CYTK) Given "Market Outperform" Rating at JMP Securities

JMP Securities reissued their market outperform rating on shares of Cytokinetics (NASDAQ:CYTK - Free Report) in a research report released on Tuesday,Benzinga reports. They currently have a $78.00 price target on the biopharmaceutical company's stock.

Several other equities research analysts have also commented on CYTK. Needham & Company LLC reiterated a "buy" rating and issued a $72.00 price objective on shares of Cytokinetics in a research report on Monday, December 2nd. Mizuho increased their price target 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. Royal Bank of Canada raised their price objective on shares of Cytokinetics from $80.00 to $82.00 and gave the stock an "outperform" rating in a research note on Wednesday, December 18th. HC Wainwright reaffirmed a "buy" rating and issued a $120.00 target price on shares of Cytokinetics in a research note on Friday. Finally, Cantor Fitzgerald reissued an "overweight" rating on shares of Cytokinetics in a research report on Friday, October 18th. Three equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $83.64.

Cytokinetics Price Performance

Shares of NASDAQ CYTK traded down $1.48 during midday trading on Tuesday, hitting $45.23. The company had a trading volume of 1,388,797 shares, compared to its average volume of 1,155,074. The business has a 50-day simple moving average of $50.33 and a two-hundred day simple moving average of $53.44. The firm has a market capitalization of $5.34 billion, a price-to-earnings ratio of -8.41 and a beta of 0.82. 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 has a twelve month low of $44.49 and a twelve month high of $86.63.

Cytokinetics (NASDAQ:CYTK - Get Free Report) last released its quarterly earnings data on Wednesday, November 6th. The biopharmaceutical company reported ($1.36) earnings per share for the quarter, missing the consensus estimate of ($1.27) by ($0.09). The company had revenue of $0.46 million during the quarter, compared to analysts' expectations of $1.21 million. Cytokinetics's quarterly revenue was up 22.5% compared to the same quarter last year. During the same period in the prior year, the firm earned ($1.35) earnings per share. Equities research analysts anticipate that Cytokinetics will post -5.25 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director Wendall Wierenga sold 742 shares of Cytokinetics stock in a transaction on Monday, December 16th. The stock was sold at an average price of $48.61, for a total value of $36,068.62. Following the transaction, the director now owns 24,559 shares in the company, valued at approximately $1,193,812.99. This trade represents a 2.93 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Fady Ibraham Malik sold 7,300 shares of the business's stock in a transaction dated Wednesday, October 30th. The shares were sold at an average price of $51.91, for a total value of $378,943.00. Following the sale, the executive vice president now directly owns 114,920 shares of the company's stock, valued at approximately $5,965,497.20. This trade represents a 5.97 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 52,216 shares of company stock valued at $2,707,436. Insiders own 3.40% of the company's stock.

Hedge Funds Weigh In On Cytokinetics

Hedge funds and other institutional investors have recently modified their holdings of the company. UMB Bank n.a. boosted its position 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 worth $32,000 after buying an additional 238 shares during the period. Blue Trust Inc. grew its position in Cytokinetics by 225.9% in the third quarter. Blue Trust Inc. now owns 981 shares of the biopharmaceutical company's stock valued at $53,000 after acquiring an additional 680 shares in the last quarter. Values First Advisors Inc. purchased a new stake in shares of Cytokinetics during the third quarter valued at approximately $54,000. Quarry LP lifted its position in shares of Cytokinetics by 233.3% during the second quarter. Quarry LP now owns 2,000 shares of the biopharmaceutical company's stock worth $108,000 after purchasing an additional 1,400 shares in the last quarter. Finally, Avior Wealth Management LLC boosted its stake in shares of Cytokinetics by 57.1% in the third quarter. Avior Wealth Management LLC now owns 3,999 shares of the biopharmaceutical company's stock valued at $211,000 after purchasing 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.