Cytokinetics (NASDAQ:CYTK) Releases Quarterly Earnings Results

Cytokinetics (NASDAQ:CYTK - Get Free Report) announced its earnings results on Thursday. The biopharmaceutical company reported ($1.26) EPS for the quarter, beating analysts' consensus estimates of ($1.29) by $0.03, Zacks reports. The company had revenue of $16.93 million for the quarter, compared to analyst estimates of $14.26 million.

Cytokinetics Stock Down 6.8 %

NASDAQ:CYTK traded down $3.11 during mid-day trading on Monday, hitting $42.89. The company had a trading volume of 1,863,258 shares, compared to its average volume of 1,581,716. The business has a fifty day simple moving average of $47.10 and a 200-day simple moving average of $51.12. The company has a current ratio of 9.28, a quick ratio of 9.28 and a debt-to-equity ratio of 5.93. Cytokinetics has a 1 year low of $40.53 and a 1 year high of $75.71. The firm has a market capitalization of $5.06 billion, a price-to-earnings ratio of -7.97 and a beta of 0.83.

Insider Buying and Selling at Cytokinetics

In other news, EVP Fady Ibraham Malik sold 7,300 shares of the firm's stock in a transaction dated Tuesday, December 10th. The stock was sold at an average price of $50.64, for a total transaction of $369,672.00. Following the completion of the sale, the executive vice president now directly owns 116,071 shares in the company, valued at $5,877,835.44. This trade represents a 5.92 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Wendall Wierenga sold 742 shares of the firm's stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $48.61, for a total value of $36,068.62. Following the sale, the director now owns 24,559 shares of the company's stock, valued at $1,193,812.99. This represents a 2.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 17,822 shares of company stock valued at $874,048 over the last three months. 3.40% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on CYTK. HC Wainwright reissued a "buy" rating and set a $120.00 price target on shares of Cytokinetics in a research note on Friday. Evercore ISI raised Cytokinetics to a "strong-buy" rating in a research note on Friday, February 7th. Morgan Stanley raised Cytokinetics from an "equal weight" rating to an "overweight" rating and reduced their price target for the stock from $70.00 to $67.00 in a research note on Thursday, February 13th. Mizuho increased their target price on Cytokinetics from $99.00 to $103.00 and gave the stock an "outperform" rating in a research report on Thursday, November 21st. Finally, Stifel Nicolaus assumed coverage on Cytokinetics in a research report on Wednesday, January 22nd. They issued a "buy" rating and a $80.00 target price on the stock. Two research 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, the company has an average rating of "Moderate Buy" and an average price target of $82.00.

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.