FY2024 Earnings Forecast for Cytokinetics Issued By B. Riley

Cytokinetics, Incorporated (NASDAQ:CYTK - Free Report) - Investment analysts at B. Riley increased their FY2024 earnings per share estimates for Cytokinetics in a report released on Wednesday, February 5th. B. Riley analyst M. Mamtani now expects that the biopharmaceutical company will earn ($5.30) per share for the year, up from their previous estimate of ($5.60). The consensus estimate for Cytokinetics' current full-year earnings is ($5.23) per share. B. Riley also issued estimates for Cytokinetics' Q4 2024 earnings at ($1.30) EPS, FY2025 earnings at ($5.30) EPS, FY2026 earnings at ($5.20) EPS, FY2027 earnings at ($4.20) EPS, FY2028 earnings at ($2.20) EPS and FY2029 earnings at $1.10 EPS.

A number of other analysts have also recently commented on the stock. Mizuho upped 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. Stifel Nicolaus assumed coverage on Cytokinetics in a research note on Wednesday, January 22nd. They set a "buy" rating and a $80.00 target price for the company. Cantor Fitzgerald reissued an "overweight" rating on shares of Cytokinetics in a research note on Friday, October 18th. 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 report on Wednesday, December 18th. Finally, JMP Securities reiterated a "market outperform" rating and set a $78.00 target price on shares of Cytokinetics in a research report on Friday. Two investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $83.00.

Cytokinetics Trading Down 1.0 %

Shares of NASDAQ:CYTK traded down $0.45 during trading on Friday, reaching $42.31. The stock had a trading volume of 1,766,299 shares, compared to its average volume of 1,379,998. Cytokinetics has a 52 week low of $41.71 and a 52 week high of $81.36. The firm's fifty day moving average is $48.32 and its 200 day moving average is $52.34. The stock has a market cap of $4.99 billion, a price-to-earnings ratio of -7.85 and a beta of 0.83. The company has a debt-to-equity ratio of 5.93, a quick ratio of 9.28 and a current ratio of 9.28.

Insider Activity

In related news, Director John T. Henderson sold 1,780 shares of the company's stock in a transaction that occurred on Wednesday, December 11th. The stock was sold at an average price of $50.42, for a total value of $89,747.60. Following the transaction, the director now owns 38,461 shares in the company, valued at approximately $1,939,203.62. This represents a 4.42 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Fady Ibraham Malik sold 6,342 shares of the stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $58.48, for a total value of $370,880.16. Following the transaction, the executive vice president now directly owns 113,878 shares of the company's stock, valued at approximately $6,659,585.44. This trade represents a 5.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 39,464 shares of company stock valued at $2,025,686 over the last three months. Corporate insiders own 3.40% of the company's stock.

Institutional Investors Weigh In On Cytokinetics

Hedge funds and other institutional investors have recently bought and sold shares of the business. Skandinaviska Enskilda Banken AB publ boosted its position in shares of Cytokinetics by 16.9% in the fourth quarter. Skandinaviska Enskilda Banken AB publ now owns 182,126 shares of the biopharmaceutical company's stock valued at $8,585,000 after acquiring an additional 26,332 shares during the period. Swiss National Bank raised its position in shares of Cytokinetics by 2.0% in the fourth quarter. Swiss National Bank now owns 219,800 shares of the biopharmaceutical company's stock worth $10,339,000 after buying an additional 4,300 shares in the last quarter. Great Lakes Advisors LLC bought a new stake in Cytokinetics during the fourth quarter valued at $1,580,000. Zurcher Kantonalbank Zurich Cantonalbank grew its position in Cytokinetics by 7.1% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 28,258 shares of the biopharmaceutical company's stock worth $1,329,000 after buying an additional 1,882 shares in the last quarter. Finally, AlphaQuest LLC increased its stake in Cytokinetics by 113,500.0% in the 4th quarter. AlphaQuest LLC now owns 1,136 shares of the biopharmaceutical company's stock worth $53,000 after acquiring an additional 1,135 shares during the last quarter.

Cytokinetics Company Profile

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.