HC Wainwright Reiterates Buy Rating for Cytokinetics (NASDAQ:CYTK)

HC Wainwright reiterated their buy rating on shares of Cytokinetics (NASDAQ:CYTK - Free Report) in a research report report published on Friday morning,Benzinga reports. They currently have a $120.00 target price on the biopharmaceutical company's stock. HC Wainwright also issued estimates for Cytokinetics' Q1 2025 earnings at ($1.42) EPS, Q2 2025 earnings at ($1.44) EPS, Q3 2025 earnings at ($1.44) EPS, Q4 2025 earnings at ($1.53) EPS and FY2025 earnings at ($5.83) EPS.

CYTK has been the topic of several other reports. JMP Securities reaffirmed a "market outperform" rating and set a $78.00 price objective on shares of Cytokinetics in a report on Friday, February 7th. Citigroup started coverage on shares of Cytokinetics in a research report on Friday, February 7th. They issued a "buy" rating and a $86.00 price target on the stock. Needham & Company LLC reaffirmed a "buy" rating and issued a $72.00 price objective on shares of Cytokinetics in a report on Thursday, February 6th. Morgan Stanley upgraded shares of Cytokinetics from an "equal weight" rating to an "overweight" rating and reduced their price objective for the company from $70.00 to $67.00 in a research note on Thursday, February 13th. Finally, Royal Bank of Canada increased their target price on Cytokinetics from $80.00 to $82.00 and gave the stock an "outperform" rating in a research report on Wednesday, December 18th. Two equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Cytokinetics has an average rating of "Moderate Buy" and a consensus target price of $82.00.

Cytokinetics Stock Performance

Shares of NASDAQ:CYTK traded up $0.80 during mid-day trading on Friday, reaching $43.69. The company had a trading volume of 1,722,278 shares, compared to its average volume of 1,589,635. The company's 50-day moving average price is $47.10 and its 200-day moving average price is $51.12. Cytokinetics has a one year low of $40.53 and a one year high of $75.71. The firm has a market cap of $5.16 billion, a price-to-earnings ratio of -8.12 and a beta of 0.83. 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 (NASDAQ:CYTK - Get Free Report) last issued its earnings results on Thursday, February 27th. The biopharmaceutical company reported ($1.26) earnings per share (EPS) for the quarter, beating 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, equities research analysts anticipate that Cytokinetics will post -5.24 EPS for the current fiscal year.

Insider Buying and Selling at Cytokinetics

In other Cytokinetics news, Director John T. Henderson sold 1,780 shares of the business's stock in a transaction that occurred on Wednesday, December 11th. The shares were sold at an average price of $50.42, for a total value of $89,747.60. Following the completion of the transaction, the director now owns 38,461 shares of the company's stock, valued at $1,939,203.62. The trade was a 4.42 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Wendall Wierenga sold 742 shares of the company's stock in a transaction on Monday, December 16th. The stock was sold at an average price of $48.61, for a total transaction of $36,068.62. Following the completion of the transaction, the director now owns 24,559 shares of the company's stock, valued at $1,193,812.99. This trade represents a 2.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 17,822 shares of company stock valued at $874,048 in the last 90 days. Corporate insiders own 3.40% of the company's stock.

Institutional Investors Weigh In On Cytokinetics

Several hedge funds have recently added to or reduced their stakes in the company. Jones Financial Companies Lllp lifted its position in Cytokinetics by 189.8% in the 4th quarter. Jones Financial Companies Lllp now owns 571 shares of the biopharmaceutical company's stock worth $27,000 after buying an additional 374 shares during the last quarter. Centricity Wealth Management LLC purchased a new position in shares of Cytokinetics during the fourth quarter worth approximately $29,000. Blue Trust Inc. lifted its holdings in shares of Cytokinetics by 225.9% in the 3rd quarter. Blue Trust Inc. now owns 981 shares of the biopharmaceutical company's stock worth $53,000 after acquiring an additional 680 shares during the last quarter. AlphaQuest LLC boosted its stake in shares of Cytokinetics by 113,500.0% in the 4th quarter. AlphaQuest LLC now owns 1,136 shares of the biopharmaceutical company's stock valued at $53,000 after purchasing an additional 1,135 shares in the last quarter. Finally, J.Safra Asset Management Corp boosted its stake in shares of Cytokinetics by 62.1% in the 4th quarter. J.Safra Asset Management Corp now owns 1,751 shares of the biopharmaceutical company's stock valued at $83,000 after purchasing an additional 671 shares in 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.