Cytokinetics (NASDAQ:CYTK) Receives Buy Rating from HC Wainwright

HC Wainwright reiterated their buy rating on shares of Cytokinetics (NASDAQ:CYTK - Free Report) in a report issued on Friday,Benzinga reports. HC Wainwright currently has a $120.00 price objective on the biopharmaceutical company's stock.

A number of other brokerages have also commented on CYTK. JPMorgan Chase & Co. raised their price target on Cytokinetics from $65.00 to $71.00 and gave the stock an "overweight" rating in a research note on Thursday, September 5th. Mizuho boosted their target price on shares of Cytokinetics from $99.00 to $103.00 and gave the company an "outperform" rating in a report on Thursday, November 21st. JMP Securities reissued a "market outperform" rating and set a $78.00 price objective on shares of Cytokinetics in a research note on Wednesday, September 4th. Needham & Company LLC reiterated a "buy" rating and set a $72.00 target price on shares of Cytokinetics in a report on Monday, December 2nd. Finally, Royal Bank of Canada raised their price objective on Cytokinetics from $80.00 to $82.00 and gave the company an "outperform" rating in a research report on Wednesday. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat.com, Cytokinetics presently has an average rating of "Moderate Buy" and a consensus target price of $84.07.

Cytokinetics Stock Up 4.6 %

CYTK traded up $2.13 during trading on Friday, hitting $48.87. 3,805,196 shares of the company's stock were exchanged, compared to its average volume of 1,988,956. The stock has a market cap of $5.77 billion, a P/E ratio of -9.08 and a beta of 0.80. The business's 50 day moving average is $52.09 and its two-hundred day moving average is $53.98. Cytokinetics has a fifty-two week low of $36.24 and a fifty-two week high of $110.25. 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 released its quarterly earnings results on Wednesday, November 6th. The biopharmaceutical company reported ($1.36) EPS for the quarter, missing analysts' consensus estimates of ($1.27) by ($0.09). The company had revenue of $0.46 million during the quarter, compared to analyst estimates of $1.21 million. During the same period in the prior year, the firm earned ($1.35) earnings per share. The company's revenue was up 22.5% compared to the same quarter last year. As a group, equities analysts expect that Cytokinetics will post -5.25 earnings per share for the current fiscal year.

Insider Buying and Selling at Cytokinetics

In related news, CEO Robert I. Blum sold 5,000 shares of the stock in a transaction that occurred on Monday, September 30th. The shares were sold at an average price of $52.14, for a total value of $260,700.00. Following the completion of the sale, the chief executive officer now directly owns 397,456 shares of the company's stock, valued at approximately $20,723,355.84. This represents a 1.24 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Wendall Wierenga sold 4,452 shares of the firm's stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $52.25, for a total transaction of $232,617.00. Following the sale, the director now owns 24,559 shares in the company, valued at approximately $1,283,207.75. The trade was a 15.35 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 74,816 shares of company stock worth $3,923,463 in the last three months. 3.40% of the stock is currently owned by company insiders.

Institutional Trading of Cytokinetics

A number of hedge funds and other institutional investors have recently modified their holdings of CYTK. Louisiana State Employees Retirement System increased its stake in Cytokinetics by 0.6% in the 3rd quarter. Louisiana State Employees Retirement System now owns 32,600 shares of the biopharmaceutical company's stock worth $1,721,000 after buying an additional 200 shares in the last quarter. UMB Bank n.a. raised its stake in Cytokinetics by 65.6% during the 3rd quarter. UMB Bank n.a. now owns 601 shares of the biopharmaceutical company's stock valued at $32,000 after purchasing an additional 238 shares during the period. Nisa Investment Advisors LLC lifted its holdings in Cytokinetics by 2.9% in the 3rd quarter. Nisa Investment Advisors LLC now owns 15,062 shares of the biopharmaceutical company's stock worth $795,000 after purchasing an additional 430 shares in the last quarter. MetLife Investment Management LLC lifted its stake in Cytokinetics by 0.4% in the 3rd quarter. MetLife Investment Management LLC now owns 123,308 shares of the biopharmaceutical company's stock worth $6,511,000 after purchasing an additional 538 shares in the last quarter. Finally, Blue Trust Inc. boosted its holdings in shares of Cytokinetics by 225.9% during the 3rd quarter. Blue Trust Inc. now owns 981 shares of the biopharmaceutical company's stock valued at $53,000 after purchasing an additional 680 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.