Cytokinetics (NASDAQ:CYTK) Given New $103.00 Price Target at Mizuho

Cytokinetics (NASDAQ:CYTK - Free Report) had its price objective boosted by Mizuho from $99.00 to $103.00 in a report published on Thursday morning,Benzinga reports. The firm currently has an outperform rating on the biopharmaceutical company's stock.

A number of other research firms also recently commented on CYTK. JMP Securities reiterated a "market outperform" rating and issued a $78.00 price objective on shares of Cytokinetics in a report on Wednesday, September 4th. Royal Bank of Canada began coverage on shares of Cytokinetics in a report on Friday, November 8th. They set an "outperform" rating and a $80.00 price objective on the stock. HC Wainwright restated a "buy" rating and issued a $120.00 target price on shares of Cytokinetics in a report on Monday. Cantor Fitzgerald reissued an "overweight" rating on shares of Cytokinetics in a research report on Friday, October 18th. Finally, The Goldman Sachs Group lowered Cytokinetics from a "buy" rating to a "neutral" rating and dropped their price objective for the stock from $85.00 to $60.00 in a report on Tuesday, August 13th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat, Cytokinetics has a consensus rating of "Moderate Buy" and a consensus target price of $83.93.

Cytokinetics Trading Down 4.4 %

Shares of NASDAQ CYTK traded down $2.19 during mid-day trading on Thursday, reaching $47.67. 1,822,619 shares of the company's stock were exchanged, compared to its average volume of 2,056,119. The company's 50-day moving average is $53.86 and its 200-day moving average is $54.97. The company has a debt-to-equity ratio of 5.93, a quick ratio of 9.28 and a current ratio of 9.28. The firm has a market capitalization of $5.63 billion, a price-to-earnings ratio of -9.27 and a beta of 0.78. Cytokinetics has a 52-week low of $30.68 and a 52-week high of $110.25.

Cytokinetics (NASDAQ:CYTK - Get Free Report) last posted its quarterly earnings data on Wednesday, November 6th. The biopharmaceutical company reported ($1.36) earnings per share (EPS) 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. The company's revenue for the quarter was up 22.5% on a year-over-year basis. During the same quarter in the previous year, the company earned ($1.35) EPS. Analysts expect that Cytokinetics will post -5.31 EPS for the current fiscal year.

Insider Activity

In other Cytokinetics news, CEO Robert I. Blum sold 5,000 shares of the company's stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $57.03, for a total value of $285,150.00. Following the completion of the transaction, the chief executive officer now owns 397,456 shares in the company, valued at approximately $22,666,915.68. This represents a 1.24 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Fady Ibraham Malik sold 6,342 shares of Cytokinetics 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 sale, the executive vice president now directly owns 113,878 shares in the company, valued at $6,659,585.44. The trade was a 5.28 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 65,078 shares of company stock worth $3,514,119. 3.40% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Cytokinetics

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Darwin Global Management Ltd. acquired a new position in shares of Cytokinetics during the second quarter valued at approximately $246,074,000. Geode Capital Management LLC lifted its holdings in shares of Cytokinetics by 4.0% in the third quarter. Geode Capital Management LLC now owns 2,848,584 shares of the biopharmaceutical company's stock valued at $150,433,000 after buying an additional 109,938 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in Cytokinetics by 42.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,321,391 shares of the biopharmaceutical company's stock valued at $69,769,000 after buying an additional 395,709 shares in the last quarter. Westfield Capital Management Co. LP raised its position in Cytokinetics by 38.9% in the third quarter. Westfield Capital Management Co. LP now owns 1,212,886 shares of the biopharmaceutical company's stock worth $64,040,000 after acquiring an additional 339,373 shares in the last quarter. Finally, Janus Henderson Group PLC lifted its holdings in Cytokinetics by 17.2% in the 3rd quarter. Janus Henderson Group PLC now owns 1,143,830 shares of the biopharmaceutical company's stock valued at $60,399,000 after acquiring an additional 167,501 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.