Shares of Cytokinetics, Incorporated (NASDAQ:CYTK – Get Free Report) gapped up before the market opened on Wednesday after HC Wainwright raised their price target on the stock from $90.00 to $120.00. The stock had previously closed at $54.33, but opened at $55.42. HC Wainwright currently has a buy rating on the stock. Cytokinetics shares last traded at $55.51, with a volume of 137,393 shares trading hands.
CYTK has been the topic of a number of other reports. JPMorgan Chase & Co. lifted their price target on Cytokinetics from $65.00 to $71.00 and gave the company an “overweight” rating in a research note on Thursday, September 5th. JMP Securities reissued a “market outperform” rating and set a $78.00 price target on shares of Cytokinetics in a research note on Wednesday, September 4th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Cytokinetics in a research note on Monday, September 9th. The Goldman Sachs Group lowered Cytokinetics from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $85.00 to $60.00 in a research note on Tuesday, August 13th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $72.00 price objective on shares of Cytokinetics in a research note on Tuesday, September 3rd. One analyst has rated the stock with a sell rating, four have given a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, Cytokinetics presently has an average rating of “Moderate Buy” and a consensus target price of $83.93.
Check Out Our Latest Stock Report on CYTK
Insider Transactions at Cytokinetics
Institutional Inflows and Outflows
A number of institutional investors have recently bought and sold shares of the business. UMB Bank n.a. grew its stake in Cytokinetics by 65.6% in 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. Verde Servicos Internacionais S.A. bought a new position in Cytokinetics in the 3rd quarter valued at $1,914,000. Handelsbanken Fonder AB grew its stake in Cytokinetics by 25.1% in the 3rd quarter. Handelsbanken Fonder AB now owns 29,400 shares of the biopharmaceutical company’s stock valued at $1,552,000 after purchasing an additional 5,900 shares during the period. Mirador Capital Partners LP grew its stake in Cytokinetics by 2.3% in the 3rd quarter. Mirador Capital Partners LP now owns 64,626 shares of the biopharmaceutical company’s stock valued at $3,412,000 after purchasing an additional 1,483 shares during the period. Finally, Ghisallo Capital Management LLC bought a new position in Cytokinetics in the 2nd quarter valued at $10,619,000.
Cytokinetics Price Performance
The stock has a market cap of $5.70 billion, a P/E ratio of -10.07 and a beta of 0.77. The company has a debt-to-equity ratio of 5.93, a quick ratio of 10.39 and a current ratio of 10.39. The business has a 50 day simple moving average of $55.13 and a 200-day simple moving average of $58.15.
Cytokinetics (NASDAQ:CYTK – Get Free Report) last posted its quarterly earnings results on Thursday, August 8th. The biopharmaceutical company reported ($1.31) earnings per share for the quarter, missing the consensus estimate of ($1.06) by ($0.25). The firm had revenue of $0.25 million during the quarter, compared to the consensus estimate of $7.61 million. The business’s revenue for the quarter was down 71.3% compared to the same quarter last year. During the same period last year, the firm earned ($1.34) EPS. On average, sell-side analysts forecast that Cytokinetics, Incorporated will post -5.15 EPS for the current year.
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.
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