Cytokinetics (NASDAQ:CYTK) Price Target Raised to $103.00 at Mizuho

Cytokinetics (NASDAQ:CYTK) had its target price boosted by Mizuho from $99.00 to $103.00 in a research note published on Thursday morning,Benzinga reports. They currently have an outperform rating on the biopharmaceutical company’s stock.

Several other analysts also recently issued reports on CYTK. The Goldman Sachs Group downgraded Cytokinetics from a “buy” rating to a “neutral” rating and decreased their target price for the company from $85.00 to $60.00 in a research note on Tuesday, August 13th. Needham & Company LLC reissued a “buy” rating and set a $72.00 target price on shares of Cytokinetics in a research note on Wednesday. HC Wainwright reissued a “buy” rating and set a $120.00 target price on shares of Cytokinetics in a research note on Monday, November 18th. Cantor Fitzgerald reissued an “overweight” rating on shares of Cytokinetics in a research note on Friday, October 18th. Finally, JPMorgan Chase & Co. lifted their target price on Cytokinetics from $65.00 to $71.00 and gave the company an “overweight” rating in a research note on Thursday, September 5th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and twelve have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $83.93.

Cytokinetics Stock Up 3.0 %

CYTK stock opened at $49.10 on Thursday. Cytokinetics has a twelve month low of $30.68 and a twelve month 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. The stock has a market cap of $5.79 billion, a P/E ratio of -9.13 and a beta of 0.78. The business’s 50-day moving average price is $53.60 and its 200-day moving average price is $54.74.

Cytokinetics (NASDAQ:CYTK) last posted its quarterly earnings data on Wednesday, November 6th. The biopharmaceutical company reported ($1.36) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.27) by ($0.09). The firm had revenue of $0.46 million during the quarter, compared to analysts’ expectations of $1.21 million. During the same quarter in the prior year, the firm posted ($1.35) earnings per share. The firm’s quarterly revenue was up 22.5% on a year-over-year basis. On average, equities research analysts forecast that Cytokinetics will post -5.25 EPS for the current year.

Insiders Place Their Bets

In other news, CEO Robert I. Blum sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $50.55, for a total transaction of $252,750.00. Following the transaction, the chief executive officer now owns 397,456 shares of the company’s stock, valued at approximately $20,091,400.80. The trade was a 1.24 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Fady Ibraham Malik sold 7,384 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $57.01, for a total value of $420,961.84. Following the transaction, the executive vice president now directly owns 122,920 shares in the company, valued at approximately $7,007,669.20. This represents a 5.67 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 65,078 shares of company stock valued at $3,514,119 in the last quarter. 3.40% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Cytokinetics

Several large investors have recently modified their holdings of CYTK. Darwin Global Management Ltd. bought a new position in shares of Cytokinetics during the 2nd quarter valued at approximately $246,074,000. Integral Health Asset Management LLC boosted its holdings in Cytokinetics by 122.2% during the 2nd quarter. Integral Health Asset Management LLC now owns 1,000,000 shares of the biopharmaceutical company’s stock valued at $54,180,000 after acquiring an additional 550,000 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in Cytokinetics by 42.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,321,391 shares of the biopharmaceutical company’s stock valued at $69,769,000 after acquiring an additional 395,709 shares during the period. Westfield Capital Management Co. LP boosted its holdings in Cytokinetics by 38.9% during the 3rd quarter. Westfield Capital Management Co. LP now owns 1,212,886 shares of the biopharmaceutical company’s stock valued at $64,040,000 after acquiring an additional 339,373 shares during the period. Finally, Sarissa Capital Management LP purchased a new position in Cytokinetics during the 1st quarter valued at $21,033,000.

About Cytokinetics

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.