Brokerages Set Cytokinetics, Incorporated (NASDAQ:CYTK) PT at $84.07

Cytokinetics, Incorporated (NASDAQ:CYTK) has been given a consensus recommendation of “Moderate Buy” by the fifteen analysts that are covering the company, Marketbeat.com reports. Three investment analysts have rated the stock with a hold recommendation and twelve have given a buy recommendation to the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $83.64.

A number of equities analysts have issued reports on CYTK shares. Needham & Company LLC reaffirmed a “buy” rating and set a $72.00 price target on shares of Cytokinetics in a research note on Monday, December 2nd. Royal Bank of Canada upped their price target on shares of Cytokinetics from $80.00 to $82.00 and gave the company an “outperform” rating in a research report on Wednesday, December 18th. Cantor Fitzgerald reissued an “overweight” rating on shares of Cytokinetics in a research note on Friday, October 18th. HC Wainwright reiterated a “buy” rating and set a $120.00 price target on shares of Cytokinetics in a report on Friday, December 20th. Finally, Mizuho raised their price objective on Cytokinetics from $99.00 to $103.00 and gave the stock an “outperform” rating in a research report on Thursday, November 21st.

Cytokinetics Price Performance

CYTK opened at $49.36 on Thursday. 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 company has a 50-day moving average of $50.80 and a 200-day moving average of $53.65. Cytokinetics has a 1-year low of $45.66 and a 1-year high of $110.25. The company has a market capitalization of $5.83 billion, a P/E ratio of -9.17 and a beta of 0.80.

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 the consensus estimate of ($1.27) by ($0.09). The company had revenue of $0.46 million for 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 firm’s revenue for the quarter was up 22.5% on a year-over-year basis. Equities analysts expect that Cytokinetics will post -5.25 EPS for the current fiscal year.

Insider Activity

In related news, Director Wendall Wierenga sold 4,452 shares of the stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $52.25, for a total transaction of $232,617.00. Following the completion of the sale, the director now owns 24,559 shares in the company, valued at $1,283,207.75. This trade represents a 15.35 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Fady Ibraham Malik sold 7,300 shares of the business’s stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $54.19, for a total transaction of $395,587.00. Following the completion of the transaction, the executive vice president now owns 116,920 shares in the company, valued at approximately $6,335,894.80. This trade represents a 5.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 62,516 shares of company stock worth $3,282,433. Company insiders own 3.40% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Exome Asset Management LLC bought a new stake in shares of Cytokinetics during the third quarter worth $3,093,000. Retirement Systems of Alabama boosted its position in Cytokinetics by 1.0% in the 3rd quarter. Retirement Systems of Alabama now owns 142,930 shares of the biopharmaceutical company’s stock valued at $7,547,000 after buying an additional 1,414 shares during the last quarter. Teachers Retirement System of The State of Kentucky increased its stake in shares of Cytokinetics by 12.5% in the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 56,885 shares of the biopharmaceutical company’s stock valued at $3,003,000 after buying an additional 6,300 shares during the period. Geode Capital Management LLC lifted its position in Cytokinetics by 4.0% during the 3rd quarter. Geode Capital Management LLC now owns 2,848,584 shares of the biopharmaceutical company’s stock valued at $150,433,000 after purchasing an additional 109,938 shares during the period. Finally, XTX Topco Ltd acquired a new stake in shares of Cytokinetics during the 3rd quarter worth approximately $521,000.

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.