HC Wainwright Reiterates Buy Rating for Cytokinetics (NASDAQ:CYTK)

HC Wainwright reaffirmed their buy rating on shares of Cytokinetics (NASDAQ:CYTK) in a report released on Friday,Benzinga reports.

CYTK has been the topic of a number of other reports. Needham & Company LLC restated a “buy” rating and set a $72.00 target price on shares of Cytokinetics in a report on Monday, December 2nd. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Cytokinetics in a report on Friday, October 18th. Mizuho raised their target price on shares of Cytokinetics from $99.00 to $103.00 and gave the company an “outperform” rating in a research note on Thursday, November 21st. Finally, Royal Bank of Canada upped their price objective on Cytokinetics from $80.00 to $82.00 and gave the company an “outperform” rating in a research note on Wednesday, December 18th. Three analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $83.64.

Cytokinetics Stock Down 1.6 %

Shares of CYTK stock opened at $46.62 on Friday. The firm’s fifty day moving average price is $50.42 and its two-hundred day moving average price is $53.49. The company has a current ratio of 9.28, a quick ratio of 9.28 and a debt-to-equity ratio of 5.93. Cytokinetics has a 1 year low of $45.17 and a 1 year high of $100.49. The firm has a market capitalization of $5.50 billion, a P/E ratio of -8.67 and a beta of 0.82.

Cytokinetics (NASDAQ:CYTK) last released its earnings results on Wednesday, November 6th. The biopharmaceutical company reported ($1.36) earnings per share (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 quarter in the prior year, the company posted ($1.35) earnings per share. The business’s revenue was up 22.5% compared to the same quarter last year. On average, equities analysts predict 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 company’s 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 of the company’s stock, valued at $1,283,207.75. This represents a 15.35 % decrease in their ownership of the stock. The transaction 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 firm’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 directly owns 116,920 shares in the company, valued at approximately $6,335,894.80. This represents a 5.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 59,516 shares of company stock valued at $3,103,023. 3.40% of the stock is owned by company insiders.

Institutional Trading of Cytokinetics

Large investors have recently made changes to their positions in the company. UMB Bank n.a. lifted its stake in Cytokinetics by 65.6% during the third quarter. UMB Bank n.a. now owns 601 shares of the biopharmaceutical company’s stock worth $32,000 after purchasing an additional 238 shares during the last quarter. Blue Trust Inc. raised 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 worth $53,000 after buying an additional 680 shares in the last quarter. Values First Advisors Inc. bought a new stake in shares of Cytokinetics during the 3rd quarter worth $54,000. Quarry LP boosted its stake in Cytokinetics by 233.3% in the second quarter. Quarry LP now owns 2,000 shares of the biopharmaceutical company’s stock valued at $108,000 after buying an additional 1,400 shares in the last quarter. Finally, Avior Wealth Management LLC grew its position in Cytokinetics by 57.1% in the third quarter. Avior Wealth Management LLC now owns 3,999 shares of the biopharmaceutical company’s stock valued at $211,000 after acquiring an additional 1,454 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.