Cytokinetics (NASDAQ:CYTK) Issues Earnings Results

Cytokinetics (NASDAQ:CYTK) posted its quarterly earnings data on Thursday. The biopharmaceutical company reported ($1.26) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.29) by $0.03, Zacks reports.

Cytokinetics Price Performance

NASDAQ:CYTK traded up $0.59 during trading hours on Thursday, reaching $47.45. The stock had a trading volume of 1,201,447 shares, compared to its average volume of 1,587,984. The company has a debt-to-equity ratio of 5.93, a quick ratio of 9.28 and a current ratio of 9.28. Cytokinetics has a 52 week low of $40.53 and a 52 week high of $75.71. The company has a 50 day moving average price of $47.28 and a two-hundred day moving average price of $51.36. The stock has a market capitalization of $5.60 billion, a PE ratio of -8.82 and a beta of 0.83.

Analyst Upgrades and Downgrades

CYTK has been the topic of several recent analyst reports. Morgan Stanley raised Cytokinetics from an “equal weight” rating to an “overweight” rating and dropped their price objective for the company from $70.00 to $67.00 in a research report on Thursday, February 13th. Royal Bank of Canada raised their target price on Cytokinetics from $80.00 to $82.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 18th. Mizuho raised their target price on Cytokinetics from $99.00 to $103.00 and gave the stock an “outperform” rating in a research report on Thursday, November 21st. HC Wainwright reaffirmed a “buy” rating and set a $120.00 price objective on shares of Cytokinetics in a research report on Tuesday, January 21st. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $72.00 price objective on shares of Cytokinetics in a research report on Thursday, February 6th. Two analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $82.00.

Insiders Place Their Bets

In other news, Director Wendall Wierenga sold 742 shares of Cytokinetics stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $48.61, for a total value of $36,068.62. Following the completion of the transaction, the director now owns 24,559 shares in the company, valued at approximately $1,193,812.99. The trade was a 2.93 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Fady Ibraham Malik sold 7,300 shares of the business’s stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $50.64, for a total value of $369,672.00. Following the transaction, the executive vice president now owns 116,071 shares of the company’s stock, valued at approximately $5,877,835.44. The trade was a 5.92 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 22,822 shares of company stock valued at $1,127,848 in the last quarter. 3.40% of the stock is currently owned by insiders.

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.