Cytokinetics Inc. (CYTK) Shares Up 1.4%
Cytokinetics Inc. (NASDAQ:CYTK)’s share price shot up 1.4% during mid-day trading on Tuesday . The stock traded as high as $11.85 and last traded at $11.65, with a volume of 207,520 shares changing hands. The stock had previously closed at $11.49.
A number of equities research analysts have weighed in on the company. FBR & Co reaffirmed a “buy” rating on shares of Cytokinetics in a report on Monday, May 2nd. Zacks Investment Research raised Cytokinetics from a “hold” rating to a “buy” rating and set a $11.00 price objective on the stock in a report on Wednesday, June 29th. JMP Securities reaffirmed a “buy” rating and issued a $17.00 price objective on shares of Cytokinetics in a report on Tuesday. Piper Jaffray Cos. reaffirmed an “overweight” rating and issued a $24.00 price objective on shares of Cytokinetics in a report on Tuesday, July 12th. Finally, Needham & Company LLC lifted their price objective on Cytokinetics from $15.00 to $17.00 and gave the company a “buy” rating in a report on Wednesday, July 27th. Eight analysts have rated the stock with a buy rating, The company presently has an average rating of “Buy” and a consensus price target of $18.13.
The stock’s market cap is $478.77 million. The company has a 50 day moving average of $9.83 and a 200 day moving average of $8.05.
Cytokinetics (NASDAQ:CYTK) last issued its earnings results on Thursday, July 28th. The biopharmaceutical company reported ($0.29) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.28) by $0.02. On average, equities research analysts expect that Cytokinetics Inc. will post ($1.30) earnings per share for the current fiscal year.
An institutional investor recently bought a new position in Cytokinetics stock. Matarin Capital Management LLC bought a new position in shares of Cytokinetics Inc. (NASDAQ:CYTK) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 240,163 shares of the biopharmaceutical company’s stock, valued at approximately $2,512,000. Matarin Capital Management LLC owned about 0.62% of Cytokinetics as of its most recent SEC filing.
Cytokinetics, Incorporated is a biopharmaceutical company. The Company is focused on the discovery and development of small molecule therapeutics that modulate muscle function for the treatment of serious diseases and medical conditions. Its drug candidates include tirasemtiv, CK-2127107 and omecamtiv mecarbil.
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