Cytokinetics Inc. (CYTK) Trading 3% Higher
Shares of Cytokinetics Inc. (NASDAQ:CYTK) traded up 3% on Monday . The company traded as high as $12.33 and last traded at $12.12, with a volume of 140,885 shares. The stock had previously closed at $11.77.
A number of analysts have recently weighed in on the stock. Roth Capital reiterated a “buy” rating and set a $22.00 target price on shares of Cytokinetics in a report on Thursday. JMP Securities reissued a “buy” rating and issued a $17.00 price target on shares of Cytokinetics in a research note on Tuesday, August 2nd. Needham & Company LLC increased their price target on shares of Cytokinetics from $15.00 to $17.00 and gave the stock a “buy” rating in a research note on Wednesday, July 27th. FBR & Co reissued an “outperform” rating and issued a $24.00 price target on shares of Cytokinetics in a research note on Wednesday, July 13th. Finally, Piper Jaffray Cos. reissued an “overweight” rating and issued a $24.00 price target on shares of Cytokinetics in a research note on Tuesday, July 12th. Eight research analysts have rated the stock with a buy rating, Cytokinetics currently has an average rating of “Buy” and an average target price of $18.13.
The firm’s market capitalization is $482.79 million. The firm’s 50-day moving average price is $10.83 and its 200 day moving average price is $8.40.
Cytokinetics (NASDAQ:CYTK) last posted its earnings results on Thursday, July 28th. The biopharmaceutical company reported ($0.29) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.28) by $0.02. On average, analysts expect that Cytokinetics Inc. will post ($1.30) EPS for the current fiscal year.
A hedge fund recently bought a new stake in Cytokinetics stock. Matarin Capital Management LLC purchased a new position in Cytokinetics Inc. (NASDAQ:CYTK) during the fourth quarter, according to its most recent filing with the SEC. The fund purchased 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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