Cowen and Company reaffirmed their buy rating on shares of Cytokinetics, Incorporated (NASDAQ:CYTK) in a report published on Friday morning. They currently have a $19.00 price objective on the biopharmaceutical company’s stock.

“CYTK reported a Q2 loss of $29.1MM and ended the quarter with $332MM in cash.”,” the firm’s analyst commented.

CYTK has been the subject of several other reports. HC Wainwright reaffirmed a buy rating and issued a $25.00 price objective on shares of Cytokinetics, in a research note on Tuesday, April 25th. BidaskClub raised Cytokinetics, from a hold rating to a buy rating in a research note on Tuesday, July 25th. Morgan Stanley assumed coverage on Cytokinetics, in a research note on Monday, July 31st. They issued an overweight rating and a $24.00 price objective for the company. Zacks Investment Research lowered Cytokinetics, from a buy rating to a sell rating in a research note on Monday, July 17th. Finally, Cantor Fitzgerald reaffirmed an overweight rating on shares of Cytokinetics, in a research note on Friday, May 19th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. The company presently has a consensus rating of Buy and a consensus price target of $21.20.

Shares of Cytokinetics, (NASDAQ CYTK) traded down 3.61% during trading on Friday, reaching $12.70. The company’s stock had a trading volume of 675,196 shares. The company has a 50 day moving average of $13.67 and a 200-day moving average of $12.95. The stock’s market cap is $612.36 million. Cytokinetics, has a 12-month low of $8.51 and a 12-month high of $17.20.

Cytokinetics, (NASDAQ:CYTK) last posted its quarterly earnings data on Wednesday, August 2nd. The biopharmaceutical company reported ($0.60) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.57) by $0.03. The company had revenue of $3.05 million during the quarter, compared to the consensus estimate of $5.28 million. Cytokinetics, had a negative net margin of 16.00% and a negative return on equity of 14.15%. Analysts forecast that Cytokinetics, will post ($2.02) EPS for the current year.

WARNING: This story was posted by Daily Political and is the sole property of of Daily Political. If you are viewing this story on another domain, it was stolen and reposted in violation of United States and international trademark and copyright laws. The original version of this story can be accessed at https://www.dailypolitical.com/2017/08/07/cytokineticss-nasdaqcytk-buy-rating-reiterated-at-cowen-and-company.html.

In other Cytokinetics, news, CEO Robert I. Blum sold 5,000 shares of the firm’s stock in a transaction on Monday, July 3rd. The stock was sold at an average price of $12.14, for a total transaction of $60,700.00. Following the transaction, the chief executive officer now directly owns 88,385 shares in the company, valued at approximately $1,072,993.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders have sold a total of 15,000 shares of company stock worth $197,750 over the last 90 days. 7.20% of the stock is currently owned by company insiders.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. FMR LLC increased its position in Cytokinetics, by 8.8% in the first quarter. FMR LLC now owns 5,655,916 shares of the biopharmaceutical company’s stock valued at $72,679,000 after buying an additional 456,502 shares during the last quarter. Acadian Asset Management LLC increased its position in Cytokinetics, by 128.9% in the second quarter. Acadian Asset Management LLC now owns 766,263 shares of the biopharmaceutical company’s stock valued at $9,271,000 after buying an additional 431,457 shares during the last quarter. Bank of New York Mellon Corp increased its position in Cytokinetics, by 252.0% in the second quarter. Bank of New York Mellon Corp now owns 526,790 shares of the biopharmaceutical company’s stock valued at $6,374,000 after buying an additional 377,145 shares during the last quarter. Vanguard Group Inc. increased its position in Cytokinetics, by 15.9% in the first quarter. Vanguard Group Inc. now owns 1,949,345 shares of the biopharmaceutical company’s stock valued at $25,049,000 after buying an additional 267,437 shares during the last quarter. Finally, Bogle Investment Management L P DE purchased a new position in Cytokinetics, during the first quarter valued at approximately $2,682,000. Institutional investors own 59.76% of the company’s stock.

About Cytokinetics,

Cytokinetics, Incorporated is a late-stage biopharmaceutical company. The Company is focused on discovering, developing and commercializing first-in-class muscle activators as potential treatments for debilitating diseases in which muscle performance is compromised and/or declining. It is focused on the discovery and development of small molecule therapeutics that modulate muscle function for the treatment of serious diseases and medical conditions.

Analyst Recommendations for Cytokinetics, (NASDAQ:CYTK)

Receive News & Ratings for Cytokinetics Incorporated Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cytokinetics Incorporated and related companies with MarketBeat.com's FREE daily email newsletter.