Cytokinetics, Incorporated (CYTK) Given Average Rating of “Buy” by Brokerages
Shares of Cytokinetics, Incorporated (NASDAQ:CYTK) have received an average rating of “Buy” from the fourteen brokerages that are currently covering the company, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a hold recommendation and eleven have given a buy recommendation to the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $22.33.
Several analysts recently commented on the stock. Cowen and Company reiterated a “buy” rating and issued a $19.00 price objective on shares of Cytokinetics, in a research note on Friday, August 4th. HC Wainwright set a $26.00 price objective on shares of Cytokinetics, and gave the company a “buy” rating in a research note on Thursday, August 3rd. Cantor Fitzgerald reiterated a “buy” rating and issued a $21.00 price objective on shares of Cytokinetics, in a research note on Tuesday, September 26th. Zacks Investment Research upgraded shares of Cytokinetics, from a “hold” rating to a “buy” rating and set a $15.00 price objective for the company in a research note on Monday, August 7th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $22.00 price objective on shares of Cytokinetics, in a research note on Sunday, September 17th.
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Cytokinetics, (CYTK) remained flat at $$12.55 during mid-day trading on Monday. The company’s stock had a trading volume of 353,900 shares, compared to its average volume of 514,511. Cytokinetics, has a 1 year low of $9.80 and a 1 year high of $17.20. The company has a quick ratio of 7.60, a current ratio of 7.60 and a debt-to-equity ratio of 0.14.
Cytokinetics, (NASDAQ:CYTK) last released its earnings results on Thursday, October 26th. The biopharmaceutical company reported ($0.60) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.64) by $0.04. Cytokinetics, had a negative net margin of 172.27% and a negative return on equity of 62.64%. The company had revenue of $6.18 million during the quarter, compared to analysts’ expectations of $5.35 million. equities research analysts expect that Cytokinetics, will post -2.39 earnings per share for the current fiscal year.
In other Cytokinetics, news, CEO Robert I. Blum sold 5,000 shares of Cytokinetics, stock in a transaction dated Wednesday, November 1st. The shares were sold at an average price of $13.51, for a total transaction of $67,550.00. Following the completion of the transaction, the chief executive officer now owns 70,180 shares in the company, valued at $948,131.80. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Caryn Gordon Mcdowell sold 4,260 shares of Cytokinetics, stock in a transaction dated Thursday, November 2nd. The stock was sold at an average price of $12.94, for a total transaction of $55,124.40. Following the transaction, the insider now owns 17,982 shares of the company’s stock, valued at approximately $232,687.08. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 178,223 shares of company stock valued at $2,639,239. 7.20% of the stock is currently owned by company insiders.
A number of institutional investors and hedge funds have recently made changes to their positions in CYTK. State of Alaska Department of Revenue acquired a new position in Cytokinetics, during the second quarter worth about $109,000. Municipal Employees Retirement System of Michigan purchased a new stake in shares of Cytokinetics, during the second quarter worth about $132,000. Birchview Capital LP purchased a new stake in shares of Cytokinetics, during the third quarter worth about $145,000. BNP Paribas Arbitrage SA grew its holdings in shares of Cytokinetics, by 4,464.4% during the second quarter. BNP Paribas Arbitrage SA now owns 13,328 shares of the biopharmaceutical company’s stock worth $161,000 after buying an additional 13,036 shares in the last quarter. Finally, Bank of America Corp DE grew its holdings in shares of Cytokinetics, by 36.8% during the first quarter. Bank of America Corp DE now owns 12,571 shares of the biopharmaceutical company’s stock worth $162,000 after buying an additional 3,383 shares in the last quarter. Institutional investors own 71.01% of the company’s stock.
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.
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