Morgan Stanley assumed coverage on shares of Cytokinetics (NASDAQ:CYTK) in a research note published on Monday, Marketbeat.com reports. The firm issued an equal weight rating and a $10.00 price target on the biopharmaceutical company’s stock.

CYTK has been the topic of several other reports. BidaskClub upgraded Cytokinetics from a hold rating to a buy rating in a report on Saturday, September 8th. Zacks Investment Research downgraded Cytokinetics from a buy rating to a hold rating in a report on Tuesday, July 17th. Cantor Fitzgerald restated a hold rating and set a $10.00 price objective on shares of Cytokinetics in a report on Sunday, June 17th. HC Wainwright lifted their price objective on Cytokinetics to $24.00 and gave the stock a buy rating in a report on Monday, June 18th. Finally, Piper Jaffray Companies dropped their price objective on Cytokinetics to $13.00 and set an overweight rating on the stock in a report on Monday, June 18th. Four research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Cytokinetics has a consensus rating of Buy and a consensus target price of $14.11.

CYTK stock opened at $8.10 on Monday. The company has a debt-to-equity ratio of 0.41, a quick ratio of 8.95 and a current ratio of 8.95. Cytokinetics has a 52-week low of $6.20 and a 52-week high of $15.95.

Cytokinetics (NASDAQ:CYTK) last posted its quarterly earnings data on Thursday, July 26th. The biopharmaceutical company reported ($0.51) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.51). The business had revenue of $6.22 million for the quarter, compared to analysts’ expectations of $5.54 million. sell-side analysts expect that Cytokinetics will post -2.05 earnings per share for the current year.

In other news, CEO Robert I. Blum sold 4,000 shares of Cytokinetics stock in a transaction that occurred on Friday, August 3rd. The stock was sold at an average price of $6.65, for a total value of $26,600.00. Following the completion of the transaction, the chief executive officer now owns 168,022 shares in the company, valued at approximately $1,117,346.30. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In the last quarter, insiders sold 16,500 shares of company stock valued at $130,570. Insiders own 5.10% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of CYTK. Millennium Management LLC acquired a new position in shares of Cytokinetics in the 4th quarter worth approximately $218,000. Virginia Retirement Systems ET AL grew its position in shares of Cytokinetics by 13.2% in the 1st quarter. Virginia Retirement Systems ET AL now owns 84,800 shares of the biopharmaceutical company’s stock worth $611,000 after acquiring an additional 9,900 shares in the last quarter. Swiss National Bank grew its position in shares of Cytokinetics by 13.7% in the 1st quarter. Swiss National Bank now owns 74,100 shares of the biopharmaceutical company’s stock worth $534,000 after acquiring an additional 8,900 shares in the last quarter. JPMorgan Chase & Co. grew its position in shares of Cytokinetics by 28.6% in the 1st quarter. JPMorgan Chase & Co. now owns 112,399 shares of the biopharmaceutical company’s stock worth $809,000 after acquiring an additional 25,014 shares in the last quarter. Finally, Employees Retirement System of Texas acquired a new position in shares of Cytokinetics in the 1st quarter worth approximately $360,000. Institutional investors own 68.45% of the company’s stock.

Cytokinetics Company Profile

Cytokinetics, Incorporated, a late-stage biopharmaceutical company, focuses on discovering, developing, and commercializing muscle activators as potential treatments for debilitating diseases in which muscle performance is compromised and/or declining. It is developing small molecule drug candidates primarily engineered to increase muscle function and contractility.

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Analyst Recommendations for Cytokinetics (NASDAQ:CYTK)

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