Wall Street analysts expect that Cytokinetics, Inc. (NASDAQ:CYTK) will report ($0.53) earnings per share for the current fiscal quarter, Zacks reports. Two analysts have issued estimates for Cytokinetics’ earnings. The highest EPS estimate is ($0.51) and the lowest is ($0.54). Cytokinetics reported earnings per share of ($0.60) in the same quarter last year, which suggests a positive year-over-year growth rate of 11.7%. The company is scheduled to announce its next earnings results on Thursday, October 25th.

On average, analysts expect that Cytokinetics will report full year earnings of ($2.06) per share for the current fiscal year, with EPS estimates ranging from ($2.17) to ($1.95). For the next year, analysts forecast that the firm will report earnings of ($1.84) per share, with EPS estimates ranging from ($2.27) to ($1.24). Zacks’ EPS calculations are an average based on a survey of research analysts that that provide coverage for Cytokinetics.

Cytokinetics (NASDAQ:CYTK) last announced its quarterly earnings data on Thursday, July 26th. The biopharmaceutical company reported ($0.51) earnings per share for the quarter, meeting the Zacks’ consensus estimate of ($0.51). The business had revenue of $6.22 million during the quarter, compared to analysts’ expectations of $5.54 million.

A number of equities research analysts have recently issued reports on the stock. ValuEngine downgraded shares of Cytokinetics from a “buy” rating to a “hold” rating in a research report on Thursday. BidaskClub downgraded shares of Cytokinetics from a “strong-buy” rating to a “buy” rating in a research report on Tuesday. HC Wainwright reduced their price target on shares of Cytokinetics from $24.00 to $21.00 and set a “buy” rating for the company in a research report on Friday, October 5th. They noted that the move was a valuation call. Morgan Stanley set a $10.00 price target on shares of Cytokinetics and gave the company a “hold” rating in a research report on Friday, October 5th. Finally, Zacks Investment Research downgraded shares of Cytokinetics from a “hold” rating to a “sell” rating in a research report on Wednesday, October 3rd. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and seven have given a buy rating to the company’s stock. Cytokinetics currently has an average rating of “Buy” and a consensus price target of $13.00.

In other news, CEO Robert I. Blum sold 4,000 shares of Cytokinetics stock in a transaction that occurred on Wednesday, September 5th. The shares were sold at an average price of $7.94, for a total transaction of $31,760.00. Following the completion of the sale, the chief executive officer now directly owns 164,022 shares in the company, valued at approximately $1,302,334.68. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Over the last quarter, insiders have sold 16,500 shares of company stock valued at $129,505. Insiders own 5.10% of the company’s stock.

Several hedge funds have recently bought and sold shares of CYTK. BlackRock Inc. raised its position in shares of Cytokinetics by 9.5% during the 2nd quarter. BlackRock Inc. now owns 7,943,794 shares of the biopharmaceutical company’s stock worth $65,934,000 after purchasing an additional 686,537 shares during the last quarter. Wasatch Advisors Inc. raised its position in shares of Cytokinetics by 3.9% during the 2nd quarter. Wasatch Advisors Inc. now owns 1,830,049 shares of the biopharmaceutical company’s stock worth $15,189,000 after purchasing an additional 68,167 shares during the last quarter. Northern Trust Corp raised its position in shares of Cytokinetics by 16.7% during the 2nd quarter. Northern Trust Corp now owns 498,546 shares of the biopharmaceutical company’s stock worth $4,138,000 after purchasing an additional 71,418 shares during the last quarter. Millennium Management LLC raised its position in shares of Cytokinetics by 351.9% during the 2nd quarter. Millennium Management LLC now owns 461,733 shares of the biopharmaceutical company’s stock worth $3,832,000 after purchasing an additional 359,561 shares during the last quarter. Finally, Principal Financial Group Inc. raised its position in shares of Cytokinetics by 2.5% during the 1st quarter. Principal Financial Group Inc. now owns 397,603 shares of the biopharmaceutical company’s stock worth $2,863,000 after purchasing an additional 9,786 shares during the last quarter. Institutional investors own 68.45% of the company’s stock.

Shares of CYTK opened at $7.61 on Friday. Cytokinetics has a twelve month low of $6.20 and a twelve month high of $15.85. The company has a debt-to-equity ratio of 0.41, a quick ratio of 8.95 and a current ratio of 8.95. The company has a market capitalization of $538.09 million, a price-to-earnings ratio of -2.94 and a beta of 1.41.

About Cytokinetics

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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