Analysts Set Cytokinetics, Incorporated (NASDAQ:CYTK) Target Price at $90.55

Cytokinetics, Incorporated (NASDAQ:CYTK) has earned a consensus rating of “Moderate Buy” from the twenty-two analysts that are presently covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $90.55.

CYTK has been the topic of several research analyst reports. Needham & Company LLC raised their target price on shares of Cytokinetics from $84.00 to $85.00 and gave the company a “buy” rating in a research note on Wednesday, February 25th. B. Riley Financial upped their price target on shares of Cytokinetics from $90.00 to $108.00 and gave the company a “buy” rating in a report on Wednesday, January 21st. JPMorgan Chase & Co. upped their price target on shares of Cytokinetics from $74.00 to $75.00 and gave the company an “overweight” rating in a report on Tuesday, March 17th. Citizens Jmp upped their price target on shares of Cytokinetics from $88.00 to $96.00 and gave the company a “market outperform” rating in a report on Wednesday, February 25th. Finally, Barclays upped their price target on shares of Cytokinetics from $87.00 to $95.00 and gave the company an “overweight” rating in a report on Monday, April 6th.

Insider Buying and Selling at Cytokinetics

In other Cytokinetics news, EVP Andrew Callos sold 7,449 shares of the company’s stock in a transaction dated Wednesday, April 15th. The shares were sold at an average price of $66.02, for a total value of $491,782.98. Following the completion of the sale, the executive vice president directly owned 58,555 shares of the company’s stock, valued at approximately $3,865,801.10. This represents a 11.29% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Fady Ibraham Malik sold 3,500 shares of the company’s stock in a transaction dated Tuesday, April 21st. The shares were sold at an average price of $65.69, for a total transaction of $229,915.00. Following the completion of the sale, the executive vice president directly owned 153,902 shares of the company’s stock, valued at $10,109,822.38. The trade was a 2.22% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 144,005 shares of company stock valued at $8,996,790 over the last 90 days. Insiders own 3.40% of the company’s stock.

Institutional Investors Weigh In On Cytokinetics

A number of institutional investors and hedge funds have recently bought and sold shares of CYTK. Bank of Montreal Can lifted its stake in Cytokinetics by 1.2% during the fourth quarter. Bank of Montreal Can now owns 13,292 shares of the biopharmaceutical company’s stock valued at $845,000 after buying an additional 160 shares in the last quarter. Kennedy Capital Management LLC lifted its stake in Cytokinetics by 1.2% during the fourth quarter. Kennedy Capital Management LLC now owns 13,183 shares of the biopharmaceutical company’s stock valued at $838,000 after buying an additional 162 shares in the last quarter. UMB Bank n.a. lifted its stake in Cytokinetics by 10.6% during the third quarter. UMB Bank n.a. now owns 1,762 shares of the biopharmaceutical company’s stock valued at $97,000 after buying an additional 169 shares in the last quarter. Northwestern Mutual Wealth Management Co. lifted its stake in Cytokinetics by 46.0% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 543 shares of the biopharmaceutical company’s stock valued at $35,000 after buying an additional 171 shares in the last quarter. Finally, Vident Advisory LLC lifted its stake in Cytokinetics by 1.4% during the fourth quarter. Vident Advisory LLC now owns 16,455 shares of the biopharmaceutical company’s stock valued at $1,046,000 after buying an additional 234 shares in the last quarter.

Cytokinetics Trading Down 1.5%

Cytokinetics stock opened at $60.69 on Wednesday. The stock has a market cap of $7.54 billion, a price-to-earnings ratio of -9.29 and a beta of 0.47. The company’s 50-day moving average price is $64.04 and its two-hundred day moving average price is $63.51. Cytokinetics has a 52 week low of $29.31 and a 52 week high of $70.98.

Cytokinetics (NASDAQ:CYTK) last released its earnings results on Tuesday, February 24th. The biopharmaceutical company reported ($1.50) EPS for the quarter, missing the consensus estimate of ($1.48) by ($0.02). The business had revenue of $17.76 million for the quarter, compared to analysts’ expectations of $8.02 million. The company’s revenue for the quarter was up 4.9% compared to the same quarter last year. During the same quarter last year, the firm posted ($1.26) earnings per share. Research analysts expect that Cytokinetics will post -6.22 earnings per share for the current fiscal year.

Cytokinetics Company Profile

Cytokinetics, Inc is a late‐stage biopharmaceutical company focused on the discovery and development of novel small‐molecule therapeutics that modulate muscle function. Founded in 1998 and headquartered in South San Francisco, California, the company applies its proprietary insights in muscle biology to address diseases characterized by impaired muscle performance. Its research spans both cardiac and skeletal muscle targets, aiming to deliver innovative medicines for conditions with significant unmet medical need.

The company’s most advanced program, omecamtiv mecarbil, is being evaluated for the treatment of heart failure by enhancing cardiac muscle contractility.