Cytokinetics, Inc. (CYTK) Receives $14.50 Average Target Price from Analysts

Cytokinetics, Inc. (NASDAQ:CYTK) has received a consensus rating of “Buy” from the seven analysts that are covering the firm, Marketbeat Ratings reports. Two research analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $14.50.

Several research analysts have commented on CYTK shares. BidaskClub upgraded shares of Cytokinetics from a “hold” rating to a “buy” rating in a research report on Tuesday, March 26th. Piper Jaffray Companies upped their target price on shares of Cytokinetics from $12.00 to $13.00 and gave the stock an “overweight” rating in a research report on Wednesday, March 20th. ValuEngine upgraded shares of Cytokinetics from a “hold” rating to a “buy” rating in a research report on Wednesday, March 20th. HC Wainwright restated a “buy” rating and issued a $21.00 target price on shares of Cytokinetics in a research report on Tuesday, March 19th. Finally, Zacks Investment Research cut shares of Cytokinetics from a “buy” rating to a “hold” rating in a research report on Tuesday, February 26th.

Shares of NASDAQ:CYTK traded down $0.02 during trading on Thursday, reaching $8.03. 156,170 shares of the company’s stock traded hands, compared to its average volume of 680,019. The company has a quick ratio of 9.36, a current ratio of 9.36 and a debt-to-equity ratio of 1.53. Cytokinetics has a 12 month low of $5.75 and a 12 month high of $10.44. The company has a market cap of $444.05 million, a PE ratio of -4.12 and a beta of 2.06.

Cytokinetics (NASDAQ:CYTK) last announced its quarterly earnings data on Thursday, February 21st. The biopharmaceutical company reported ($0.48) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.51) by $0.03. Cytokinetics had a negative net margin of 337.42% and a negative return on equity of 168.21%. The business had revenue of $9.38 million during the quarter, compared to the consensus estimate of $3.46 million. As a group, research analysts forecast that Cytokinetics will post -1.75 EPS for the current fiscal year.

In other Cytokinetics news, CEO Robert I. Blum sold 4,000 shares of the company’s stock in a transaction dated Friday, January 4th. The shares were sold at an average price of $7.11, for a total value of $28,440.00. Following the completion of the transaction, the chief executive officer now owns 148,022 shares in the company, valued at approximately $1,052,436.42. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In the last 90 days, insiders sold 8,500 shares of company stock valued at $59,295. 5.10% of the stock is owned by insiders.

Several institutional investors have recently bought and sold shares of CYTK. Bank of New York Mellon Corp boosted its holdings in shares of Cytokinetics by 5.4% in the third quarter. Bank of New York Mellon Corp now owns 581,465 shares of the biopharmaceutical company’s stock valued at $5,727,000 after acquiring an additional 29,923 shares in the last quarter. BlackRock Inc. boosted its holdings in shares of Cytokinetics by 9.5% in the third quarter. BlackRock Inc. now owns 8,698,387 shares of the biopharmaceutical company’s stock valued at $85,680,000 after acquiring an additional 754,593 shares in the last quarter. FMR LLC boosted its holdings in shares of Cytokinetics by 3.7% in the third quarter. FMR LLC now owns 1,956,383 shares of the biopharmaceutical company’s stock valued at $19,271,000 after acquiring an additional 70,631 shares in the last quarter. Virtu Financial LLC bought a new position in shares of Cytokinetics in the third quarter valued at approximately $111,000. Finally, Dimensional Fund Advisors LP boosted its holdings in shares of Cytokinetics by 233.6% in the third quarter. Dimensional Fund Advisors LP now owns 229,377 shares of the biopharmaceutical company’s stock valued at $2,259,000 after acquiring an additional 160,622 shares in the last quarter. Institutional investors and hedge funds own 72.43% of the company’s stock.

About Cytokinetics

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

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