Cantor Fitzgerald cut shares of Cytokinetics (NASDAQ:CYTK) from an overweight rating to a neutral rating in a research note issued to investors on Wednesday, November 22nd, MarketBeat.com reports. Cantor Fitzgerald currently has $10.00 price objective on the biopharmaceutical company’s stock, down from their prior price objective of $21.00.
A number of other research analysts also recently commented on the stock. HC Wainwright reaffirmed a buy rating and set a $26.00 price objective on shares of Cytokinetics in a research report on Friday, October 27th. ValuEngine raised shares of Cytokinetics from a sell rating to a hold rating in a research report on Friday, September 1st. Seaport Global Securities reaffirmed a buy rating and set a $24.00 price objective on shares of Cytokinetics in a research report on Friday, October 6th. Morgan Stanley reaffirmed an overweight rating and set a $25.00 price objective (up from $24.00) on shares of Cytokinetics in a research report on Friday, October 6th. Finally, Zacks Investment Research cut shares of Cytokinetics from a buy rating to a hold rating in a research note on Thursday, August 17th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and ten have given a buy rating to the stock. The company currently has an average rating of Buy and an average target price of $17.64.
Shares of Cytokinetics (NASDAQ CYTK) traded up $0.30 on Wednesday, reaching $8.10. 543,142 shares of the company were exchanged, compared to its average volume of 594,790. Cytokinetics has a 52-week low of $7.00 and a 52-week high of $17.20. The company has a current ratio of 7.60, a quick ratio of 7.60 and a debt-to-equity ratio of 0.14.
Cytokinetics (NASDAQ:CYTK) last announced its quarterly earnings data on Thursday, October 26th. The biopharmaceutical company reported ($0.60) EPS for the quarter, beating the Zacks’ 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 firm had revenue of $6.18 million for the quarter, compared to the consensus estimate of $5.35 million. equities research analysts predict that Cytokinetics will post -2.4 EPS for the current year.
In other news, insider Caryn Gordon Mcdowell sold 4,260 shares of the business’s stock in a transaction on Thursday, November 2nd. The shares were sold at an average price of $12.94, for a total value of $55,124.40. Following the completion of the sale, the insider now directly owns 17,982 shares in the company, valued at $232,687.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Robert I. Blum sold 5,000 shares of the business’s stock in a transaction on Wednesday, November 1st. The stock was sold at an average price of $13.51, for a total transaction of $67,550.00. Following the completion of the sale, the chief executive officer now owns 70,180 shares of the company’s stock, valued at $948,131.80. The disclosure for this sale can be found here. Insiders sold 34,762 shares of company stock valued at $497,826 over the last quarter. Corporate insiders own 7.20% of the company’s stock.
Several institutional investors have recently modified their holdings of the company. Vanguard Group Inc. lifted its stake in shares of Cytokinetics by 59.9% in the second quarter. Vanguard Group Inc. now owns 3,117,496 shares of the biopharmaceutical company’s stock worth $37,721,000 after buying an additional 1,168,151 shares during the last quarter. Janus Henderson Group PLC lifted its stake in shares of Cytokinetics by 3.5% in the third quarter. Janus Henderson Group PLC now owns 2,778,605 shares of the biopharmaceutical company’s stock worth $40,290,000 after buying an additional 93,675 shares during the last quarter. State Street Corp lifted its stake in shares of Cytokinetics by 79.6% in the second quarter. State Street Corp now owns 1,674,335 shares of the biopharmaceutical company’s stock worth $20,259,000 after buying an additional 741,909 shares during the last quarter. Pinnacle Associates Ltd. acquired a new stake in shares of Cytokinetics in the third quarter worth $14,628,000. Finally, Citigroup Inc. raised its stake in Cytokinetics by 9.9% during the 2nd quarter. Citigroup Inc. now owns 800,471 shares of the biopharmaceutical company’s stock valued at $9,686,000 after purchasing an additional 71,811 shares during the last quarter. Institutional investors and hedge funds own 73.72% of the company’s stock.
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Cytokinetics Company Profile
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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