Zacks: Brokerages Anticipate Cytokinetics, Inc. (CYTK) to Announce -$0.71 EPS

Wall Street brokerages expect Cytokinetics, Inc. (NASDAQ:CYTK) to post ($0.71) earnings per share (EPS) for the current quarter, Zacks Investment Research reports. Two analysts have issued estimates for Cytokinetics’ earnings. The lowest EPS estimate is ($0.93) and the highest is ($0.33). Cytokinetics posted earnings per share of $0.16 in the same quarter last year, which would indicate a negative year-over-year growth rate of 543.8%. The company is scheduled to announce its next earnings results on Thursday, February 15th.

On average, analysts expect that Cytokinetics will report full-year earnings of ($2.40) per share for the current financial year, with EPS estimates ranging from ($2.76) to ($2.14). For the next fiscal year, analysts anticipate that the company will post earnings of ($1.87) per share, with EPS estimates ranging from ($2.63) to ($1.11). Zacks Investment Research’s EPS calculations are an average based on a survey of sell-side research firms that cover Cytokinetics.

Cytokinetics (NASDAQ:CYTK) last posted its quarterly earnings results on Thursday, October 26th. The biopharmaceutical company reported ($0.60) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.64) by $0.04. The firm had revenue of $6.18 million during the quarter, compared to the consensus estimate of $5.35 million. Cytokinetics had a negative return on equity of 62.64% and a negative net margin of 172.27%.

Several brokerages have recently commented on CYTK. Morgan Stanley reiterated an “overweight” rating and set a $25.00 target price (up from $24.00) on shares of Cytokinetics in a research note on Friday, October 6th. Seaport Global Securities reiterated a “buy” rating and set a $24.00 target price on shares of Cytokinetics in a research note on Friday, October 6th. Cantor Fitzgerald reiterated a “buy” rating and set a $21.00 target price on shares of Cytokinetics in a research note on Tuesday, September 26th. HC Wainwright reiterated a “buy” rating and set a $26.00 target price on shares of Cytokinetics in a research note on Wednesday, September 20th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $22.00 target price on shares of Cytokinetics in a research note on Sunday, October 29th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and ten have issued a buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $17.64.

Cytokinetics (NASDAQ CYTK) traded down $0.15 during mid-day trading on Thursday, reaching $8.80. The company’s stock had a trading volume of 335,873 shares, compared to its average volume of 289,172. The company has a debt-to-equity ratio of 0.14, a quick ratio of 7.60 and a current ratio of 7.60. Cytokinetics has a 12-month low of $7.00 and a 12-month high of $17.20. The company has a market capitalization of $472.84, a P/E ratio of -5.30 and a beta of 1.61.

In related news, EVP Fady Ibraham Malik sold 7,321 shares of the business’s stock in a transaction on Wednesday, November 1st. The stock was sold at an average price of $13.39, for a total value of $98,028.19. Following the completion of the sale, the executive vice president now directly owns 47,540 shares in the company, valued at approximately $636,560.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Robert I. Blum sold 5,000 shares of the business’s stock in a transaction on Wednesday, November 1st. The shares were sold at an average price of $13.51, for a total value 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 a total of 16,581 shares of company stock valued at $220,703 over the last 90 days. 7.20% of the stock is currently owned by corporate insiders.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CYTK. Birchview Capital LP acquired a new position in Cytokinetics in the 3rd quarter valued at $145,000. Piedmont Investment Advisors LLC acquired a new position in Cytokinetics in the 3rd quarter valued at $159,000. BNP Paribas Arbitrage SA raised its holdings in Cytokinetics by 4,464.4% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 13,328 shares of the biopharmaceutical company’s stock valued at $161,000 after acquiring an additional 13,036 shares in the last quarter. SG Americas Securities LLC raised its holdings in Cytokinetics by 73.3% in the 2nd quarter. SG Americas Securities LLC now owns 14,306 shares of the biopharmaceutical company’s stock valued at $173,000 after acquiring an additional 6,052 shares in the last quarter. Finally, Dynamic Technology Lab Private Ltd acquired a new position in Cytokinetics in the 2nd quarter valued at $177,000. Institutional investors and hedge funds own 73.61% of the company’s stock.

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About Cytokinetics

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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