Cytokinetics, Inc. (CYTK) Given Average Rating of “Buy” by Brokerages

Cytokinetics, Inc. (NASDAQ:CYTK) has been given a consensus rating of “Buy” by the thirteen research firms that are covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, two have given a hold recommendation and nine have assigned a buy recommendation to the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $16.78.

A number of equities research analysts recently issued reports on CYTK shares. HC Wainwright set a $20.00 target price on Cytokinetics and gave the company a “buy” rating in a research report on Friday, January 19th. Morgan Stanley reissued an “overweight” rating and issued a $17.00 target price (down previously from $25.00) on shares of Cytokinetics in a research report on Wednesday, November 22nd. Cantor Fitzgerald lowered Cytokinetics from an “overweight” rating to a “neutral” rating and dropped their target price for the company from $21.00 to $10.00 in a research report on Wednesday, November 22nd. ValuEngine lowered Cytokinetics from a “hold” rating to a “sell” rating in a research report on Tuesday, November 21st. Finally, Needham & Company LLC reissued a “buy” rating and issued a $22.00 target price on shares of Cytokinetics in a research report on Sunday, October 29th.

A number of hedge funds have recently bought and sold shares of CYTK. Virtu Financial LLC bought a new position in Cytokinetics in the fourth quarter valued at approximately $112,000. Teacher Retirement System of Texas bought a new position in shares of Cytokinetics during the 4th quarter worth approximately $113,000. Ellington Management Group LLC bought a new position in shares of Cytokinetics during the 4th quarter worth approximately $128,000. Birchview Capital LP bought a new position in shares of Cytokinetics during the 3rd quarter worth approximately $145,000. Finally, Granite Investment Advisors LLC bought a new position in shares of Cytokinetics during the 4th quarter worth approximately $151,000. Hedge funds and other institutional investors own 63.67% of the company’s stock.

Shares of Cytokinetics (NASDAQ CYTK) traded down $0.27 during trading on Wednesday, reaching $7.75. The company had a trading volume of 422,600 shares, compared to its average volume of 367,075. Cytokinetics has a 1-year low of $7.00 and a 1-year high of $17.20. The firm has a market cap of $424.34, a price-to-earnings ratio of -3.05 and a beta of 1.03. The company has a debt-to-equity ratio of 0.29, a quick ratio of 7.60 and a current ratio of 8.46.

Cytokinetics (NASDAQ:CYTK) last announced its earnings results on Thursday, February 15th. The biopharmaceutical company reported ($0.75) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.71) by ($0.04). Cytokinetics had a negative net margin of 172.27% and a negative return on equity of 96.95%. The firm had revenue of ($0.02) million during the quarter, compared to analyst estimates of $4.83 million. analysts anticipate that Cytokinetics will post -1.74 EPS for the current fiscal year.

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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.

Analyst Recommendations for Cytokinetics (NASDAQ:CYTK)

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