Cytokinetics (NASDAQ:CYTK) had its target price boosted by stock analysts at Morgan Stanley from $17.00 to $18.00 in a note issued to investors on Wednesday. The brokerage presently has an “overweight” rating on the biopharmaceutical company’s stock. Morgan Stanley’s target price would suggest a potential upside of 130.77% from the stock’s current price.
Several other brokerages also recently issued reports on CYTK. TheStreet downgraded Cytokinetics from a “c” rating to a “d” rating in a report on Friday, October 27th. JMP Securities restated an “outperform” rating and issued a $13.00 target price (down from $17.00) on shares of Cytokinetics in a research report on Tuesday, November 21st. They noted that the move was a valuation call. Cantor Fitzgerald cut Cytokinetics from an “overweight” rating to a “neutral” rating and lowered their target price for the company from $21.00 to $10.00 in a research report on Wednesday, November 22nd. Needham & Company LLC cut Cytokinetics from a “strong-buy” rating to a “buy” rating and lowered their target price for the company from $22.00 to $12.00 in a research report on Tuesday, November 21st. Finally, ValuEngine cut Cytokinetics from a “hold” rating to a “sell” rating in a research report on Tuesday, November 21st. One research analyst has rated the stock with a sell rating, two have given a hold rating and nine have given a buy rating to the stock. Cytokinetics presently has a consensus rating of “Buy” and a consensus target price of $16.60.
Shares of Cytokinetics (NASDAQ:CYTK) opened at $7.80 on Wednesday. Cytokinetics has a 1-year low of $7.00 and a 1-year high of $17.20. The company has a current ratio of 8.46, a quick ratio of 7.60 and a debt-to-equity ratio of 0.29.
Cytokinetics (NASDAQ:CYTK) last announced its quarterly earnings results on Thursday, February 15th. The biopharmaceutical company reported ($0.75) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.71) by ($0.04). The company had revenue of ($0.02) million during the quarter, compared to the consensus estimate of $4.83 million. Cytokinetics had a negative return on equity of 96.95% and a negative net margin of 172.27%. analysts predict that Cytokinetics will post -1.93 EPS for the current year.
A number of institutional investors and hedge funds have recently bought and sold shares of the stock. MetLife Investment Advisors LLC acquired a new stake in Cytokinetics in the 4th quarter valued at approximately $153,000. Millennium Management LLC acquired a new stake in Cytokinetics in the 4th quarter valued at approximately $218,000. Two Sigma Investments LP increased its position in Cytokinetics by 258.1% in the 4th quarter. Two Sigma Investments LP now owns 113,902 shares of the biopharmaceutical company’s stock valued at $928,000 after acquiring an additional 82,093 shares during the period. Two Sigma Advisers LP increased its position in Cytokinetics by 62.6% in the 4th quarter. Two Sigma Advisers LP now owns 74,800 shares of the biopharmaceutical company’s stock valued at $610,000 after acquiring an additional 28,800 shares during the period. Finally, Ellington Management Group LLC acquired a new stake in Cytokinetics in the 4th quarter valued at approximately $128,000. Hedge funds and other institutional investors own 63.67% 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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