Cytokinetics (CYTK) PT Raised to $18.00 at Morgan Stanley

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.

TRADEMARK VIOLATION WARNING: This story was originally posted by Dispatch Tribunal and is the sole property of of Dispatch Tribunal. If you are accessing this story on another website, it was illegally copied and reposted in violation of U.S. & international copyright & trademark legislation. The correct version of this story can be viewed at https://www.dispatchtribunal.com/2018/02/23/cytokinetics-cytk-pt-raised-to-18-00-at-morgan-stanley.html.

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.

Analyst Recommendations for Cytokinetics (NASDAQ:CYTK)

Receive News & Ratings for Cytokinetics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cytokinetics and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply