Cytokinetics, Inc. (NASDAQ:CYTK) shares saw an uptick in trading volume on Friday . 1,648,864 shares changed hands during mid-day trading, an increase of 320% from the previous session’s volume of 392,842 shares.The stock last traded at $8.75 and had previously closed at $8.30.
A number of research firms recently weighed in on CYTK. Piper Jaffray Companies restated an “overweight” rating and issued a $18.00 price objective on shares of Cytokinetics in a report on Tuesday, November 21st. JMP Securities restated an “outperform” rating and issued a $13.00 price objective (down from $17.00) on shares of Cytokinetics in a report on Tuesday, November 21st. They noted that the move was a valuation call. Needham & Company LLC downgraded Cytokinetics from a “strong-buy” rating to a “buy” rating and decreased their price objective for the company from $22.00 to $12.00 in a report on Tuesday, November 21st. HC Wainwright decreased their price objective on Cytokinetics from $26.00 to $17.00 and set a “buy” rating for the company in a report on Tuesday, November 21st. Finally, Cantor Fitzgerald restated a “hold” rating and issued a $10.00 price objective on shares of Cytokinetics in a report on Wednesday, January 17th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and eight have issued a buy rating to the company’s stock. Cytokinetics currently has an average rating of “Buy” and an average target price of $16.60.
The firm has a market capitalization of $475.27, a price-to-earnings ratio of -3.40 and a beta of 1.17. The company has a debt-to-equity ratio of 0.29, a quick ratio of 8.46 and a current ratio of 8.46.
Cytokinetics (NASDAQ:CYTK) last issued its quarterly earnings results on Thursday, February 15th. The biopharmaceutical company reported ($0.75) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.71) by ($0.04). The firm had revenue of ($0.02) million for the quarter, compared to the consensus estimate of $4.83 million. Cytokinetics had a negative net margin of 172.27% and a negative return on equity of 96.95%. equities analysts anticipate that Cytokinetics, Inc. will post -1.81 earnings per share for the current fiscal year.
Institutional investors and hedge funds have recently modified their holdings of the business. Piedmont Investment Advisors LLC bought a new stake in Cytokinetics during the third quarter valued at $159,000. GSA Capital Partners LLP bought a new stake in Cytokinetics during the third quarter valued at $187,000. Virtu Financial LLC bought a new stake in Cytokinetics during the fourth quarter valued at $112,000. Teacher Retirement System of Texas bought a new stake in Cytokinetics during the fourth quarter valued at $113,000. Finally, Cornerstone Capital Management Holdings LLC. bought a new stake in Cytokinetics during the third quarter valued at $216,000. 71.41% of the stock is currently owned by institutional investors and hedge funds.
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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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