Shares of Cytokinetics, Inc. (NASDAQ:CYTK) have been given a consensus rating of “Buy” by the thirteen research firms that are covering the company, Marketbeat.com reports. Two investment analysts have rated the stock with a sell recommendation, two have issued a hold recommendation and eight have issued a buy recommendation on the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $16.78.
CYTK has been the topic of a number of research analyst reports. JMP Securities reissued an “outperform” rating and issued a $13.00 price target (down from $17.00) on shares of Cytokinetics in a research note on Tuesday, November 21st. They noted that the move was a valuation call. Cantor Fitzgerald lowered Cytokinetics from an “overweight” rating to a “neutral” rating and decreased their price target for the stock from $21.00 to $10.00 in a research note on Wednesday, November 22nd. Needham & Company LLC lowered Cytokinetics from a “strong-buy” rating to a “buy” rating and reduced their price objective for the company from $22.00 to $12.00 in a research note on Tuesday, November 21st. ValuEngine lowered Cytokinetics from a “hold” rating to a “sell” rating in a research note on Tuesday, November 21st. Finally, BidaskClub raised Cytokinetics from a “strong sell” rating to a “sell” rating in a research note on Tuesday, March 6th.
Shares of Cytokinetics (NASDAQ CYTK) traded up $0.45 during trading hours on Friday, reaching $8.75. The company’s stock had a trading volume of 1,648,864 shares, compared to its average volume of 364,306. The company has a current ratio of 8.46, a quick ratio of 8.46 and a debt-to-equity ratio of 0.29. Cytokinetics has a 12-month low of $7.00 and a 12-month high of $17.20. The firm has a market cap of $472.57, a price-to-earnings ratio of -3.40 and a beta of 1.17.
Cytokinetics (NASDAQ:CYTK) last issued its quarterly earnings results on Thursday, February 15th. The biopharmaceutical company reported ($0.75) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.71) by ($0.04). Cytokinetics had a negative return on equity of 96.95% and a negative net margin of 172.27%. The business had revenue of ($0.02) million during the quarter, compared to analyst estimates of $4.83 million. equities analysts predict that Cytokinetics will post -1.81 earnings per share for the current year.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Crossmark Global Holdings Inc. acquired a new position in shares of Cytokinetics in the 3rd quarter valued at about $311,000. Schwab Charles Investment Management Inc. lifted its position in Cytokinetics by 8.3% during the 3rd quarter. Schwab Charles Investment Management Inc. now owns 303,347 shares of the biopharmaceutical company’s stock worth $4,399,000 after acquiring an additional 23,142 shares in the last quarter. Wells Fargo & Company MN lifted its position in Cytokinetics by 48.7% during the 3rd quarter. Wells Fargo & Company MN now owns 50,523 shares of the biopharmaceutical company’s stock worth $733,000 after acquiring an additional 16,555 shares in the last quarter. Janus Henderson Group PLC lifted its position in Cytokinetics by 3.5% during the 3rd quarter. Janus Henderson Group PLC now owns 2,778,605 shares of the biopharmaceutical company’s stock worth $40,290,000 after acquiring an additional 93,675 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its position in Cytokinetics by 4.8% during the 3rd quarter. Bank of New York Mellon Corp now owns 552,300 shares of the biopharmaceutical company’s stock worth $8,008,000 after acquiring an additional 25,510 shares in the last quarter. 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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