Wall Street brokerages expect Cytokinetics, Inc. (NASDAQ:CYTK) to post earnings of ($0.48) per share for the current fiscal quarter, Zacks Investment Research reports. Three analysts have made estimates for Cytokinetics’ earnings, with the lowest EPS estimate coming in at ($0.54) and the highest estimate coming in at ($0.39). Cytokinetics reported earnings of ($0.60) per share in the same quarter last year, which would indicate a positive year-over-year growth rate of 20%. The firm is scheduled to report its next earnings results on Thursday, October 25th.
According to Zacks, analysts expect that Cytokinetics will report full year earnings of ($1.96) per share for the current year, with EPS estimates ranging from ($2.17) to ($1.62). For the next financial year, analysts anticipate that the business will report earnings of ($1.93) per share, with EPS estimates ranging from ($2.27) to ($1.58). Zacks’ earnings per share calculations are an average based on a survey of analysts that cover Cytokinetics.
Cytokinetics (NASDAQ:CYTK) last issued its quarterly earnings data on Thursday, July 26th. The biopharmaceutical company reported ($0.51) EPS for the quarter, meeting the Zacks’ consensus estimate of ($0.51). The business had revenue of $6.22 million during the quarter, compared to analyst estimates of $5.54 million.
Several equities research analysts recently issued reports on the stock. BidaskClub raised shares of Cytokinetics from a “sell” rating to a “hold” rating in a research report on Thursday. ValuEngine downgraded shares of Cytokinetics from a “hold” rating to a “sell” rating in a report on Friday, August 3rd. Morgan Stanley downgraded shares of Cytokinetics from an “overweight” rating to an “equal weight” rating and decreased their price objective for the stock from $18.00 to $9.00 in a report on Wednesday, August 1st. HC Wainwright set a $24.00 price target on shares of Cytokinetics and gave the company a “buy” rating in a report on Friday, July 27th. Finally, Zacks Investment Research downgraded shares of Cytokinetics from a “buy” rating to a “hold” rating in a report on Tuesday, July 17th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and six have assigned a buy rating to the company’s stock. Cytokinetics has an average rating of “Hold” and an average target price of $14.00.
In other news, CEO Robert I. Blum sold 4,000 shares of the company’s stock in a transaction that occurred on Tuesday, June 5th. The stock was sold at an average price of $8.28, for a total transaction of $33,120.00. Following the completion of the transaction, the chief executive officer now directly owns 176,022 shares in the company, valued at $1,457,462.16. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Fady Ibraham Malik sold 3,000 shares of the company’s stock in a transaction on Thursday, June 7th. The shares were sold at an average price of $8.95, for a total value of $26,850.00. Following the completion of the transaction, the executive vice president now owns 96,067 shares of the company’s stock, valued at $859,799.65. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 18,000 shares of company stock valued at $146,780. Corporate insiders own 5.10% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of CYTK. DRW Securities LLC bought a new position in shares of Cytokinetics during the 1st quarter worth approximately $101,000. MetLife Investment Advisors LLC acquired a new position in Cytokinetics in the 4th quarter valued at $153,000. Millennium Management LLC acquired a new position in shares of Cytokinetics during the 4th quarter worth $218,000. Fox Run Management L.L.C. raised its holdings in shares of Cytokinetics by 181.8% during the 2nd quarter. Fox Run Management L.L.C. now owns 31,627 shares of the biopharmaceutical company’s stock worth $263,000 after buying an additional 20,405 shares in the last quarter. Finally, A.R.T. Advisors LLC acquired a new position in shares of Cytokinetics during the 1st quarter worth $350,000. Institutional investors and hedge funds own 67.54% of the company’s stock.
Shares of Cytokinetics traded up $0.05, hitting $7.00, during mid-day trading on Friday, Marketbeat Ratings reports. 210,432 shares of the stock were exchanged, compared to its average volume of 260,321. Cytokinetics has a twelve month low of $6.20 and a twelve month high of $15.95. The stock has a market capitalization of $379.67 million, a P/E ratio of -2.70 and a beta of 1.39. The company has a debt-to-equity ratio of 0.41, a current ratio of 8.95 and a quick ratio of 7.07.
Cytokinetics Company Profile
Cytokinetics, Incorporated, a late-stage biopharmaceutical company, focuses on discovering, developing, and commercializing muscle activators as potential treatments for debilitating diseases in which muscle performance is compromised and/or declining. It is developing small molecule drug candidates primarily engineered to increase muscle function and contractility.
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