Cytokinetics (NASDAQ:CYTK) received a $21.00 price objective from HC Wainwright in a note issued to investors on Wednesday. The brokerage presently has a “buy” rating on the biopharmaceutical company’s stock. HC Wainwright’s price objective would indicate a potential upside of 169.92% from the company’s previous close.
Several other research analysts also recently commented on CYTK. ValuEngine downgraded Cytokinetics from a “buy” rating to a “hold” rating in a report on Thursday, October 11th. BidaskClub downgraded Cytokinetics from a “buy” rating to a “hold” rating in a report on Monday. Cantor Fitzgerald set a $14.00 price target on Cytokinetics and gave the company a “buy” rating in a report on Wednesday. Finally, Zacks Investment Research upgraded Cytokinetics from a “hold” rating to a “buy” rating and set a $10.00 price target on the stock in a report on Saturday, July 14th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and seven have given a buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $13.00.
CYTK opened at $7.78 on Wednesday. The stock has a market capitalization of $538.09 million, a PE ratio of -3.00 and a beta of 1.41. The company has a current ratio of 8.95, a quick ratio of 8.95 and a debt-to-equity ratio of 0.41. Cytokinetics has a 12 month low of $6.20 and a 12 month high of $15.43.
Cytokinetics (NASDAQ:CYTK) last released its quarterly earnings data on Thursday, July 26th. The biopharmaceutical company reported ($0.51) EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of ($0.51). The company had revenue of $6.22 million during the quarter, compared to analysts’ expectations of $5.54 million. On average, analysts predict that Cytokinetics will post -2.03 earnings per share for the current year.
In other Cytokinetics news, CEO Robert I. Blum sold 4,000 shares of Cytokinetics stock in a transaction that occurred on Wednesday, September 5th. The stock was sold at an average price of $7.94, for a total transaction of $31,760.00. Following the sale, the chief executive officer now directly owns 164,022 shares of the company’s stock, valued at approximately $1,302,334.68. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Over the last ninety days, insiders have sold 16,500 shares of company stock worth $129,505. Insiders own 5.10% of the company’s stock.
A number of institutional investors have recently bought and sold shares of CYTK. JPMorgan Chase & Co. boosted its position in Cytokinetics by 28.6% during the 1st quarter. JPMorgan Chase & Co. now owns 112,399 shares of the biopharmaceutical company’s stock valued at $809,000 after acquiring an additional 25,014 shares in the last quarter. Principal Financial Group Inc. boosted its position in Cytokinetics by 2.5% during the 1st quarter. Principal Financial Group Inc. now owns 397,603 shares of the biopharmaceutical company’s stock valued at $2,863,000 after acquiring an additional 9,786 shares in the last quarter. UBS Group AG boosted its position in Cytokinetics by 226.7% during the 1st quarter. UBS Group AG now owns 54,910 shares of the biopharmaceutical company’s stock valued at $396,000 after acquiring an additional 38,105 shares in the last quarter. A.R.T. Advisors LLC bought a new stake in Cytokinetics during the 1st quarter valued at approximately $350,000. Finally, Millennium Management LLC boosted its position in Cytokinetics by 282.2% during the 1st quarter. Millennium Management LLC now owns 102,172 shares of the biopharmaceutical company’s stock valued at $736,000 after acquiring an additional 75,442 shares in the last quarter. 68.45% of the stock is currently owned by institutional investors and hedge funds.
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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