Cytokinetics (CYTK) Issues Earnings Results

Cytokinetics (NASDAQ:CYTK) announced its quarterly earnings data on Thursday. The biopharmaceutical company reported ($0.40) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.51) by $0.11, Fidelity Earnings reports. The firm had revenue of $10.64 million during the quarter, compared to analyst estimates of $2.23 million.

Shares of NASDAQ:CYTK traded up $0.47 during mid-day trading on Friday, hitting $7.40. 717,000 shares of the company traded hands, compared to its average volume of 332,296. The stock has a market cap of $360.55 million, a price-to-earnings ratio of -2.86 and a beta of 1.42. The company has a quick ratio of 8.95, a current 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 $13.65.

In related 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 transaction, the chief executive officer now owns 164,022 shares of the company’s stock, valued at $1,302,334.68. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In the last ninety days, insiders have sold 12,500 shares of company stock worth $102,650. 5.10% of the stock is owned by insiders.

A number of equities research analysts have commented on CYTK shares. BidaskClub raised Cytokinetics from a “hold” rating to a “buy” rating in a research note on Saturday, July 7th. Zacks Investment Research raised Cytokinetics from a “hold” rating to a “buy” rating and set a $10.00 price objective for the company in a research note on Saturday, July 14th. HC Wainwright set a $24.00 price objective on Cytokinetics and gave the company a “buy” rating in a research note on Friday, July 27th. Morgan Stanley cut Cytokinetics from an “overweight” rating to an “equal weight” rating and reduced their price objective for the company from $18.00 to $9.00 in a research note on Wednesday, August 1st. Finally, ValuEngine cut Cytokinetics from a “hold” rating to a “sell” rating in a research note on Friday, August 3rd. Two research analysts have rated the stock with a sell rating, one has issued a hold rating and seven have issued a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $13.00.

About Cytokinetics

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.

Further Reading: Market Capitalization – What it Means for Investors

Earnings History for Cytokinetics (NASDAQ:CYTK)

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