Cytokinetics (NASDAQ:CYTK) has been given a $21.00 price objective by analysts at HC Wainwright in a report released on Friday. The brokerage currently has a “buy” rating on the biopharmaceutical company’s stock. HC Wainwright’s target price suggests a potential upside of 183.78% from the company’s current price.
CYTK has been the topic of a number of other reports. ValuEngine upgraded Cytokinetics from a “hold” rating to a “buy” rating in a research note on Wednesday, October 3rd. Zacks Investment Research upgraded Cytokinetics from a “hold” rating to a “buy” rating and set a $10.00 target price on the stock in a research note on Saturday, July 14th. BidaskClub upgraded Cytokinetics from a “buy” rating to a “strong-buy” rating in a research note on Friday, September 28th. Finally, Morgan Stanley began coverage on shares of Cytokinetics in a research note on Monday, September 10th. They set an “equal weight” rating and a $10.00 price objective on the stock. One analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $13.00.
Cytokinetics stock opened at $7.40 on Friday. The company has a debt-to-equity ratio of 0.41, a current ratio of 8.95 and a quick ratio of 8.95. Cytokinetics has a 12 month low of $6.20 and a 12 month high of $13.65.
Cytokinetics (NASDAQ:CYTK) last released its quarterly earnings data on Thursday, November 1st. The biopharmaceutical company reported ($0.40) EPS for the quarter, topping analysts’ consensus estimates of ($0.51) by $0.11. The business had revenue of $10.64 million during the quarter, compared to analyst estimates of $2.23 million. Equities research analysts predict that Cytokinetics will post -2.06 EPS for the current fiscal year.
In other Cytokinetics news, CEO Robert I. Blum sold 4,000 shares of the business’s stock in a transaction dated Friday, October 5th. The shares were sold at an average price of $8.79, for a total value of $35,160.00. Following the sale, the chief executive officer now directly owns 160,022 shares in the company, valued at $1,406,593.38. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Over the last quarter, insiders sold 12,500 shares of company stock worth $102,650. 5.10% of the stock is owned by company insiders.
Institutional investors have recently modified their holdings of the business. DRW Securities LLC raised its position in Cytokinetics by 91.4% in the second quarter. DRW Securities LLC now owns 26,797 shares of the biopharmaceutical company’s stock worth $222,000 after acquiring an additional 12,797 shares in the last quarter. Fox Run Management L.L.C. raised its position in Cytokinetics by 181.8% in the second quarter. Fox Run Management L.L.C. now owns 31,627 shares of the biopharmaceutical company’s stock worth $263,000 after acquiring an additional 20,405 shares in the last quarter. A.R.T. Advisors LLC bought a new stake in Cytokinetics in the first quarter worth about $350,000. UBS Group AG raised its position in Cytokinetics by 226.7% in the first quarter. UBS Group AG now owns 54,910 shares of the biopharmaceutical company’s stock worth $396,000 after acquiring an additional 38,105 shares in the last quarter. Finally, DAFNA Capital Management LLC bought a new stake in Cytokinetics in the second quarter worth about $576,000. Hedge funds and other institutional investors own 68.39% of the company’s stock.
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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