Cantor Fitzgerald set a $14.00 price objective on Cytokinetics (NASDAQ:CYTK) in a report issued on Friday. The firm currently has a buy rating on the biopharmaceutical company’s stock.
Other research analysts have also issued research reports about the stock. BidaskClub lowered shares of Cytokinetics from a buy rating to a hold rating in a research note on Thursday, July 19th. ValuEngine upgraded shares of Cytokinetics from a sell rating to a hold rating in a research report on Thursday, August 23rd. Zacks Investment Research lowered shares of Cytokinetics from a hold rating to a sell rating in a research report on Wednesday, October 3rd. Morgan Stanley set a $10.00 target price on shares of Cytokinetics and gave the stock a hold rating in a research report on Friday, October 5th. Finally, HC Wainwright set a $24.00 target price on shares of Cytokinetics and gave the stock a buy rating in a research report on Friday, July 27th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and seven have issued a buy rating to the company’s stock. The stock currently has an average rating of Buy and an average price target of $13.00.
Shares of CYTK opened at $6.84 on Friday. Cytokinetics has a 52 week low of $6.20 and a 52 week high of $13.55. The stock has a market capitalization of $404.25 million, a P/E ratio of -2.64 and a beta of 1.98. The company has a current ratio of 10.57, a quick ratio of 8.95 and a debt-to-equity ratio of 0.73.
Cytokinetics (NASDAQ:CYTK) last announced its quarterly earnings results on Thursday, November 1st. The biopharmaceutical company reported ($0.40) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.51) by $0.11. The company had revenue of $10.64 million during the quarter, compared to analyst estimates of $2.23 million. Equities analysts expect that Cytokinetics will post -2.06 earnings per share for the current year.
In other Cytokinetics news, CEO Robert I. Blum sold 4,000 shares of the stock in a transaction that occurred on Wednesday, September 5th. The shares were 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 in the company, valued at approximately $1,302,334.68. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In the last 90 days, insiders have sold 12,500 shares of company stock worth $102,650. Company insiders own 5.10% of the company’s stock.
Large investors have recently made changes to their positions in the business. UBS Group AG grew its position in shares of Cytokinetics by 226.7% during the 1st quarter. UBS Group AG now owns 54,910 shares of the biopharmaceutical company’s stock worth $396,000 after purchasing an additional 38,105 shares in the last quarter. Principal Financial Group Inc. grew its position in shares of Cytokinetics by 2.5% during the 1st quarter. Principal Financial Group Inc. now owns 397,603 shares of the biopharmaceutical company’s stock worth $2,863,000 after purchasing an additional 9,786 shares in the last quarter. JPMorgan Chase & Co. grew its position in shares of Cytokinetics by 28.6% during the 1st quarter. JPMorgan Chase & Co. now owns 112,399 shares of the biopharmaceutical company’s stock worth $809,000 after purchasing an additional 25,014 shares in the last quarter. Millennium Management LLC grew its position in shares of Cytokinetics by 351.9% during the 2nd quarter. Millennium Management LLC now owns 461,733 shares of the biopharmaceutical company’s stock worth $3,832,000 after purchasing an additional 359,561 shares in the last quarter. Finally, A.R.T. Advisors LLC bought a new stake in shares of Cytokinetics during the 1st quarter worth approximately $350,000. Hedge funds and other institutional investors own 68.39% of the company’s stock.
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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