Equities research analysts expect Cytokinetics, Inc. (NASDAQ:CYTK) to announce sales of $3.46 million for the current fiscal quarter, according to Zacks. Two analysts have provided estimates for Cytokinetics’ earnings. The highest sales estimate is $4.91 million and the lowest is $2.00 million. Cytokinetics posted sales of -$20,000.00 in the same quarter last year, which suggests a positive year-over-year growth rate of 17,400%. The firm is scheduled to announce its next earnings results on Thursday, February 21st.
According to Zacks, analysts expect that Cytokinetics will report full year sales of $27.71 million for the current fiscal year, with estimates ranging from $24.12 million to $32.00 million. For the next financial year, analysts forecast that the firm will post sales of $34.23 million, with estimates ranging from $20.00 million to $51.50 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research firms that that provide coverage for Cytokinetics.
Cytokinetics (NASDAQ:CYTK) last announced its quarterly earnings results on Thursday, November 1st. The biopharmaceutical company reported ($0.40) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.51) by $0.11. The firm had revenue of $10.64 million during the quarter, compared to analyst estimates of $2.23 million.
A number of analysts recently weighed in on CYTK shares. BidaskClub upgraded shares of Cytokinetics from a “hold” rating to a “buy” rating in a research report on Saturday, September 8th. Zacks Investment Research upgraded shares of Cytokinetics from a “sell” rating to a “hold” rating and set a $8.00 price target on the stock in a research report on Friday, November 2nd. Morgan Stanley started coverage on shares of Cytokinetics in a research report on Monday, September 10th. They issued an “equal weight” rating and a $10.00 price target on the stock. ValuEngine upgraded shares of Cytokinetics from a “hold” rating to a “buy” rating in a research report on Thursday, November 8th. Finally, HC Wainwright reiterated a “buy” rating and issued a $21.00 price target on shares of Cytokinetics in a research report on Tuesday, November 27th. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Cytokinetics has an average rating of “Buy” and a consensus price target of $12.83.
In related news, CEO Robert I. Blum sold 4,000 shares of the stock in a transaction that occurred on Monday, November 5th. The stock was sold at an average price of $7.11, for a total transaction of $28,440.00. Following the completion of the sale, the chief executive officer now directly owns 156,022 shares of the company’s stock, valued at approximately $1,109,316.42. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Over the last three months, insiders have sold 11,000 shares of company stock valued at $87,330. 5.10% of the stock is owned by company insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Jefferies Group LLC bought a new stake in Cytokinetics during the 3rd quarter worth approximately $110,000. Virtu Financial LLC bought a new stake in Cytokinetics during the 3rd quarter worth approximately $111,000. DRW Securities LLC increased its stake in Cytokinetics by 91.4% during the 2nd quarter. DRW Securities LLC now owns 26,797 shares of the biopharmaceutical company’s stock worth $222,000 after purchasing an additional 12,797 shares in the last quarter. MetLife Investment Advisors LLC increased its stake in Cytokinetics by 57.9% during the 3rd quarter. MetLife Investment Advisors LLC now owns 29,553 shares of the biopharmaceutical company’s stock worth $291,000 after purchasing an additional 10,837 shares in the last quarter. Finally, UBS Group AG increased its stake in 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. 70.47% of the stock is owned by institutional investors and hedge funds.
Shares of NASDAQ:CYTK traded up $0.01 during mid-day trading on Friday, reaching $7.57. The stock had a trading volume of 293,200 shares, compared to its average volume of 342,343. The company has a market capitalization of $413.61 million, a price-to-earnings ratio of -2.92 and a beta of 2.01. The company has a debt-to-equity ratio of 0.73, a current ratio of 10.57 and a quick ratio of 10.58. Cytokinetics has a twelve month low of $6.02 and a twelve month high of $10.26.
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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