Shares of Cytokinetics, Inc. (NASDAQ:CYTK) have received a consensus recommendation of “Buy” from the seven brokerages that are covering the company, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation, four have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $16.25.
CYTK has been the topic of a number of recent research reports. Zacks Investment Research lowered shares of Cytokinetics from a “hold” rating to a “sell” rating in a report on Tuesday, July 9th. Piper Jaffray Companies set a $14.00 price target on shares of Cytokinetics and gave the stock a “buy” rating in a report on Monday, July 15th. HC Wainwright lifted their price target on shares of Cytokinetics from $21.00 to $26.00 and gave the stock a “buy” rating in a report on Monday, May 6th. ValuEngine upgraded shares of Cytokinetics from a “buy” rating to a “strong-buy” rating in a report on Friday, May 10th. Finally, BidaskClub upgraded shares of Cytokinetics from a “hold” rating to a “buy” rating in a report on Friday.
In related news, CEO Robert I. Blum sold 6,000 shares of the business’s stock in a transaction on Monday, July 15th. The shares were sold at an average price of $10.94, for a total value of $65,640.00. Following the transaction, the chief executive officer now owns 256,022 shares in the company, valued at $2,800,880.68. The transaction was disclosed in a document filed with the SEC, which is available through this link. In the last 90 days, insiders sold 15,000 shares of company stock worth $156,255. 5.70% of the stock is owned by company insiders.
Hedge funds have recently added to or reduced their stakes in the stock. Bank of Montreal Can increased its stake in Cytokinetics by 109.5% in the first quarter. Bank of Montreal Can now owns 3,321 shares of the biopharmaceutical company’s stock valued at $27,000 after purchasing an additional 1,736 shares in the last quarter. BNP Paribas Arbitrage SA increased its stake in Cytokinetics by 59,718.8% in the first quarter. BNP Paribas Arbitrage SA now owns 9,571 shares of the biopharmaceutical company’s stock valued at $77,000 after purchasing an additional 9,555 shares in the last quarter. Meeder Asset Management Inc. increased its stake in Cytokinetics by 404.0% in the second quarter. Meeder Asset Management Inc. now owns 9,994 shares of the biopharmaceutical company’s stock valued at $112,000 after purchasing an additional 8,011 shares in the last quarter. Squarepoint Ops LLC increased its stake in Cytokinetics by 14.2% in the fourth quarter. Squarepoint Ops LLC now owns 11,600 shares of the biopharmaceutical company’s stock valued at $73,000 after purchasing an additional 1,438 shares in the last quarter. Finally, Municipal Employees Retirement System of Michigan bought a new stake in Cytokinetics in the fourth quarter valued at $98,000. Institutional investors and hedge funds own 69.23% of the company’s stock.
Shares of NASDAQ:CYTK traded down $0.32 during mid-day trading on Wednesday, reaching $12.18. 60,536 shares of the company’s stock were exchanged, compared to its average volume of 408,402. The firm has a market cap of $718.04 million, a price-to-earnings ratio of -6.25 and a beta of 1.66. The firm’s fifty day simple moving average is $11.24. The company has a quick ratio of 7.09, a current ratio of 7.09 and a debt-to-equity ratio of 12.35. Cytokinetics has a twelve month low of $5.75 and a twelve month high of $12.93.
Cytokinetics (NASDAQ:CYTK) last issued its quarterly earnings results on Thursday, May 9th. The biopharmaceutical company reported ($0.54) EPS for the quarter, missing analysts’ consensus estimates of ($0.47) by ($0.07). The business had revenue of $8.46 million for the quarter, compared to analyst estimates of $6.21 million. Cytokinetics had a negative return on equity of 269.27% and a negative net margin of 303.70%. Sell-side analysts anticipate that Cytokinetics will post -1.85 EPS for the current fiscal year.
Cytokinetics, Incorporated, a late-stage biopharmaceutical company, focuses on discovering, developing, and commercializing muscle activators and inhibitors as potential treatments for debilitating diseases in which muscle performance is compromised and/or declining. The company is developing small molecule drug candidates primarily engineered to increase muscle function and contractility.
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