Cytokinetics (NASDAQ:CYTK) Rating Lowered to Sell at ValuEngine

ValuEngine downgraded shares of Cytokinetics (NASDAQ:CYTK) from a hold rating to a sell rating in a research report report published on Thursday, ValuEngine reports.

A number of other research firms have also issued reports on CYTK. JMP Securities set a $23.00 target price on shares of Cytokinetics and gave the company a buy rating in a research note on Friday, September 13th. Morgan Stanley set a $16.00 target price on shares of Cytokinetics and gave the company a hold rating in a research note on Friday, August 9th. HC Wainwright reissued a buy rating and set a $26.00 target price on shares of Cytokinetics in a research note on Friday, October 4th. Zacks Investment Research raised shares of Cytokinetics from a sell rating to a hold rating in a research note on Monday, November 4th. Finally, Needham & Company LLC reissued a buy rating and set a $24.00 target price on shares of Cytokinetics in a research note on Friday, November 1st. They noted that the move was a valuation call. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and five have given a buy rating to the company. The stock has a consensus rating of Hold and an average target price of $19.86.

Cytokinetics stock traded up $0.21 during midday trading on Thursday, reaching $8.39. 929,300 shares of the stock traded hands, compared to its average volume of 544,073. The company has a current ratio of 8.20, a quick ratio of 8.20 and a debt-to-equity ratio of 12.35. The firm has a fifty day moving average price of $10.84 and a two-hundred day moving average price of $11.37. The firm has a market cap of $479.45 million, a price-to-earnings ratio of -4.30 and a beta of 1.54. Cytokinetics has a fifty-two week low of $5.75 and a fifty-two week high of $14.94.

Cytokinetics (NASDAQ:CYTK) last posted its earnings results on Thursday, October 31st. The biopharmaceutical company reported ($0.50) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.56) by $0.06. The firm had revenue of $6.06 million during the quarter, compared to analyst estimates of $7.80 million. Cytokinetics had a negative net margin of 378.70% and a negative return on equity of 10,351.99%. Analysts anticipate that Cytokinetics will post -2.02 earnings per share for the current year.

In other Cytokinetics news, CEO Robert I. Blum sold 6,000 shares of the business’s stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $11.16, for a total transaction of $66,960.00. Following the sale, the chief executive officer now directly owns 238,022 shares in the company, valued at approximately $2,656,325.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders have sold a total of 22,500 shares of company stock worth $244,215 over the last 90 days. 5.70% of the stock is owned by insiders.

Several hedge funds have recently added to or reduced their stakes in the business. SG Americas Securities LLC bought a new stake in shares of Cytokinetics during the 3rd quarter worth about $167,000. Comerica Bank raised its position in shares of Cytokinetics by 1.8% during the 3rd quarter. Comerica Bank now owns 54,769 shares of the biopharmaceutical company’s stock worth $608,000 after buying an additional 944 shares in the last quarter. California Public Employees Retirement System raised its position in shares of Cytokinetics by 16.5% during the 3rd quarter. California Public Employees Retirement System now owns 89,397 shares of the biopharmaceutical company’s stock worth $1,017,000 after buying an additional 12,667 shares in the last quarter. State of Tennessee Treasury Department raised its position in shares of Cytokinetics by 12.5% during the 3rd quarter. State of Tennessee Treasury Department now owns 41,532 shares of the biopharmaceutical company’s stock worth $473,000 after buying an additional 4,603 shares in the last quarter. Finally, Chicago Equity Partners LLC raised its position in shares of Cytokinetics by 173.1% during the 3rd quarter. Chicago Equity Partners LLC now owns 146,659 shares of the biopharmaceutical company’s stock worth $1,669,000 after buying an additional 92,965 shares in the last quarter. Institutional investors own 75.25% of the company’s stock.

Cytokinetics Company Profile

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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Analyst Recommendations for Cytokinetics (NASDAQ:CYTK)

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