Brokerages Set Cytokinetics Inc. (CYTK) Target Price at $18.33
Shares of Cytokinetics Inc. (NASDAQ:CYTK) have been given a consensus rating of “Buy” by the nine brokerages that are covering the stock. Two equities research analysts have rated the stock with a hold rating and seven have issued a buy rating on the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $18.33.
A number of analysts have recently weighed in on CYTK shares. Cowen and Company restated an “outperform” rating and issued a $16.00 price objective on shares of Cytokinetics in a research note on Wednesday, October 5th. Zacks Investment Research upgraded shares of Cytokinetics from a “hold” rating to a “buy” rating and set a $10.00 price objective for the company in a research note on Tuesday, September 27th. Roth Capital restated a “buy” rating and issued a $22.00 price objective on shares of Cytokinetics in a research note on Friday, October 21st. Finally, TheStreet upgraded shares of Cytokinetics from a “sell” rating to a “hold” rating in a research note on Friday, October 28th.
A number of large investors have recently made changes to their positions in the stock. Credit Suisse AG raised its stake in shares of Cytokinetics by 41.5% in the third quarter. Credit Suisse AG now owns 32,311 shares of the biopharmaceutical company’s stock valued at $297,000 after buying an additional 9,472 shares during the period. Panagora Asset Management Inc. raised its stake in shares of Cytokinetics by 22.8% in the third quarter. Panagora Asset Management Inc. now owns 94,338 shares of the biopharmaceutical company’s stock valued at $866,000 after buying an additional 17,533 shares during the period. Highbridge Capital Management LLC acquired a new stake in shares of Cytokinetics during the third quarter valued at about $543,000. D. E. Shaw & Co. Inc. raised its stake in shares of Cytokinetics by 2.1% in the third quarter. D. E. Shaw & Co. Inc. now owns 310,959 shares of the biopharmaceutical company’s stock valued at $2,855,000 after buying an additional 6,279 shares during the period. Finally, The Manufacturers Life Insurance Company acquired a new stake in shares of Cytokinetics during the third quarter valued at about $225,000. 64.53% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Cytokinetics (NASDAQ:CYTK) opened at 12.45 on Wednesday. Cytokinetics has a 12 month low of $6.00 and a 12 month high of $13.18. The company has a 50-day moving average of $9.98 and a 200 day moving average of $9.74. The company’s market capitalization is $504.42 million.
Cytokinetics Company Profile
Cytokinetics, Incorporated is a biopharmaceutical company. The Company is focused on the discovery and development of small molecule therapeutics that modulate muscle function for the treatment of serious diseases and medical conditions. Its drug candidates include tirasemtiv, CK-2127107 and omecamtiv mecarbil.
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