Cytokinetics, Incorporated (CYTK) Receives Consensus Rating of “Buy” from Brokerages
Cytokinetics, Incorporated (NASDAQ:CYTK) has been assigned an average recommendation of “Buy” from the fourteen research firms that are currently covering the stock, Marketbeat Ratings reports. Two analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating on the company. The average 12 month price objective among brokers that have covered the stock in the last year is $21.33.
Several equities research analysts recently weighed in on CYTK shares. HC Wainwright reaffirmed a “buy” rating and set a $25.00 price target on shares of Cytokinetics, in a report on Tuesday, April 25th. Zacks Investment Research downgraded Cytokinetics, from a “hold” rating to a “strong sell” rating in a report on Thursday, May 4th. Cowen and Company reaffirmed an “outperform” rating and set a $19.00 price target (up from $17.00) on shares of Cytokinetics, in a report on Saturday, April 29th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Cytokinetics, in a report on Friday, May 19th. Finally, ValuEngine raised Cytokinetics, from a “sell” rating to a “hold” rating in a report on Friday, June 2nd.
Cytokinetics, (CYTK) opened at 12.50 on Tuesday. Cytokinetics, has a 52-week low of $8.51 and a 52-week high of $17.20. The firm has a 50 day moving average of $13.67 and a 200-day moving average of $12.97. The stock’s market cap is $602.71 million.
Cytokinetics, (NASDAQ:CYTK) last posted its quarterly earnings data on Wednesday, August 2nd. The biopharmaceutical company reported ($0.60) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.57) by $0.03. The firm had revenue of $3.05 million during the quarter, compared to analyst estimates of $5.28 million. Cytokinetics, had a negative net margin of 16.00% and a negative return on equity of 14.15%. Equities analysts anticipate that Cytokinetics, will post ($2.08) earnings per share for the current fiscal year.
In other news, CEO Robert I. Blum sold 5,000 shares of the firm’s stock in a transaction on Thursday, June 1st. The stock was sold at an average price of $13.62, for a total value of $68,100.00. Following the completion of the transaction, the chief executive officer now owns 94,785 shares in the company, valued at $1,290,971.70. The sale was disclosed in a document filed with the SEC, which is available at this link. In the last 90 days, insiders sold 15,000 shares of company stock valued at $197,750. Company insiders own 7.20% of the company’s stock.
Hedge funds have recently bought and sold shares of the company. Nine Chapters Capital Management LLC bought a new stake in Cytokinetics, during the first quarter worth approximately $265,000. Parametric Portfolio Associates LLC boosted its stake in Cytokinetics, by 1.4% in the first quarter. Parametric Portfolio Associates LLC now owns 13,333 shares of the biopharmaceutical company’s stock worth $171,000 after buying an additional 189 shares in the last quarter. TFS Capital LLC bought a new stake in Cytokinetics, during the first quarter worth approximately $1,233,000. Capital Fund Management S.A. bought a new stake in Cytokinetics, during the first quarter worth approximately $213,000. Finally, Wells Fargo & Company MN boosted its stake in Cytokinetics, by 46.9% in the first quarter. Wells Fargo & Company MN now owns 39,308 shares of the biopharmaceutical company’s stock worth $505,000 after buying an additional 12,542 shares in the last quarter. Hedge funds and other institutional investors own 59.76% of the company’s stock.
Cytokinetics, Company Profile
Cytokinetics, Incorporated is a late-stage biopharmaceutical company. The Company is focused on discovering, developing and commercializing first-in-class muscle activators as potential treatments for debilitating diseases in which muscle performance is compromised and/or declining. It is focused on the discovery and development of small molecule therapeutics that modulate muscle function for the treatment of serious diseases and medical conditions.
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