Cytokinetics, Incorporated (CYTK) Given Average Recommendation of “Buy” by Analysts
Cytokinetics, Incorporated (NASDAQ:CYTK) has been given an average recommendation of “Buy” by the fourteen ratings firms that are presently covering the firm, MarketBeat.com reports. Three investment analysts have rated the stock with a hold recommendation, ten have given a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $22.13.
CYTK has been the subject of a number of research analyst reports. Zacks Investment Research cut Cytokinetics, from a “hold” rating to a “strong sell” rating in a report on Thursday, May 4th. HC Wainwright set a $26.00 price target on Cytokinetics, and gave the company a “buy” rating in a report on Thursday, August 3rd. ValuEngine raised Cytokinetics, from a “sell” rating to a “hold” rating in a report on Friday, June 2nd. BidaskClub raised Cytokinetics, from a “sell” rating to a “hold” rating in a report on Thursday, July 13th. Finally, Cowen and Company reaffirmed a “buy” rating and issued a $19.00 price target on shares of Cytokinetics, in a report on Friday, August 4th.
Shares of Cytokinetics, (NASDAQ:CYTK) traded up 2.599% on Wednesday, reaching $14.569. 286,214 shares of the company’s stock traded hands. The stock’s market capitalization is $781.86 million. Cytokinetics, has a 52 week low of $8.51 and a 52 week high of $17.20. The company has a 50 day moving average of $13.28 and a 200-day moving average of $13.17.
Cytokinetics, (NASDAQ:CYTK) last released its quarterly earnings results on Wednesday, August 2nd. The biopharmaceutical company reported ($0.60) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.57) by $0.03. Cytokinetics, had a negative net margin of 16.00% and a negative return on equity of 14.15%. The business had revenue of $3.05 million during the quarter, compared to the consensus estimate of $5.28 million. Equities research analysts forecast that Cytokinetics, will post ($2.46) earnings per share for the current year.
In other news, CEO Robert I. Blum sold 5,000 shares of the business’s stock in a transaction dated Tuesday, August 1st. The stock was sold at an average price of $13.79, for a total transaction of $68,950.00. Following the completion of the transaction, the chief executive officer now directly owns 84,785 shares in the company, valued at approximately $1,169,185.15. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Caryn Gordon Mcdowell sold 11,348 shares of the business’s stock in a transaction dated Tuesday, August 8th. The stock was sold at an average price of $12.47, for a total value of $141,509.56. Following the transaction, the insider now owns 21,570 shares of the company’s stock, valued at $268,977.90. The disclosure for this sale can be found here. Insiders have sold a total of 26,348 shares of company stock valued at $339,260 over the last 90 days. Corporate insiders own 7.20% of the company’s stock.
Several institutional investors have recently bought and sold shares of CYTK. Janus Henderson Group PLC bought a new position in Cytokinetics, during the second quarter valued at about $32,488,000. Vanguard Group Inc. raised its position in Cytokinetics, by 59.9% in the second quarter. Vanguard Group Inc. now owns 3,117,496 shares of the biopharmaceutical company’s stock valued at $37,721,000 after buying an additional 1,168,151 shares during the last quarter. State Street Corp raised its position in Cytokinetics, by 79.6% in the second quarter. State Street Corp now owns 1,674,335 shares of the biopharmaceutical company’s stock valued at $20,259,000 after buying an additional 741,909 shares during the last quarter. FMR LLC raised its position in Cytokinetics, by 8.8% in the first quarter. FMR LLC now owns 5,655,916 shares of the biopharmaceutical company’s stock valued at $72,679,000 after buying an additional 456,502 shares during the last quarter. Finally, Acadian Asset Management LLC raised its position in Cytokinetics, by 128.9% in the second quarter. Acadian Asset Management LLC now owns 766,263 shares of the biopharmaceutical company’s stock valued at $9,271,000 after buying an additional 431,457 shares during the last quarter. Institutional investors own 71.51% of the company’s stock.
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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