Cytokinetics, Incorporated (CYTK) Upgraded at ValuEngine
Cytokinetics, Incorporated (NASDAQ:CYTK) was upgraded by research analysts at ValuEngine from a “sell” rating to a “hold” rating in a research note issued to investors on Friday.
A number of other brokerages have also recently commented on CYTK. Zacks Investment Research cut Cytokinetics, from a “hold” rating to a “strong sell” rating in a research note on Thursday, May 4th. HC Wainwright set a $26.00 price objective on Cytokinetics, and gave the stock a “buy” rating in a research note on Thursday, August 3rd. BidaskClub upgraded Cytokinetics, from a “sell” rating to a “hold” rating in a research note on Thursday, July 13th. Cowen and Company restated a “buy” rating and set a $19.00 price objective on shares of Cytokinetics, in a research note on Friday, August 4th. Finally, Cantor Fitzgerald restated an “overweight” rating on shares of Cytokinetics, in a research note on Friday, May 19th. Three investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $21.30.
Cytokinetics, (CYTK) traded down 0.67% during trading on Friday, reaching $14.75. The company’s stock had a trading volume of 307,289 shares. 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 price of $13.45 and a 200-day moving average price of $13.28. The company’s market capitalization is $791.57 million.
Cytokinetics, (NASDAQ:CYTK) last issued its quarterly earnings data on Wednesday, August 2nd. The biopharmaceutical company reported ($0.60) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.57) by $0.03. The company had revenue of $3.05 million for the quarter, compared to analyst estimates of $5.28 million. Cytokinetics, had a negative return on equity of 14.15% and a negative net margin of 16.00%. Equities research analysts anticipate that Cytokinetics, will post ($2.46) earnings per share for the current year.
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In related news, 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 in the company, valued at $268,977.90. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Robert I. Blum sold 5,000 shares of the business’s stock in a transaction dated Friday, September 1st. The stock was sold at an average price of $14.71, for a total value of $73,550.00. Following the completion of the transaction, the chief executive officer now owns 79,785 shares in the company, valued at approximately $1,173,637.35. The disclosure for this sale can be found here. In the last quarter, insiders sold 154,678 shares of company stock worth $2,264,660. Insiders own 7.20% of the company’s stock.
Hedge funds have recently made changes to their positions in the stock. State of Alaska Department of Revenue purchased a new stake in shares of Cytokinetics, during the second quarter valued at $109,000. Municipal Employees Retirement System of Michigan purchased a new stake in shares of Cytokinetics, during the second quarter valued at $132,000. LMR Partners LLP purchased a new stake in shares of Cytokinetics, during the first quarter valued at $156,000. Bank of America Corp DE raised its stake in shares of Cytokinetics, by 36.8% in the first quarter. Bank of America Corp DE now owns 12,571 shares of the biopharmaceutical company’s stock valued at $162,000 after buying an additional 3,383 shares in the last quarter. Finally, BNP Paribas Arbitrage SA raised its stake in shares of Cytokinetics, by 4,464.4% in the second quarter. BNP Paribas Arbitrage SA now owns 13,328 shares of the biopharmaceutical company’s stock valued at $161,000 after buying an additional 13,036 shares in the last quarter. 71.51% of the stock is owned by hedge funds and other institutional investors.
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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