Cytokinetics,’s (CYTK) Buy Rating Reiterated at Cantor Fitzgerald
Cytokinetics, Incorporated (NASDAQ:CYTK)‘s stock had its “buy” rating reiterated by investment analysts at Cantor Fitzgerald in a research report issued to clients and investors on Monday. They presently have a $21.00 price objective on the biopharmaceutical company’s stock. Cantor Fitzgerald’s price target suggests a potential upside of 48.41% from the company’s current price.
The analysts wrote, “A secondary analysis of the expansion phase of the Phase II COSMIC-HF study showed consistent results for omecamtiv mecarbil among patients with either ischemic or non-ischemic heart failure (64% and 36% of the trial population, respectively).””
Several other equities analysts have also recently issued reports on CYTK. Zacks Investment Research upgraded shares of Cytokinetics, from a “hold” rating to a “buy” rating and set a $14.00 target price for the company in a research note on Tuesday, July 11th. ValuEngine raised shares of Cytokinetics, from a “sell” rating to a “hold” rating in a report on Friday, September 1st. HC Wainwright set a $26.00 target price on shares of Cytokinetics, and gave the stock a “buy” rating in a report on Thursday, August 3rd. BidaskClub raised shares of 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 set a $19.00 target price on shares of Cytokinetics, in a report on Friday, August 4th. Three research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $21.30.
Cytokinetics, (NASDAQ:CYTK) opened at 14.15 on Monday. Cytokinetics, has a 12 month low of $8.51 and a 12 month high of $17.20. The company’s 50-day moving average is $13.51 and its 200-day moving average is $13.50. The company’s market cap is $759.37 million.
Cytokinetics, (NASDAQ:CYTK) last announced its quarterly earnings data on Wednesday, August 2nd. The biopharmaceutical company reported ($0.60) EPS for the quarter, missing the 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 for the quarter, compared to analyst estimates of $5.28 million. On average, equities research analysts expect that Cytokinetics, will post ($2.46) EPS for the current fiscal year.
In other news, CEO Robert I. Blum sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, July 3rd. The shares were sold at an average price of $12.14, for a total transaction of $60,700.00. Following the transaction, the chief executive officer now directly owns 88,385 shares in the company, valued at $1,072,993.90. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Caryn Gordon Mcdowell sold 11,348 shares of the firm’s stock in a transaction that occurred on Tuesday, August 8th. The stock was sold at an average price of $12.47, for a total transaction of $141,509.56. Following the transaction, the insider now owns 21,570 shares in the company, valued at $268,977.90. The disclosure for this sale can be found here. Insiders sold 164,809 shares of company stock worth $2,412,572 over the last quarter. 7.20% of the stock is currently owned by insiders.
Institutional investors and hedge funds have recently made changes to their positions in the company. Teachers Advisors LLC lifted its holdings in shares of Cytokinetics, by 4.0% during the fourth quarter. Teachers Advisors LLC now owns 53,278 shares of the biopharmaceutical company’s stock worth $647,000 after purchasing an additional 2,025 shares during the period. Russell Investments Group Ltd. purchased a new stake in Cytokinetics, during the 1st quarter worth about $2,137,000. Wells Fargo & Company MN increased its position in Cytokinetics, by 46.9% during the 1st quarter. Wells Fargo & Company MN now owns 39,308 shares of the biopharmaceutical company’s stock worth $505,000 after purchasing an additional 12,542 shares in the last quarter. Capital Fund Management S.A. purchased a new stake in Cytokinetics, during the 1st quarter worth about $213,000. Finally, Parametric Portfolio Associates LLC increased its position in Cytokinetics, by 1.4% during the 1st quarter. Parametric Portfolio Associates LLC now owns 13,333 shares of the biopharmaceutical company’s stock worth $171,000 after purchasing an additional 189 shares in the last quarter. Institutional investors and hedge funds 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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