Needham & Company LLC cut shares of Cytokinetics, Incorporated (NASDAQ:CYTK) from a strong-buy rating to a buy rating in a research report sent to investors on Tuesday morning. They currently have $12.00 target price on the biopharmaceutical company’s stock, down from their previous target price of $22.00.

Several other research firms also recently issued reports on CYTK. HC Wainwright reiterated a buy rating and set a $26.00 price target on shares of Cytokinetics, in a research note on Friday, October 27th. ValuEngine upgraded Cytokinetics, from a sell rating to a hold rating in a research note on Friday, September 1st. Seaport Global Securities reiterated a buy rating and set a $24.00 price target on shares of Cytokinetics, in a research note on Friday, October 6th. Morgan Stanley reiterated an overweight rating and set a $25.00 price target (up previously from $24.00) on shares of Cytokinetics, in a research note on Friday, October 6th. Finally, Cantor Fitzgerald reiterated a buy rating and set a $21.00 price target on shares of Cytokinetics, in a research note on Monday, September 18th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and ten have issued a buy rating to the company. The company has an average rating of Buy and a consensus target price of $18.36.

Cytokinetics, (NASDAQ:CYTK) opened at $8.25 on Tuesday. The company has a quick ratio of 7.60, a current ratio of 7.60 and a debt-to-equity ratio of 0.14. Cytokinetics, has a 52 week low of $7.00 and a 52 week high of $17.20.

Cytokinetics, (NASDAQ:CYTK) last issued its earnings results on Thursday, October 26th. The biopharmaceutical company reported ($0.60) EPS for the quarter, beating analysts’ consensus estimates of ($0.64) by $0.04. Cytokinetics, had a negative return on equity of 62.64% and a negative net margin of 172.27%. The firm had revenue of $6.18 million for the quarter, compared to the consensus estimate of $5.35 million. research analysts anticipate that Cytokinetics, will post -2.4 EPS for the current year.

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In other news, EVP Fady Ibraham Malik sold 7,321 shares of the stock in a transaction that occurred on Wednesday, November 1st. The stock was sold at an average price of $13.39, for a total value of $98,028.19. Following the completion of the transaction, the executive vice president now directly owns 47,540 shares of the company’s stock, valued at approximately $636,560.60. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Caryn Gordon Mcdowell sold 4,260 shares of the stock in a transaction that occurred on Thursday, November 2nd. The stock was sold at an average price of $12.94, for a total value of $55,124.40. Following the completion of the transaction, the insider now directly owns 17,982 shares of the company’s stock, valued at $232,687.08. The disclosure for this sale can be found here. In the last ninety days, insiders sold 178,223 shares of company stock valued at $2,639,239. Insiders own 7.20% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of CYTK. Parametric Portfolio Associates LLC raised its holdings in shares of Cytokinetics, by 1.4% in the 1st 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. American International Group Inc. grew its position in Cytokinetics, by 7.1% during the 1st quarter. American International Group Inc. now owns 20,852 shares of the biopharmaceutical company’s stock worth $268,000 after acquiring an additional 1,380 shares during the last quarter. Teachers Advisors LLC grew its position in Cytokinetics, by 13.2% during the 1st quarter. Teachers Advisors LLC now owns 60,326 shares of the biopharmaceutical company’s stock worth $775,000 after acquiring an additional 7,048 shares during the last quarter. TIAA CREF Investment Management LLC grew its position in Cytokinetics, by 9.3% during the 1st quarter. TIAA CREF Investment Management LLC now owns 107,548 shares of the biopharmaceutical company’s stock worth $1,382,000 after acquiring an additional 9,162 shares during the last quarter. Finally, Vanguard Group Inc. grew its position in Cytokinetics, by 15.9% during the 1st quarter. Vanguard Group Inc. now owns 1,949,345 shares of the biopharmaceutical company’s stock worth $25,049,000 after acquiring an additional 267,437 shares during the last quarter. 71.92% of the stock is owned by institutional investors and hedge funds.

About Cytokinetics,

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.

Analyst Recommendations for Cytokinetics, (NASDAQ:CYTK)

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