Cytokinetics (NASDAQ:CYTK) was upgraded by equities research analysts at ValuEngine from a “hold” rating to a “buy” rating in a research note issued to investors on Thursday.

Several other research analysts have also weighed in on CYTK. BidaskClub lowered shares of Cytokinetics from a “hold” rating to a “sell” rating in a research note on Thursday, November 1st. Cantor Fitzgerald set a $14.00 price target on shares of Cytokinetics and gave the stock a “buy” rating in a research note on Friday, November 2nd. Zacks Investment Research upgraded shares of Cytokinetics from a “sell” rating to a “hold” rating and set a $8.00 price target on the stock in a research note on Friday, November 2nd. Finally, HC Wainwright set a $21.00 price target on shares of Cytokinetics and gave the stock a “buy” rating in a research note on Friday, November 2nd. One analyst has rated the stock with a sell rating, two have issued a hold rating and seven have issued a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $12.75.

Cytokinetics stock opened at $7.12 on Thursday. The company has a market capitalization of $416.81 million, a price-to-earnings ratio of -2.75 and a beta of 1.98. The company has a current ratio of 10.57, a quick ratio of 8.95 and a debt-to-equity ratio of 0.73. Cytokinetics has a twelve month low of $6.20 and a twelve month high of $12.73.

Cytokinetics (NASDAQ:CYTK) last released its quarterly earnings data on Thursday, November 1st. The biopharmaceutical company reported ($0.40) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.51) by $0.11. The company had revenue of $10.64 million during the quarter, compared to analyst estimates of $2.23 million. Equities research analysts forecast that Cytokinetics will post -1.96 earnings per share for the current year.

In other news, CEO Robert I. Blum sold 4,000 shares of the stock in a transaction on Wednesday, September 5th. The shares were sold at an average price of $7.94, for a total transaction of $31,760.00. Following the transaction, the chief executive officer now owns 164,022 shares in the company, valued at approximately $1,302,334.68. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In the last 90 days, insiders have sold 16,500 shares of company stock worth $131,090. 5.10% of the stock is currently owned by company insiders.

Several institutional investors and hedge funds have recently made changes to their positions in the company. FMR LLC increased its stake in shares of Cytokinetics by 3.7% during the 3rd quarter. FMR LLC now owns 1,956,383 shares of the biopharmaceutical company’s stock worth $19,271,000 after purchasing an additional 70,631 shares during the last quarter. BlackRock Inc. increased its stake in shares of Cytokinetics by 9.5% during the 3rd quarter. BlackRock Inc. now owns 8,698,387 shares of the biopharmaceutical company’s stock worth $85,680,000 after purchasing an additional 754,593 shares during the last quarter. Bank of New York Mellon Corp increased its stake in shares of Cytokinetics by 5.4% during the 3rd quarter. Bank of New York Mellon Corp now owns 581,465 shares of the biopharmaceutical company’s stock worth $5,727,000 after purchasing an additional 29,923 shares during the last quarter. Wasatch Advisors Inc. grew its stake in Cytokinetics by 3.4% in the 3rd quarter. Wasatch Advisors Inc. now owns 1,892,592 shares of the biopharmaceutical company’s stock valued at $18,642,000 after buying an additional 62,543 shares during the last quarter. Finally, Northern Trust Corp grew its stake in Cytokinetics by 16.7% in the 2nd quarter. Northern Trust Corp now owns 498,546 shares of the biopharmaceutical company’s stock valued at $4,138,000 after buying an additional 71,418 shares during the last quarter. Institutional investors own 68.39% of the company’s stock.

Cytokinetics Company Profile

Cytokinetics, Incorporated, a late-stage biopharmaceutical company, focuses on discovering, developing, and commercializing muscle activators as potential treatments for debilitating diseases in which muscle performance is compromised and/or declining. It is developing small molecule drug candidates primarily engineered to increase muscle function and contractility.

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Analyst Recommendations for Cytokinetics (NASDAQ:CYTK)

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