Cytokinetics (NASDAQ:CYTK) PT Lowered to $90.00

Cytokinetics (NASDAQ:CYTK) had its target price lowered by HC Wainwright from $94.00 to $90.00 in a report issued on Thursday, Benzinga reports. The firm currently has a buy rating on the biopharmaceutical company’s stock.

Several other brokerages have also recently commented on CYTK. Oppenheimer reduced their price objective on shares of Cytokinetics from $107.00 to $106.00 and set an outperform rating for the company in a research note on Thursday, May 9th. Raymond James cut their price objective on Cytokinetics from $92.00 to $70.00 and set an outperform rating for the company in a research report on Thursday. Mizuho lowered their target price on Cytokinetics from $103.00 to $99.00 and set a buy rating on the stock in a report on Wednesday, March 6th. UBS Group downgraded shares of Cytokinetics from a buy rating to a neutral rating and boosted their target price for the company from $61.00 to $92.00 in a research note on Wednesday, January 24th. Finally, Barclays decreased their price target on shares of Cytokinetics from $100.00 to $95.00 and set an overweight rating on the stock in a research note on Thursday. One analyst has rated the stock with a sell rating, three have issued a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of Moderate Buy and a consensus target price of $77.47.

Cytokinetics Trading Down 1.4 %

Shares of CYTK stock opened at $48.30 on Thursday. The business’s 50 day moving average is $65.80 and its two-hundred day moving average is $63.94. Cytokinetics has a twelve month low of $25.98 and a twelve month high of $110.25. The company has a market capitalization of $5.06 billion, a P/E ratio of -8.94 and a beta of 0.72.

Cytokinetics (NASDAQ:CYTK) last announced its quarterly earnings data on Wednesday, May 8th. The biopharmaceutical company reported ($1.33) EPS for the quarter, missing analysts’ consensus estimates of ($1.16) by ($0.17). The business had revenue of $0.84 million for the quarter, compared to the consensus estimate of $0.91 million. During the same period in the prior year, the firm posted ($1.38) EPS. The business’s revenue was down 81.8% compared to the same quarter last year. As a group, equities analysts predict that Cytokinetics will post -4.55 earnings per share for the current fiscal year.

Insider Transactions at Cytokinetics

In related news, EVP Fady Ibraham Malik sold 32,605 shares of Cytokinetics stock in a transaction on Tuesday, April 9th. The shares were sold at an average price of $74.31, for a total transaction of $2,422,877.55. Following the transaction, the executive vice president now owns 138,567 shares in the company, valued at approximately $10,296,913.77. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Cytokinetics news, Director John T. Henderson sold 10,562 shares of the company’s stock in a transaction that occurred on Thursday, April 25th. The stock was sold at an average price of $64.54, for a total value of $681,671.48. Following the completion of the transaction, the director now owns 32,070 shares in the company, valued at approximately $2,069,797.80. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Fady Ibraham Malik sold 32,605 shares of Cytokinetics stock in a transaction that occurred on Tuesday, April 9th. The shares were sold at an average price of $74.31, for a total transaction of $2,422,877.55. Following the sale, the executive vice president now owns 138,567 shares in the company, valued at approximately $10,296,913.77. The disclosure for this sale can be found here. Insiders sold 91,318 shares of company stock valued at $6,319,540 over the last 90 days. Corporate insiders own 3.40% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in CYTK. Teacher Retirement System of Texas lifted its holdings in Cytokinetics by 4.8% in the 3rd quarter. Teacher Retirement System of Texas now owns 25,809 shares of the biopharmaceutical company’s stock worth $760,000 after buying an additional 1,175 shares in the last quarter. California Public Employees Retirement System increased its holdings in Cytokinetics by 6.5% during the 3rd quarter. California Public Employees Retirement System now owns 135,721 shares of the biopharmaceutical company’s stock worth $3,998,000 after purchasing an additional 8,320 shares during the last quarter. Victory Capital Management Inc. raised its position in shares of Cytokinetics by 6.9% in the 3rd quarter. Victory Capital Management Inc. now owns 16,806 shares of the biopharmaceutical company’s stock valued at $495,000 after purchasing an additional 1,091 shares in the last quarter. Arizona State Retirement System boosted its stake in shares of Cytokinetics by 1.4% during the 3rd quarter. Arizona State Retirement System now owns 25,870 shares of the biopharmaceutical company’s stock valued at $762,000 after buying an additional 363 shares during the last quarter. Finally, Jump Financial LLC grew its position in shares of Cytokinetics by 16.4% during the third quarter. Jump Financial LLC now owns 13,085 shares of the biopharmaceutical company’s stock worth $385,000 after buying an additional 1,845 shares in the last quarter.

Cytokinetics Company Profile

Cytokinetics, Incorporated, a late-stage biopharmaceutical company, focuses on discovering, developing, and commercializing muscle activators and inhibitors as potential treatments for debilitating diseases. The company develops small molecule drug candidates primarily engineered to impact muscle function and contractility.