Cytokinetics (CYTK) PT Set at $21.00 by HC Wainwright

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HC Wainwright set a $21.00 target price on Cytokinetics (NASDAQ:CYTK) in a report issued on Wednesday morning. The firm currently has a buy rating on the biopharmaceutical company’s stock.

Other research analysts have also issued research reports about the stock. ValuEngine upgraded shares of Cytokinetics from a hold rating to a buy rating in a report on Wednesday, October 3rd. Cantor Fitzgerald restated a buy rating and set a $14.00 price target on shares of Cytokinetics in a report on Wednesday, October 3rd. Finally, BidaskClub lowered shares of Cytokinetics from a strong-buy rating to a buy rating in a report on Tuesday, October 9th. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The stock has a consensus rating of Buy and an average target price of $12.83.

Cytokinetics stock opened at $7.40 on Wednesday. The company has a debt-to-equity ratio of 0.73, a quick ratio of 10.58 and a current ratio of 10.57. Cytokinetics has a 52-week low of $6.02 and a 52-week high of $10.26.

Cytokinetics (NASDAQ:CYTK) last released its quarterly earnings results on Thursday, November 1st. The biopharmaceutical company reported ($0.40) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.51) by $0.11. The firm had revenue of $10.64 million for the quarter, compared to the consensus estimate of $2.23 million. Sell-side analysts expect that Cytokinetics will post -1.96 EPS for the current year.

In other news, CEO Robert I. Blum sold 4,000 shares of Cytokinetics stock in a transaction on Monday, November 5th. The shares were sold at an average price of $7.11, for a total value of $28,440.00. Following the completion of the sale, the chief executive officer now owns 156,022 shares in the company, valued at approximately $1,109,316.42. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders sold a total of 16,500 shares of company stock valued at $128,400 in the last quarter. 5.10% of the stock is currently owned by company insiders.

Several large investors have recently added to or reduced their stakes in the company. BlackRock Inc. increased its stake in shares of Cytokinetics by 9.5% in the 3rd quarter. BlackRock Inc. now owns 8,698,387 shares of the biopharmaceutical company’s stock valued at $85,680,000 after acquiring an additional 754,593 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of Cytokinetics by 0.8% in the 3rd quarter. Vanguard Group Inc. now owns 3,443,358 shares of the biopharmaceutical company’s stock valued at $33,917,000 after acquiring an additional 27,868 shares in the last quarter. FMR LLC increased its stake in shares of Cytokinetics by 3.7% in the 3rd quarter. FMR LLC now owns 1,956,383 shares of the biopharmaceutical company’s stock valued at $19,271,000 after acquiring an additional 70,631 shares in the last quarter. Wasatch Advisors Inc. increased its stake in shares of 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 acquiring an additional 62,543 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its stake in shares of Cytokinetics by 5.4% in the 3rd quarter. Bank of New York Mellon Corp now owns 581,465 shares of the biopharmaceutical company’s stock valued at $5,727,000 after acquiring an additional 29,923 shares in the last quarter. Institutional investors own 70.47% of the company’s stock.

About Cytokinetics

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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