Cytokinetics (NASDAQ:CYTK) Price Target Lowered to $95.00 at Barclays

Cytokinetics (NASDAQ:CYTK) had its price target lowered by Barclays from $100.00 to $95.00 in a report published on Thursday, Benzinga reports. The brokerage currently has an overweight rating on the biopharmaceutical company’s stock.

CYTK has been the topic of a number of other reports. JMP Securities reduced their price target on shares of Cytokinetics from $110.00 to $106.00 and set a market outperform rating on the stock in a research report on Thursday, May 9th. Mizuho decreased their target price on Cytokinetics from $103.00 to $99.00 and set a buy rating for the company in a research note on Wednesday, March 6th. Oppenheimer dropped their price target on Cytokinetics from $107.00 to $106.00 and set an outperform rating on the stock in a research report on Thursday, May 9th. Needham & Company LLC decreased their price objective on Cytokinetics from $108.00 to $72.00 and set a buy rating for the company in a research report on Thursday. Finally, UBS Group downgraded shares of Cytokinetics from a buy rating to a neutral rating and raised their target price for the stock from $61.00 to $92.00 in a report on Wednesday, January 24th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of Moderate Buy and a consensus price target of $77.47.

Cytokinetics Trading Down 1.4 %

NASDAQ:CYTK opened at $48.30 on Thursday. Cytokinetics has a 1-year low of $25.98 and a 1-year high of $110.25. The firm has a market capitalization of $5.06 billion, a price-to-earnings ratio of -8.94 and a beta of 0.72. The business’s 50-day moving average price is $65.80 and its two-hundred day moving average price is $63.94.

Cytokinetics (NASDAQ:CYTK) last announced its quarterly earnings results 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 firm had revenue of $0.84 million during the quarter, compared to the consensus estimate of $0.91 million. During the same period in the previous year, the business posted ($1.38) earnings per share. Cytokinetics’s revenue was down 81.8% compared to the same quarter last year. Sell-side analysts predict that Cytokinetics will post -4.55 earnings per share for the current year.

Insider Transactions at Cytokinetics

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

Hedge Funds Weigh In On Cytokinetics

Hedge funds and other institutional investors have recently bought and sold shares of the business. Cetera Advisors LLC bought a new stake in Cytokinetics in the first quarter valued at approximately $531,000. Zimmer Partners LP bought a new stake in Cytokinetics in the 1st quarter valued at $2,706,000. Comerica Bank lifted its holdings in Cytokinetics by 185.4% during the 1st quarter. Comerica Bank now owns 130,806 shares of the biopharmaceutical company’s stock valued at $9,171,000 after purchasing an additional 84,967 shares during the last quarter. Castleark Management LLC bought a new position in Cytokinetics during the first quarter worth $1,471,000. Finally, Murchinson Ltd. increased its holdings in shares of Cytokinetics by 56.7% in the first quarter. Murchinson Ltd. now owns 108,795 shares of the biopharmaceutical company’s stock valued at $7,628,000 after purchasing an additional 39,356 shares during 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.