Cytokinetics, Incorporated (NASDAQ:CYTK) Receives Average Recommendation of “Moderate Buy” from Analysts

Cytokinetics, Incorporated (NASDAQ:CYTK) has been assigned a consensus rating of “Moderate Buy” from the eighteen research firms that are currently covering the firm, Marketbeat reports. Three research analysts have rated the stock with a hold rating and fifteen have issued a buy rating on the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $77.06.

A number of equities research analysts recently commented on the stock. Truist Financial lowered their price target on shares of Cytokinetics from $86.00 to $70.00 and set a “buy” rating on the stock in a report on Wednesday, May 29th. JPMorgan Chase & Co. dropped their price target on Cytokinetics from $77.00 to $65.00 and set an “overweight” rating on the stock in a research report on Monday, June 24th. B. Riley decreased their price objective on Cytokinetics from $122.00 to $92.00 and set a “buy” rating for the company in a report on Tuesday, June 4th. Raymond James lowered their price objective on Cytokinetics from $92.00 to $70.00 and set an “outperform” rating on the stock in a research note on Thursday, May 23rd. Finally, Oppenheimer cut their target price on shares of Cytokinetics from $107.00 to $106.00 and set an “outperform” rating for the company in a research report on Thursday, May 9th.

Insider Buying and Selling at Cytokinetics

In other Cytokinetics news, CAO Robert Wong sold 13,011 shares of Cytokinetics stock in a transaction that occurred on Monday, June 3rd. The shares were sold at an average price of $48.88, for a total transaction of $635,977.68. Following the completion of the sale, the chief accounting officer now directly owns 16,653 shares in the company, valued at $813,998.64. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, CAO Robert Wong sold 13,011 shares of the stock in a transaction on Monday, June 3rd. The stock was sold at an average price of $48.88, for a total value of $635,977.68. Following the transaction, the chief accounting officer now owns 16,653 shares of the company’s stock, valued at $813,998.64. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Robert Arthur Harrington sold 1,580 shares of Cytokinetics stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $48.64, for a total value of $76,851.20. Following the sale, the director now directly owns 15,541 shares of the company’s stock, valued at approximately $755,914.24. The disclosure for this sale can be found here. Insiders have sold a total of 143,341 shares of company stock valued at $7,800,408 in the last 90 days. Corporate insiders own 3.40% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of CYTK. Assenagon Asset Management S.A. bought a new stake in shares of Cytokinetics in the 4th quarter valued at about $46,308,000. Vanguard Group Inc. increased its stake in Cytokinetics by 4.6% in the 3rd quarter. Vanguard Group Inc. now owns 10,743,324 shares of the biopharmaceutical company’s stock worth $316,498,000 after purchasing an additional 472,595 shares during the period. HealthInvest Partners AB bought a new stake in Cytokinetics in the fourth quarter valued at approximately $980,000. Legato Capital Management LLC bought a new position in shares of Cytokinetics in the fourth quarter worth approximately $1,305,000. Finally, Vestal Point Capital LP purchased a new position in shares of Cytokinetics in the fourth quarter worth $4,174,000.

Cytokinetics Price Performance

Shares of Cytokinetics stock opened at $57.39 on Thursday. The firm has a market cap of $6.02 billion, a PE ratio of -10.63 and a beta of 0.75. Cytokinetics has a 1 year low of $25.98 and a 1 year high of $110.25. The stock has a fifty day moving average price of $54.75 and a 200-day moving average price of $67.82.

Cytokinetics (NASDAQ:CYTK) last posted its quarterly earnings data on Wednesday, May 8th. The biopharmaceutical company reported ($1.33) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.16) by ($0.17). The company had revenue of $0.84 million for the quarter, compared to analyst estimates of $0.91 million. The business’s revenue was down 81.8% compared to the same quarter last year. During the same period in the previous year, the business earned ($1.38) EPS. As a group, equities analysts anticipate that Cytokinetics will post -4.5 EPS for the current fiscal year.

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.