Cytokinetics (NASDAQ:CYTK) Earns “Overweight” Rating from Cantor Fitzgerald

Cytokinetics (NASDAQ:CYTK)‘s stock had its “overweight” rating reaffirmed by investment analysts at Cantor Fitzgerald in a report released on Friday, Benzinga reports.

Other research analysts have also recently issued research reports about the stock. JMP Securities restated a “market outperform” rating and issued a $78.00 price objective on shares of Cytokinetics in a report on Wednesday, September 4th. Needham & Company LLC restated a “buy” rating and issued a $72.00 price objective on shares of Cytokinetics in a report on Thursday. HC Wainwright reiterated a “buy” rating and set a $120.00 price target on shares of Cytokinetics in a report on Thursday. JPMorgan Chase & Co. boosted their price target on shares of Cytokinetics from $65.00 to $71.00 and gave the stock an “overweight” rating in a report on Thursday, September 5th. Finally, The Goldman Sachs Group cut shares of Cytokinetics from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $85.00 to $60.00 in a report on Tuesday, August 13th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, Cytokinetics presently has a consensus rating of “Moderate Buy” and an average price target of $83.93.

Cytokinetics Price Performance

Cytokinetics stock opened at $54.53 on Friday. The company has a debt-to-equity ratio of 5.93, a quick ratio of 10.39 and a current ratio of 10.39. The company has a market capitalization of $5.72 billion, a price-to-earnings ratio of -10.10 and a beta of 0.77. The company’s 50 day simple moving average is $55.14 and its 200-day simple moving average is $57.58. Cytokinetics has a 1 year low of $30.37 and a 1 year high of $110.25.

Cytokinetics (NASDAQ:CYTK) last announced its quarterly earnings data on Thursday, August 8th. The biopharmaceutical company reported ($1.31) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.06) by ($0.25). The company had revenue of $0.25 million for the quarter, compared to analysts’ expectations of $7.61 million. The business’s quarterly revenue was down 71.3% on a year-over-year basis. During the same period in the prior year, the business earned ($1.34) EPS. As a group, equities research analysts expect that Cytokinetics will post -5.15 earnings per share for the current year.

Insider Activity

In other news, EVP Fady Ibraham Malik sold 7,300 shares of the company’s stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $52.10, for a total value of $380,330.00. Following the completion of the transaction, the executive vice president now owns 118,920 shares in the company, valued at approximately $6,195,732. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. In related news, EVP Fady Ibraham Malik sold 7,300 shares of the company’s stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $52.10, for a total value of $380,330.00. Following the completion of the sale, the executive vice president now owns 118,920 shares in the company, valued at $6,195,732. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director B Lynne Parshall sold 5,000 shares of the company’s stock in a transaction on Monday, July 29th. The shares were sold at an average price of $59.84, for a total transaction of $299,200.00. Following the completion of the sale, the director now owns 20,600 shares of the company’s stock, valued at approximately $1,232,704. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 84,584 shares of company stock worth $4,722,898. Corporate insiders own 3.40% of the company’s stock.

Institutional Trading of Cytokinetics

Several institutional investors and hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. raised its position in Cytokinetics by 2.5% in the 4th quarter. Vanguard Group Inc. now owns 11,016,889 shares of the biopharmaceutical company’s stock valued at $919,800,000 after purchasing an additional 273,565 shares during the last quarter. Darwin Global Management Ltd. purchased a new position in Cytokinetics during the 2nd quarter worth $246,074,000. Integral Health Asset Management LLC raised its position in Cytokinetics by 122.2% during the 2nd quarter. Integral Health Asset Management LLC now owns 1,000,000 shares of the biopharmaceutical company’s stock worth $54,180,000 after buying an additional 550,000 shares during the last quarter. Hood River Capital Management LLC raised its position in Cytokinetics by 5.9% during the 2nd quarter. Hood River Capital Management LLC now owns 737,637 shares of the biopharmaceutical company’s stock worth $39,965,000 after buying an additional 40,990 shares during the last quarter. Finally, Westfield Capital Management Co. LP purchased a new position in Cytokinetics during the 1st quarter worth $51,277,000.

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.