Cytokinetics (NASDAQ:CYTK) Receives Buy Rating from HC Wainwright

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

Several other research firms also recently weighed in on CYTK. Royal Bank of Canada lifted their price target on shares of Cytokinetics from $80.00 to $82.00 and gave the company an “outperform” rating in a research note on Wednesday, December 18th. Mizuho upped their price target on Cytokinetics from $99.00 to $103.00 and gave the stock an “outperform” rating in a research note on Thursday, November 21st. Needham & Company LLC reissued a “buy” rating and issued a $72.00 price objective on shares of Cytokinetics in a research note on Monday, December 2nd. Finally, Cantor Fitzgerald reiterated an “overweight” rating on shares of Cytokinetics in a report on Friday, October 18th. Three research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $83.64.

Cytokinetics Stock Down 2.4 %

Shares of Cytokinetics stock opened at $47.37 on Friday. The stock’s 50-day moving average is $50.53 and its 200 day moving average is $53.52. Cytokinetics has a one year low of $45.66 and a one year high of $108.61. The firm has a market cap of $5.59 billion, a price-to-earnings ratio of -8.80 and a beta of 0.82. The company has a debt-to-equity ratio of 5.93, a current ratio of 9.28 and a quick ratio of 9.28.

Cytokinetics (NASDAQ:CYTK) last posted its quarterly earnings results on Wednesday, November 6th. The biopharmaceutical company reported ($1.36) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.27) by ($0.09). The business had revenue of $0.46 million during the quarter, compared to analysts’ expectations of $1.21 million. The business’s quarterly revenue was up 22.5% on a year-over-year basis. During the same quarter last year, the firm earned ($1.35) EPS. Equities research analysts anticipate that Cytokinetics will post -5.25 EPS for the current year.

Insider Activity at Cytokinetics

In related news, Director Wendall Wierenga sold 742 shares of the business’s stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $48.61, for a total value of $36,068.62. Following the transaction, the director now directly owns 24,559 shares of the company’s stock, valued at approximately $1,193,812.99. The trade was a 2.93 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Fady Ibraham Malik sold 7,300 shares of the firm’s stock in a transaction dated Wednesday, October 30th. The stock was sold at an average price of $51.91, for a total transaction of $378,943.00. Following the sale, the executive vice president now owns 114,920 shares of the company’s stock, valued at $5,965,497.20. This trade represents a 5.97 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 57,516 shares of company stock valued at $3,004,383 over the last ninety days. Corporate insiders own 3.40% of the company’s stock.

Hedge Funds Weigh In On Cytokinetics

Several institutional investors and hedge funds have recently bought and sold shares of CYTK. Victory Capital Management Inc. grew its stake in shares of Cytokinetics by 10.2% during the 2nd quarter. Victory Capital Management Inc. now owns 37,039 shares of the biopharmaceutical company’s stock worth $2,007,000 after acquiring an additional 3,436 shares during the period. Quest Partners LLC purchased a new stake in Cytokinetics during the second quarter valued at about $398,000. Federated Hermes Inc. boosted its position in Cytokinetics by 204.6% during the second quarter. Federated Hermes Inc. now owns 26,098 shares of the biopharmaceutical company’s stock worth $1,414,000 after purchasing an additional 17,530 shares during the period. WINTON GROUP Ltd purchased a new position in shares of Cytokinetics in the second quarter worth about $983,000. Finally, Massachusetts Financial Services Co. MA bought a new stake in shares of Cytokinetics in the second quarter valued at approximately $14,957,000.

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.