Cytokinetics’ (CYTK) “Market Outperform” Rating Reiterated at JMP Securities

Cytokinetics (NASDAQ:CYTK)‘s stock had its “market outperform” rating reaffirmed by equities researchers at JMP Securities in a research note issued on Friday,Benzinga reports. They presently have a $78.00 price target on the biopharmaceutical company’s stock. JMP Securities’ price objective indicates a potential upside of 78.64% from the company’s current price.

A number of other research analysts have also issued reports on the company. Needham & Company LLC reiterated a “buy” rating and issued a $72.00 price target on shares of Cytokinetics in a research report on Thursday. HC Wainwright reaffirmed a “buy” rating and set a $120.00 target price on shares of Cytokinetics in a report on Tuesday, January 21st. Cantor Fitzgerald reissued an “overweight” rating on shares of Cytokinetics in a research note on Friday, October 18th. Stifel Nicolaus began coverage on Cytokinetics in a research note on Wednesday, January 22nd. They set a “buy” rating and a $80.00 target price on the stock. Finally, Mizuho boosted their price objective on shares of Cytokinetics from $99.00 to $103.00 and gave the company an “outperform” rating in a research report on Thursday, November 21st. Two equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat.com, Cytokinetics has a consensus rating of “Moderate Buy” and an average target price of $83.00.

Cytokinetics Stock Down 5.4 %

CYTK stock traded down $2.51 during trading on Friday, reaching $43.66. The stock had a trading volume of 1,171,418 shares, compared to its average volume of 1,261,475. The firm has a fifty day moving average price of $48.50 and a 200 day moving average price of $52.51. The company has a current ratio of 9.28, a quick ratio of 9.28 and a debt-to-equity ratio of 5.93. The company has a market capitalization of $5.15 billion, a P/E ratio of -8.11 and a beta of 0.83. Cytokinetics has a 1-year low of $43.55 and a 1-year high of $81.36.

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

Insider Activity at Cytokinetics

In related news, Director Wendall Wierenga sold 742 shares of the firm’s stock in a transaction on Monday, December 16th. The stock was sold at an average price of $48.61, for a total transaction of $36,068.62. Following the completion of the transaction, the director now directly owns 24,559 shares of the company’s stock, valued at $1,193,812.99. This trade represents a 2.93 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Fady Ibraham Malik sold 6,342 shares of the stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $58.48, for a total transaction of $370,880.16. Following the sale, the executive vice president now owns 113,878 shares of the company’s stock, valued at approximately $6,659,585.44. This trade represents a 5.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 39,464 shares of company stock valued at $2,025,686. 3.40% of the stock is owned by corporate insiders.

Institutional Trading of Cytokinetics

Several hedge funds have recently modified their holdings of the stock. Charles Schwab Investment Management Inc. raised its stake in Cytokinetics by 42.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,321,391 shares of the biopharmaceutical company’s stock valued at $69,769,000 after acquiring an additional 395,709 shares during the period. Westfield Capital Management Co. LP grew its position in Cytokinetics by 38.9% during the third quarter. Westfield Capital Management Co. LP now owns 1,212,886 shares of the biopharmaceutical company’s stock worth $64,040,000 after buying an additional 339,373 shares in the last quarter. Checkpoint Capital L.P. raised its holdings in shares of Cytokinetics by 145.7% in the 3rd quarter. Checkpoint Capital L.P. now owns 466,813 shares of the biopharmaceutical company’s stock valued at $24,648,000 after acquiring an additional 276,813 shares in the last quarter. Two Sigma Advisers LP purchased a new position in shares of Cytokinetics during the 3rd quarter valued at about $11,336,000. Finally, Janus Henderson Group PLC lifted its position in Cytokinetics by 17.2% in the third quarter. Janus Henderson Group PLC now owns 1,143,830 shares of the biopharmaceutical company’s stock valued at $60,399,000 after purchasing an additional 167,501 shares during the last quarter.

About Cytokinetics

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.