Cytokinetics, Incorporated (NASDAQ:CYTK)‘s stock had its “buy” rating reiterated by stock analysts at Seaport Global Securities in a research note issued on Friday, October 6th, Marketbeat reports. They currently have a $24.00 target price on the biopharmaceutical company’s stock. Seaport Global Securities’ price objective would indicate a potential upside of 55.84% from the stock’s previous close.
Several other analysts also recently commented on CYTK. Cowen and Company restated a “buy” rating and set a $19.00 price objective on shares of Cytokinetics, in a research report on Friday, August 4th. HC Wainwright set a $26.00 price target on shares of Cytokinetics, and gave the company a “buy” rating in a report on Thursday, August 3rd. Cantor Fitzgerald reiterated a “buy” rating and issued a $21.00 price target on shares of Cytokinetics, in a report on Tuesday, September 26th. Zacks Investment Research upgraded shares of Cytokinetics, from a “hold” rating to a “buy” rating and set a $15.00 price target on the stock in a report on Monday, August 7th. Finally, BidaskClub upgraded shares of Cytokinetics, from a “sell” rating to a “hold” rating in a report on Thursday, July 13th. Three research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Cytokinetics, currently has a consensus rating of “Buy” and a consensus target price of $21.64.
Shares of Cytokinetics, (NASDAQ:CYTK) opened at 15.40 on Friday. The firm has a 50 day moving average price of $14.65 and a 200-day moving average price of $13.88. The firm’s market cap is $826.46 million. Cytokinetics, has a one year low of $8.77 and a one year high of $17.20.
Cytokinetics, (NASDAQ:CYTK) last announced its quarterly earnings data on Wednesday, August 2nd. The biopharmaceutical company reported ($0.60) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.57) by ($0.03). The firm had revenue of $3.05 million for the quarter, compared to the consensus estimate of $5.28 million. Cytokinetics, had a negative net margin of 16.00% and a negative return on equity of 14.15%. Analysts forecast that Cytokinetics, will post ($2.51) earnings per share for the current year.
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In other news, SVP Bradley Paul Morgan sold 118,330 shares of the company’s stock in a transaction on Thursday, August 31st. The shares were sold at an average price of $15.00, for a total value of $1,774,950.00. Following the sale, the senior vice president now directly owns 63,107 shares of the company’s stock, valued at approximately $946,605. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Robert I. Blum sold 5,000 shares of the company’s stock in a transaction on Tuesday, August 1st. The shares were sold at an average price of $13.79, for a total transaction of $68,950.00. Following the completion of the sale, the chief executive officer now directly owns 84,785 shares in the company, valued at $1,169,185.15. The disclosure for this sale can be found here. Insiders sold a total of 177,990 shares of company stock worth $2,628,996 over the last ninety days. Insiders own 7.20% of the company’s stock.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Prudential Financial Inc. purchased a new stake in Cytokinetics, during the second quarter worth $913,000. Fox Run Management L.L.C. purchased a new stake in Cytokinetics, during the second quarter worth $436,000. Russell Investments Group Ltd. boosted its holdings in Cytokinetics, by 56.2% during the second quarter. Russell Investments Group Ltd. now owns 259,833 shares of the biopharmaceutical company’s stock worth $3,144,000 after buying an additional 93,504 shares in the last quarter. Gotham Asset Management LLC purchased a new stake in Cytokinetics, during the first quarter worth $641,000. Finally, Dupont Capital Management Corp purchased a new stake in Cytokinetics, during the second quarter worth $278,000. 71.50% of the stock is currently owned by hedge funds and other institutional investors.
Cytokinetics, Company Profile
Cytokinetics, Incorporated is a late-stage biopharmaceutical company. The Company is focused on discovering, developing and commercializing first-in-class muscle activators as potential treatments for debilitating diseases in which muscle performance is compromised and/or declining. It is focused on the discovery and development of small molecule therapeutics that modulate muscle function for the treatment of serious diseases and medical conditions.
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