Cytokinetics, Inc. (CYTK) Receives $15.63 Average PT from Analysts

Shares of Cytokinetics, Inc. (NASDAQ:CYTK) have received an average recommendation of “Buy” from the twelve brokerages that are currently covering the company, MarketBeat reports. Four investment analysts have rated the stock with a hold recommendation and seven have given a buy recommendation to the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $15.63.

Several brokerages recently commented on CYTK. Piper Jaffray Companies cut their price objective on Cytokinetics to $13.00 and set an “overweight” rating for the company in a report on Monday, June 18th. HC Wainwright lifted their price objective on Cytokinetics to $24.00 and gave the stock a “buy” rating in a report on Monday, June 18th. Cantor Fitzgerald reaffirmed a “hold” rating and issued a $10.00 price objective on shares of Cytokinetics in a report on Sunday, June 17th. BidaskClub raised Cytokinetics from a “hold” rating to a “buy” rating in a report on Saturday, July 7th. Finally, Zacks Investment Research raised Cytokinetics from a “hold” rating to a “buy” rating and set a $10.00 price objective for the company in a report on Saturday, July 14th.

In related news, CEO Robert I. Blum sold 4,000 shares of Cytokinetics stock in a transaction on Thursday, July 5th. The stock was sold at an average price of $9.09, for a total transaction of $36,360.00. Following the transaction, the chief executive officer now directly owns 172,022 shares in the company, valued at $1,563,679.98. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Fady Ibraham Malik sold 3,000 shares of Cytokinetics stock in a transaction on Thursday, June 7th. The shares were sold at an average price of $8.95, for a total value of $26,850.00. Following the transaction, the executive vice president now owns 96,067 shares in the company, valued at $859,799.65. The disclosure for this sale can be found here. Insiders have sold 16,500 shares of company stock worth $143,425 over the last quarter. 5.10% of the stock is owned by company insiders.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Geode Capital Management LLC lifted its position in Cytokinetics by 1.6% during the fourth quarter. Geode Capital Management LLC now owns 428,548 shares of the biopharmaceutical company’s stock valued at $3,492,000 after purchasing an additional 6,813 shares in the last quarter. Swiss National Bank lifted its position in shares of Cytokinetics by 13.7% in the first quarter. Swiss National Bank now owns 74,100 shares of the biopharmaceutical company’s stock valued at $534,000 after acquiring an additional 8,900 shares in the last quarter. Principal Financial Group Inc. lifted its position in shares of Cytokinetics by 2.5% in the first quarter. Principal Financial Group Inc. now owns 397,603 shares of the biopharmaceutical company’s stock valued at $2,863,000 after acquiring an additional 9,786 shares in the last quarter. Virginia Retirement Systems ET AL lifted its position in shares of Cytokinetics by 13.2% in the first quarter. Virginia Retirement Systems ET AL now owns 84,800 shares of the biopharmaceutical company’s stock valued at $611,000 after acquiring an additional 9,900 shares in the last quarter. Finally, Pinnacle Associates Ltd. lifted its position in shares of Cytokinetics by 1.2% in the first quarter. Pinnacle Associates Ltd. now owns 888,415 shares of the biopharmaceutical company’s stock valued at $6,397,000 after acquiring an additional 10,840 shares in the last quarter. Institutional investors own 67.89% of the company’s stock.

Shares of CYTK traded down $0.45 during trading hours on Friday, hitting $7.45. The stock had a trading volume of 428,794 shares, compared to its average volume of 347,710. The company has a debt-to-equity ratio of 0.32, a current ratio of 7.07 and a quick ratio of 7.07. Cytokinetics has a 12 month low of $6.75 and a 12 month high of $15.95. The firm has a market capitalization of $428.16 million, a P/E ratio of -2.88 and a beta of 1.49.

Cytokinetics (NASDAQ:CYTK) last issued its quarterly earnings data on Thursday, July 26th. The biopharmaceutical company reported ($0.51) EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of ($0.51). The firm had revenue of $6.22 million during the quarter, compared to the consensus estimate of $5.54 million. analysts expect that Cytokinetics will post -1.97 EPS for the current fiscal year.

Cytokinetics Company Profile

Cytokinetics, Incorporated, a late-stage biopharmaceutical company, focuses on discovering, developing, and commercializing muscle activators as potential treatments for debilitating diseases in which muscle performance is compromised and/or declining. It is developing small molecule drug candidates primarily engineered to increase muscle function and contractility.

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Analyst Recommendations for Cytokinetics (NASDAQ:CYTK)

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