Cytokinetics, Incorporated (NASDAQ:CYTK) Given Average Rating of “Moderate Buy” by Brokerages

Shares of Cytokinetics, Incorporated (NASDAQ:CYTK) have been given a consensus rating of “Moderate Buy” by the eighteen analysts that are presently covering the stock, MarketBeat.com reports. Two equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $82.00.

A number of equities research analysts have issued reports on the stock. JMP Securities reiterated a “market outperform” rating and set a $78.00 target price on shares of Cytokinetics in a report on Friday, February 7th. Royal Bank of Canada lifted their target price on Cytokinetics from $80.00 to $82.00 and gave the company an “outperform” rating in a report on Wednesday, December 18th. Mizuho increased their price target on Cytokinetics from $99.00 to $103.00 and gave the company an “outperform” rating in a research report on Thursday, November 21st. Citigroup initiated coverage on Cytokinetics in a research report on Friday, February 7th. They set a “buy” rating and a $86.00 price objective for the company. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $72.00 target price on shares of Cytokinetics in a report on Thursday, February 6th.

Insider Transactions at Cytokinetics

In other Cytokinetics news, Director Wendall Wierenga sold 742 shares of Cytokinetics stock in a transaction on 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 in the company, valued at approximately $1,193,812.99. The trade was a 2.93 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Fady Ibraham Malik sold 2,000 shares of the company’s stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $45.98, for a total transaction of $91,960.00. Following the completion of the sale, the executive vice president now directly owns 116,071 shares of the company’s stock, valued at $5,336,944.58. The trade was a 1.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 22,822 shares of company stock worth $1,127,848. Corporate insiders own 3.40% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the stock. Deep Track Capital LP lifted its stake in shares of Cytokinetics by 296.9% in the 4th quarter. Deep Track Capital LP now owns 2,500,000 shares of the biopharmaceutical company’s stock worth $117,600,000 after acquiring an additional 1,870,094 shares during the period. Capital International Investors acquired a new stake in Cytokinetics in the fourth quarter valued at about $51,564,000. T. Rowe Price Investment Management Inc. boosted its holdings in Cytokinetics by 11.0% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 10,752,123 shares of the biopharmaceutical company’s stock valued at $505,780,000 after purchasing an additional 1,062,136 shares in the last quarter. Norges Bank acquired a new position in Cytokinetics during the 4th quarter worth approximately $46,556,000. Finally, Vestal Point Capital LP lifted its holdings in shares of Cytokinetics by 56.7% in the 4th quarter. Vestal Point Capital LP now owns 2,350,000 shares of the biopharmaceutical company’s stock valued at $110,544,000 after buying an additional 850,000 shares during the period.

Cytokinetics Trading Up 1.3 %

Shares of NASDAQ CYTK opened at $47.45 on Friday. 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 stock has a market capitalization of $5.60 billion, a PE ratio of -8.82 and a beta of 0.83. Cytokinetics has a twelve month low of $40.53 and a twelve month high of $75.71. The stock has a fifty day simple moving average of $47.28 and a 200-day simple moving average of $51.36.

Cytokinetics (NASDAQ:CYTK) last released its earnings results on Thursday, February 27th. The biopharmaceutical company reported ($1.26) earnings per share for the quarter, beating the consensus estimate of ($1.29) by $0.03. The firm had revenue of $16.93 million during the quarter, compared to analyst estimates of $14.26 million. On average, equities analysts forecast that Cytokinetics will post -5.24 earnings per share for the current year.

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.