Cytokinetics (NASDAQ:CYTK) Announces Quarterly Earnings Results

Cytokinetics (NASDAQ:CYTK) posted its quarterly earnings data on Thursday. The biopharmaceutical company reported ($1.26) EPS for the quarter, topping the consensus estimate of ($1.29) by $0.03, Zacks reports. The firm had revenue of $16.93 million for the quarter, compared to analysts’ expectations of $14.26 million.

Cytokinetics Stock Performance

CYTK stock opened at $46.00 on Friday. The company has a debt-to-equity ratio of 5.93, a current ratio of 9.28 and a quick ratio of 9.28. The business has a 50-day moving average price of $47.22 and a 200 day moving average price of $51.28. The company has a market capitalization of $5.43 billion, a P/E ratio of -8.55 and a beta of 0.83. Cytokinetics has a 1-year low of $40.53 and a 1-year high of $75.71.

Insider Activity at Cytokinetics

In other Cytokinetics news, EVP Fady Ibraham Malik sold 7,300 shares of the business’s stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of $50.64, for a total value of $369,672.00. Following the completion of the transaction, the executive vice president now directly owns 116,071 shares in the company, valued at approximately $5,877,835.44. The trade was a 5.92 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Wendall Wierenga sold 742 shares of the business’s stock in a transaction dated 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 owns 24,559 shares of the company’s stock, valued at $1,193,812.99. This represents a 2.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 22,822 shares of company stock worth $1,127,848 over the last three months. 3.40% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. Evercore ISI raised shares of Cytokinetics to a “strong-buy” rating in a research note on Friday, February 7th. HC Wainwright reissued a “buy” rating and set a $120.00 target price on shares of Cytokinetics in a research note on Friday. Mizuho boosted their target price on shares of Cytokinetics from $99.00 to $103.00 and gave the company an “outperform” rating in a research note on Thursday, November 21st. Royal Bank of Canada boosted their target price 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. Finally, Morgan Stanley raised shares of Cytokinetics from an “equal weight” rating to an “overweight” rating and lowered their target price for the company from $70.00 to $67.00 in a research note on Thursday, February 13th. Two investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $82.00.

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.