Zacks: Analysts Expect Cytokinetics, Inc. (CYTK) Will Post Quarterly Sales of $3.46 Million

Analysts forecast that Cytokinetics, Inc. (NASDAQ:CYTK) will announce $3.46 million in sales for the current quarter, Zacks reports. Two analysts have made estimates for Cytokinetics’ earnings, with estimates ranging from $2.00 million to $4.91 million. Cytokinetics reported sales of -$20,000.00 in the same quarter last year, which indicates a positive year-over-year growth rate of 17,400%. The company is expected to announce its next earnings report on Thursday, February 21st.

According to Zacks, analysts expect that Cytokinetics will report full-year sales of $27.71 million for the current fiscal year, with estimates ranging from $24.12 million to $32.00 million. For the next fiscal year, analysts anticipate that the business will report sales of $34.23 million, with estimates ranging from $20.00 million to $51.50 million. Zacks’ sales averages are a mean average based on a survey of research firms that that provide coverage for Cytokinetics.

Cytokinetics (NASDAQ:CYTK) last issued its quarterly earnings results on Thursday, November 1st. The biopharmaceutical company reported ($0.40) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.51) by $0.11. The company had revenue of $10.64 million during the quarter, compared to the consensus estimate of $2.23 million.

CYTK has been the topic of a number of recent analyst reports. BidaskClub upgraded Cytokinetics from a “hold” rating to a “buy” rating in a research report on Saturday, September 8th. Morgan Stanley assumed coverage on Cytokinetics in a research report on Monday, September 10th. They issued an “equal weight” rating and a $10.00 price target on the stock. Zacks Investment Research upgraded Cytokinetics from a “sell” rating to a “hold” rating and set a $8.00 target price on the stock in a research report on Friday, November 2nd. ValuEngine upgraded Cytokinetics from a “hold” rating to a “buy” rating in a research report on Thursday, November 8th. Finally, HC Wainwright set a $21.00 target price on Cytokinetics and gave the company a “buy” rating in a research report on Friday, November 2nd. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $12.75.

Shares of NASDAQ CYTK traded down $0.12 during mid-day trading on Thursday, reaching $6.50. The company had a trading volume of 286,900 shares, compared to its average volume of 345,277. The company has a debt-to-equity ratio of 0.73, a quick ratio of 8.95 and a current ratio of 10.57. Cytokinetics has a one year low of $6.20 and a one year high of $12.00. The stock has a market capitalization of $388.95 million, a P/E ratio of -2.51 and a beta of 1.98.

In other Cytokinetics news, CEO Robert I. Blum sold 4,000 shares of Cytokinetics stock in a transaction dated Friday, October 5th. The stock was sold at an average price of $8.79, for a total value of $35,160.00. Following the transaction, the chief executive officer now owns 160,022 shares in the company, valued at $1,406,593.38. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In the last quarter, insiders sold 16,500 shares of company stock worth $131,090. Company insiders own 5.10% of the company’s stock.

Institutional investors have recently added to or reduced their stakes in the business. Virtu Financial LLC bought a new stake in shares of Cytokinetics during the third quarter worth about $111,000. DRW Securities LLC grew its holdings in shares of Cytokinetics by 91.4% during the second quarter. DRW Securities LLC now owns 26,797 shares of the biopharmaceutical company’s stock worth $222,000 after purchasing an additional 12,797 shares during the last quarter. Fox Run Management L.L.C. grew its holdings in shares of Cytokinetics by 181.8% during the second quarter. Fox Run Management L.L.C. now owns 31,627 shares of the biopharmaceutical company’s stock worth $263,000 after purchasing an additional 20,405 shares during the last quarter. UBS Group AG grew its holdings in shares of Cytokinetics by 226.7% during the first quarter. UBS Group AG now owns 54,910 shares of the biopharmaceutical company’s stock worth $396,000 after purchasing an additional 38,105 shares during the last quarter. Finally, DAFNA Capital Management LLC bought a new stake in shares of Cytokinetics during the second quarter worth about $576,000. Hedge funds and other institutional investors own 68.25% of the company’s stock.

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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