Cytokinetics (CYTK) PT Set at $21.00 by HC Wainwright

Cytokinetics (NASDAQ:CYTK) received a $21.00 target price from HC Wainwright in a research report issued to clients and investors on Wednesday. The firm presently has a “buy” rating on the biopharmaceutical company’s stock. HC Wainwright’s price objective would suggest a potential upside of 177.41% from the stock’s previous close.

Other equities analysts have also issued research reports about the stock. ValuEngine upgraded shares of Cytokinetics from a “hold” rating to a “buy” rating in a research report on Wednesday, October 3rd. Cantor Fitzgerald reissued a “buy” rating and issued a $14.00 price target on shares of Cytokinetics in a report on Wednesday, October 3rd. Finally, BidaskClub downgraded shares of Cytokinetics from a “strong-buy” rating to a “buy” rating in a report on Tuesday, October 9th. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Cytokinetics currently has an average rating of “Buy” and a consensus target price of $12.83.

Shares of NASDAQ:CYTK opened at $7.57 on Wednesday. The company has a debt-to-equity ratio of 0.73, a current ratio of 10.57 and a quick ratio of 10.58. Cytokinetics has a twelve month low of $6.02 and a twelve month high of $10.26.

Cytokinetics (NASDAQ:CYTK) last issued its earnings results on Thursday, November 1st. The biopharmaceutical company reported ($0.40) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.51) by $0.11. The business had revenue of $10.64 million for the quarter, compared to the consensus estimate of $2.23 million. Sell-side analysts expect that Cytokinetics will post -1.96 EPS for the current year.

In other news, CEO Robert I. Blum sold 4,000 shares of the stock in a transaction dated Monday, November 5th. The shares were sold at an average price of $7.11, for a total value of $28,440.00. Following the sale, the chief executive officer now directly owns 156,022 shares of the company’s stock, valued at $1,109,316.42. The sale was disclosed in a legal filing with the SEC, which is available at this link. Over the last three months, insiders sold 11,000 shares of company stock worth $87,330. Insiders own 5.10% of the company’s stock.

Institutional investors have recently made changes to their positions in the company. Millennium Management LLC raised its position in shares of Cytokinetics by 282.2% during the first quarter. Millennium Management LLC now owns 102,172 shares of the biopharmaceutical company’s stock valued at $736,000 after buying an additional 75,442 shares during the last quarter. Principal Financial Group Inc. raised its position in shares of Cytokinetics by 2.5% during the first quarter. Principal Financial Group Inc. now owns 397,603 shares of the biopharmaceutical company’s stock valued at $2,863,000 after buying an additional 9,786 shares during the last quarter. Wasatch Advisors Inc. raised its position in shares of Cytokinetics by 3.9% during the second quarter. Wasatch Advisors Inc. now owns 1,830,049 shares of the biopharmaceutical company’s stock valued at $15,189,000 after buying an additional 68,167 shares during the last quarter. Rhumbline Advisers raised its position in shares of Cytokinetics by 9.0% during the second quarter. Rhumbline Advisers now owns 119,830 shares of the biopharmaceutical company’s stock valued at $995,000 after buying an additional 9,918 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. raised its position in shares of Cytokinetics by 11.4% during the second quarter. Schwab Charles Investment Management Inc. now owns 251,805 shares of the biopharmaceutical company’s stock valued at $2,090,000 after buying an additional 25,813 shares during the last quarter. 70.47% of the stock is currently owned by hedge funds and other institutional investors.

About Cytokinetics

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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