Cytokinetics (NASDAQ:CYTK) Announces Quarterly Earnings Results, Misses Estimates By $0.06 EPS

Cytokinetics (NASDAQ:CYTK) posted its quarterly earnings data on Thursday. The biopharmaceutical company reported ($0.56) EPS for the quarter, missing the consensus estimate of ($0.50) by ($0.06), Bloomberg Earnings reports. Cytokinetics had a negative net margin of 308.73% and a negative return on equity of 405.45%. The firm had revenue of $7.14 million during the quarter, compared to analysts’ expectations of $6.81 million.

Shares of NASDAQ:CYTK traded down $0.12 during trading on Friday, hitting $13.51. 609,449 shares of the company were exchanged, compared to its average volume of 501,029. The firm has a market cap of $786.74 million, a P/E ratio of -6.93 and a beta of 1.66. The firm’s 50 day moving average is $11.60. Cytokinetics has a 52-week low of $5.75 and a 52-week high of $14.25. The company has a current ratio of 7.09, a quick ratio of 7.09 and a debt-to-equity ratio of 12.35.

Several equities analysts recently commented on CYTK shares. Cantor Fitzgerald reiterated a “buy” rating and issued a $14.00 price objective on shares of Cytokinetics in a research note on Friday, May 10th. BidaskClub upgraded Cytokinetics from a “buy” rating to a “strong-buy” rating in a research note on Saturday. Piper Jaffray Companies set a $14.00 price objective on Cytokinetics and gave the company a “buy” rating in a research note on Monday, July 15th. Morgan Stanley set a $11.00 price objective on Cytokinetics and gave the company a “hold” rating in a research note on Monday, July 15th. Finally, Zacks Investment Research downgraded Cytokinetics from a “hold” rating to a “sell” rating in a research note on Tuesday, July 9th. One analyst has rated the stock with a sell rating, one has issued a hold rating, three have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Cytokinetics currently has a consensus rating of “Buy” and a consensus target price of $15.00.

In other Cytokinetics news, CEO Robert I. Blum sold 6,000 shares of the stock in a transaction on Monday, July 15th. The stock was sold at an average price of $10.94, for a total transaction of $65,640.00. Following the sale, the chief executive officer now owns 256,022 shares in the company, valued at $2,800,880.68. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In the last 90 days, insiders have sold 16,500 shares of company stock worth $176,535. Company insiders own 5.70% of the company’s stock.

Cytokinetics Company Profile

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

Further Reading: Cost of Goods Sold (COGS)

Earnings History for Cytokinetics (NASDAQ:CYTK)

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