Brokerages Anticipate Cytokinetics, Inc. (NASDAQ:CYTK) Will Post Earnings of -$0.42 Per Share

Equities analysts expect Cytokinetics, Inc. (NASDAQ:CYTK) to report ($0.42) earnings per share for the current fiscal quarter, Zacks Investment Research reports. Two analysts have provided estimates for Cytokinetics’ earnings. The highest EPS estimate is ($0.26) and the lowest is ($0.51). Cytokinetics reported earnings of ($0.48) per share during the same quarter last year, which suggests a positive year-over-year growth rate of 12.5%. The firm is expected to issue its next earnings results on Thursday, February 20th.

On average, analysts expect that Cytokinetics will report full-year earnings of ($2.02) per share for the current year, with EPS estimates ranging from ($2.10) to ($1.85). For the next fiscal year, analysts anticipate that the company will report earnings of ($2.02) per share, with EPS estimates ranging from ($2.25) to ($1.69). Zacks’ EPS averages are a mean average based on a survey of sell-side analysts that follow Cytokinetics.

Cytokinetics (NASDAQ:CYTK) last announced its earnings results on Thursday, October 31st. The biopharmaceutical company reported ($0.50) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.56) by $0.06. The business had revenue of $6.06 million during the quarter, compared to the consensus estimate of $7.80 million. Cytokinetics had a negative return on equity of 10,351.99% and a negative net margin of 378.70%.

Several brokerages have recently weighed in on CYTK. HC Wainwright reaffirmed a “buy” rating and set a $26.00 target price on shares of Cytokinetics in a research note on Friday, October 4th. Zacks Investment Research downgraded Cytokinetics from a “hold” rating to a “sell” rating in a research note on Friday, January 10th. Needham & Company LLC reaffirmed a “buy” rating and set a $24.00 target price on shares of Cytokinetics in a research note on Friday, November 1st. They noted that the move was a valuation call. BidaskClub downgraded Cytokinetics from a “buy” rating to a “hold” rating in a research note on Saturday. Finally, ValuEngine downgraded Cytokinetics from a “hold” rating to a “sell” rating in a research note on Thursday, November 14th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and five have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $19.86.

Shares of CYTK stock traded down $0.47 during trading hours on Wednesday, hitting $12.14. 654,417 shares of the company’s stock were exchanged, compared to its average volume of 639,411. The firm has a market cap of $717.23 million, a P/E ratio of -5.84 and a beta of 1.53. The firm has a 50 day moving average of $10.56 and a two-hundred day moving average of $11.43. Cytokinetics has a fifty-two week low of $5.75 and a fifty-two week high of $14.94.

In other news, major shareholder Bvf Partners L. P/Il purchased 223,659 shares of the company’s stock in a transaction that occurred on Tuesday, December 10th. The stock was purchased at an average cost of $9.40 per share, for a total transaction of $2,102,394.60. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Robert I. Blum sold 6,000 shares of the business’s stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $8.08, for a total value of $48,480.00. Following the sale, the chief executive officer now owns 235,057 shares of the company’s stock, valued at $1,899,260.56. The disclosure for this sale can be found here. Insiders have sold 19,950 shares of company stock valued at $203,622 over the last quarter. 5.70% of the stock is owned by company insiders.

A number of large investors have recently modified their holdings of CYTK. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Cytokinetics by 79.4% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,213 shares of the biopharmaceutical company’s stock valued at $48,000 after buying an additional 1,865 shares in the last quarter. Nisa Investment Advisors LLC purchased a new stake in Cytokinetics in the 4th quarter valued at $80,000. Bank of Montreal Can grew its holdings in Cytokinetics by 139.4% in the 2nd quarter. Bank of Montreal Can now owns 7,949 shares of the biopharmaceutical company’s stock valued at $90,000 after buying an additional 4,628 shares in the last quarter. SG Americas Securities LLC purchased a new stake in Cytokinetics in the 3rd quarter valued at $167,000. Finally, Metropolitan Life Insurance Co NY grew its holdings in Cytokinetics by 36.9% in the 3rd quarter. Metropolitan Life Insurance Co NY now owns 19,062 shares of the biopharmaceutical company’s stock valued at $217,000 after buying an additional 5,143 shares in the last quarter. Institutional investors own 76.39% of the company’s stock.

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 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.

Read More: How can investors invest in the S&P/TSX Index?

Get a free copy of the Zacks research report on Cytokinetics (CYTK)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Cytokinetics (NASDAQ:CYTK)

Receive News & Ratings for Cytokinetics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cytokinetics and related companies with MarketBeat.com's FREE daily email newsletter.