$3.44 Million in Sales Expected for Cytokinetics, Incorporated (NASDAQ:CYTK) This Quarter

Wall Street brokerages forecast that Cytokinetics, Incorporated (NASDAQ:CYTKGet Rating) will report sales of $3.44 million for the current quarter, according to Zacks. Five analysts have provided estimates for Cytokinetics’ earnings, with the highest sales estimate coming in at $6.00 million and the lowest estimate coming in at $1.15 million. Cytokinetics posted sales of $2.84 million in the same quarter last year, which suggests a positive year-over-year growth rate of 21.1%. The company is expected to issue its next earnings results on Monday, January 1st.

According to Zacks, analysts expect that Cytokinetics will report full-year sales of $16.21 million for the current fiscal year, with estimates ranging from $4.59 million to $25.00 million. For the next fiscal year, analysts anticipate that the company will report sales of $89.97 million, with estimates ranging from $23.69 million to $188.12 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research firms that that provide coverage for Cytokinetics.

Cytokinetics (NASDAQ:CYTKGet Rating) last issued its quarterly earnings data on Wednesday, May 4th. The biopharmaceutical company reported ($1.02) earnings per share for the quarter, missing the consensus estimate of ($0.93) by ($0.09). The business had revenue of $1.15 million for the quarter, compared to the consensus estimate of $4.72 million. Cytokinetics had a negative net margin of 396.22% and a negative return on equity of 163.01%. Cytokinetics’s revenue was down 82.5% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.66) EPS.

CYTK has been the topic of several recent research reports. Mizuho cut their price objective on shares of Cytokinetics from $80.00 to $54.00 and set a “na” rating on the stock in a research report on Monday, May 16th. HC Wainwright reaffirmed a “buy” rating and set a $75.00 price objective on shares of Cytokinetics in a research report on Tuesday. Cantor Fitzgerald dropped their price target on shares of Cytokinetics from $57.00 to $53.00 in a research report on Thursday, February 17th. Needham & Company LLC lifted their price target on shares of Cytokinetics from $52.00 to $60.00 in a research report on Thursday, May 5th. Finally, Zacks Investment Research lowered shares of Cytokinetics from a “buy” rating to a “hold” rating in a research report on Monday, February 21st. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $54.29.

In other Cytokinetics news, Director Santo J. Costa sold 10,000 shares of Cytokinetics stock in a transaction on Wednesday, March 2nd. The shares were sold at an average price of $37.35, for a total transaction of $373,500.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP Mark A. Schlossberg sold 25,196 shares of Cytokinetics stock in a transaction on Tuesday, March 15th. The stock was sold at an average price of $33.96, for a total transaction of $855,656.16. The disclosure for this sale can be found here. Insiders have sold 179,183 shares of company stock worth $6,877,813 in the last quarter. Corporate insiders own 5.00% of the company’s stock.

Several large investors have recently modified their holdings of CYTK. Paragon Capital Management Ltd bought a new position in shares of Cytokinetics in the fourth quarter valued at about $47,000. Penserra Capital Management LLC raised its holdings in shares of Cytokinetics by 16.8% in the third quarter. Penserra Capital Management LLC now owns 1,910 shares of the biopharmaceutical company’s stock valued at $68,000 after buying an additional 275 shares during the last quarter. First Mercantile Trust Co. bought a new position in shares of Cytokinetics in the third quarter valued at about $86,000. KBC Group NV bought a new position in shares of Cytokinetics in the first quarter valued at about $99,000. Finally, Chilton Capital Management LLC bought a new position in shares of Cytokinetics in the fourth quarter valued at about $103,000.

CYTK traded up $2.88 during midday trading on Friday, hitting $41.87. 728,951 shares of the company’s stock traded hands, compared to its average volume of 1,022,700. The company has a market cap of $3.59 billion, a PE ratio of -13.00 and a beta of 1.22. The stock’s fifty day simple moving average is $38.74 and its 200-day simple moving average is $37.72. The company has a debt-to-equity ratio of 1.68, a current ratio of 9.33 and a quick ratio of 9.33. Cytokinetics has a one year low of $17.72 and a one year high of $47.90.

About Cytokinetics (Get Rating)

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.

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