Cytokinetics, Incorporated (NASDAQ:CYTK) Given Consensus Rating of “Moderate Buy” by Analysts

Cytokinetics, Incorporated (NASDAQ:CYTK) has been given a consensus rating of “Moderate Buy” by the fifteen research firms that are covering the company, Marketbeat.com reports. Two equities research analysts have rated the stock with a hold recommendation and thirteen have given a buy recommendation to the company. The average 1-year target price among brokerages that have covered the stock in the last year is $79.33.

A number of equities analysts have issued reports on the stock. Mizuho reduced their price objective on shares of Cytokinetics from $103.00 to $99.00 and set a “buy” rating on the stock in a research note on Wednesday, March 6th. StockNews.com cut shares of Cytokinetics from a “hold” rating to a “sell” rating in a research note on Friday, January 5th. Oppenheimer reiterated an “outperform” rating and issued a $107.00 target price on shares of Cytokinetics in a report on Monday, March 4th. UBS Group lowered shares of Cytokinetics from a “buy” rating to a “neutral” rating and increased their target price for the stock from $61.00 to $92.00 in a report on Wednesday, January 24th. Finally, HC Wainwright reiterated a “buy” rating and issued a $94.00 target price on shares of Cytokinetics in a report on Wednesday, February 28th.

Cytokinetics Price Performance

CYTK opened at $65.27 on Friday. Cytokinetics has a one year low of $25.98 and a one year high of $110.25. The company’s 50 day simple moving average is $68.82 and its 200-day simple moving average is $60.60. The stock has a market capitalization of $6.83 billion, a P/E ratio of -11.98 and a beta of 0.72.

Cytokinetics (NASDAQ:CYTK) last released its quarterly earnings results on Tuesday, February 27th. The biopharmaceutical company reported ($1.38) EPS for the quarter, missing the consensus estimate of ($1.03) by ($0.35). The firm had revenue of $1.70 million for the quarter, compared to analyst estimates of $7.62 million. During the same quarter in the prior year, the business earned ($1.45) earnings per share. Cytokinetics’s revenue was down 10.5% compared to the same quarter last year. As a group, analysts anticipate that Cytokinetics will post -4.5 EPS for the current year.

Insider Buying and Selling at Cytokinetics

In other Cytokinetics news, EVP Fady Ibraham Malik sold 32,605 shares of Cytokinetics stock in a transaction on Tuesday, February 6th. The shares were sold at an average price of $79.30, for a total value of $2,585,576.50. Following the sale, the executive vice president now directly owns 142,973 shares in the company, valued at approximately $11,337,758.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director John T. Henderson sold 5,000 shares of Cytokinetics stock in a transaction dated Wednesday, February 14th. The shares were sold at an average price of $76.48, for a total value of $382,400.00. Following the completion of the transaction, the director now owns 42,632 shares of the company’s stock, valued at approximately $3,260,495.36. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Fady Ibraham Malik sold 32,605 shares of Cytokinetics stock in a transaction dated Tuesday, February 6th. The shares were sold at an average price of $79.30, for a total transaction of $2,585,576.50. Following the completion of the transaction, the executive vice president now directly owns 142,973 shares of the company’s stock, valued at approximately $11,337,758.90. The disclosure for this sale can be found here. In the last three months, insiders have sold 113,376 shares of company stock worth $8,275,252. Insiders own 3.40% of the company’s stock.

Hedge Funds Weigh In On Cytokinetics

Hedge funds have recently added to or reduced their stakes in the stock. Mutual of America Capital Management LLC increased its position in shares of Cytokinetics by 240.5% in the first quarter. Mutual of America Capital Management LLC now owns 58,437 shares of the biopharmaceutical company’s stock worth $4,097,000 after purchasing an additional 41,275 shares during the period. FORA Capital LLC boosted its position in shares of Cytokinetics by 758.0% during the 1st quarter. FORA Capital LLC now owns 82,776 shares of the biopharmaceutical company’s stock worth $5,803,000 after acquiring an additional 73,128 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its stake in Cytokinetics by 10.6% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 59,423 shares of the biopharmaceutical company’s stock valued at $4,166,000 after acquiring an additional 5,676 shares during the last quarter. Retirement Systems of Alabama acquired a new position in Cytokinetics during the first quarter valued at approximately $8,633,000. Finally, Van ECK Associates Corp bought a new stake in Cytokinetics during the first quarter worth $4,059,000.

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. The company develops small molecule drug candidates primarily engineered to impact muscle function and contractility.