Shares of Cytokinetics, Incorporated (NASDAQ:CYTK – Get Free Report) have earned an average recommendation of “Moderate Buy” from the fourteen brokerages that are covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a hold rating and thirteen have issued a buy rating on the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $58.21.
A number of brokerages have recently commented on CYTK. StockNews.com began coverage on shares of Cytokinetics in a research report on Thursday, August 17th. They issued a “sell” rating on the stock. Needham & Company LLC reissued a “buy” rating and issued a $60.00 price objective on shares of Cytokinetics in a research report on Friday, August 4th. JPMorgan Chase & Co. boosted their price objective on shares of Cytokinetics from $52.00 to $54.00 in a research report on Thursday, June 22nd. SVB Leerink initiated coverage on shares of Cytokinetics in a research report on Tuesday, August 15th. They issued an “outperform” rating and a $58.00 price objective on the stock. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $59.00 price target on shares of Cytokinetics in a research report on Tuesday, August 22nd.
Check Out Our Latest Report on CYTK
Cytokinetics Stock Down 1.8 %
Cytokinetics (NASDAQ:CYTK – Get Free Report) last released its quarterly earnings results on Thursday, August 3rd. The biopharmaceutical company reported ($1.34) earnings per share for the quarter, missing the consensus estimate of ($1.23) by ($0.11). The company had revenue of $0.87 million during the quarter, compared to analyst estimates of $5.67 million. Cytokinetics had a negative net margin of 5,419.17% and a negative return on equity of 1,401.63%. The firm’s quarterly revenue was down 99.0% compared to the same quarter last year. During the same quarter last year, the company earned ($0.23) EPS. Equities analysts anticipate that Cytokinetics will post -4.1 EPS for the current fiscal year.
Insider Activity at Cytokinetics
In related news, EVP Fady Ibraham Malik sold 2,500 shares of the company’s stock in a transaction dated Thursday, September 14th. The shares were sold at an average price of $34.86, for a total value of $87,150.00. Following the transaction, the executive vice president now directly owns 155,664 shares in the company, valued at $5,426,447.04. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Cytokinetics news, CEO Robert I. Blum sold 12,500 shares of the stock in a transaction dated Monday, July 3rd. The shares were sold at an average price of $32.60, for a total transaction of $407,500.00. Following the sale, the chief executive officer now directly owns 441,417 shares in the company, valued at $14,390,194.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Fady Ibraham Malik sold 2,500 shares of the stock in a transaction dated Thursday, September 14th. The stock was sold at an average price of $34.86, for a total transaction of $87,150.00. Following the sale, the executive vice president now owns 155,664 shares in the company, valued at $5,426,447.04. The disclosure for this sale can be found here. Over the last three months, insiders have sold 88,020 shares of company stock worth $2,958,700. Corporate insiders own 3.80% of the company’s stock.
Institutional Investors Weigh In On Cytokinetics
A number of large investors have recently bought and sold shares of the company. Archer Investment Corp bought a new position in shares of Cytokinetics in the first quarter worth about $51,000. Affinity Asset Advisors LLC lifted its holdings in shares of Cytokinetics by 152.8% in the first quarter. Affinity Asset Advisors LLC now owns 221,463 shares of the biopharmaceutical company’s stock worth $7,793,000 after acquiring an additional 133,862 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in shares of Cytokinetics by 151.8% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 161,856 shares of the biopharmaceutical company’s stock worth $7,416,000 after acquiring an additional 97,572 shares during the last quarter. Stonnington Group LLC bought a new position in shares of Cytokinetics in the first quarter worth about $298,000. Finally, Natixis Advisors L.P. lifted its holdings in shares of Cytokinetics by 18.1% in the first quarter. Natixis Advisors L.P. now owns 39,851 shares of the biopharmaceutical company’s stock worth $1,402,000 after acquiring an additional 6,104 shares during the last quarter.
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. The company develops small molecule drug candidates primarily engineered to impact muscle function and contractility.
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