BidaskClub cut shares of Cytokinetics (NASDAQ:CYTK) from a buy rating to a hold rating in a research note issued to investors on Thursday, BidAskClub reports.

Other equities analysts have also issued reports about the company. ValuEngine lowered Cytokinetics from a strong-buy rating to a buy rating in a research report on Thursday, December 20th. HC Wainwright reaffirmed a buy rating and issued a $21.00 target price on shares of Cytokinetics in a research report on Tuesday, January 22nd. Zacks Investment Research raised Cytokinetics from a hold rating to a buy rating and set a $7.75 target price on the stock in a research report on Monday, January 21st. Finally, Piper Jaffray Companies boosted their price target on Cytokinetics from $12.00 to $13.00 and gave the company an overweight rating in a report on Wednesday, March 20th. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The company presently has a consensus rating of Buy and a consensus target price of $13.15.

Shares of CYTK traded up $0.13 during trading on Thursday, reaching $8.08. The company’s stock had a trading volume of 458,300 shares, compared to its average volume of 545,679. Cytokinetics has a twelve month low of $5.75 and a twelve month high of $10.44. The firm has a market cap of $447.41 million, a price-to-earnings ratio of -4.14 and a beta of 2.07. The company has a quick ratio of 9.36, a current ratio of 9.36 and a debt-to-equity ratio of 1.53.

Cytokinetics (NASDAQ:CYTK) last announced its earnings results on Thursday, February 21st. The biopharmaceutical company reported ($0.48) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.51) by $0.03. Cytokinetics had a negative return on equity of 168.21% and a negative net margin of 337.42%. The company had revenue of $9.38 million for the quarter, compared to analyst estimates of $3.46 million. On average, equities analysts expect that Cytokinetics will post -1.75 earnings per share for the current fiscal year.

Several hedge funds and other institutional investors have recently modified their holdings of CYTK. Great Point Partners LLC increased its holdings in shares of Cytokinetics by 45.6% in the 4th quarter. Great Point Partners LLC now owns 3,173,288 shares of the biopharmaceutical company’s stock valued at $20,055,000 after acquiring an additional 993,600 shares during the last quarter. BlackRock Inc. increased its holdings in shares of Cytokinetics by 9.5% in the 3rd quarter. BlackRock Inc. now owns 8,698,387 shares of the biopharmaceutical company’s stock valued at $85,680,000 after acquiring an additional 754,593 shares during the last quarter. Fosun International Ltd bought a new stake in shares of Cytokinetics in the 4th quarter valued at approximately $1,113,000. Foresite Capital Management IV LLC bought a new stake in shares of Cytokinetics in the 4th quarter valued at approximately $1,107,000. Finally, Dimensional Fund Advisors LP increased its holdings in shares of Cytokinetics by 233.6% in the 3rd quarter. Dimensional Fund Advisors LP now owns 229,377 shares of the biopharmaceutical company’s stock valued at $2,259,000 after acquiring an additional 160,622 shares during the last quarter. Institutional investors and hedge funds own 71.79% 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.

See Also: How is an ETF different from a mutual fund?

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.