Cytokinetics (NASDAQ:CYTK) was upgraded by research analysts at ValuEngine from a “buy” rating to a “strong-buy” rating in a research note issued on Wednesday.

Other analysts have also recently issued reports about the company. Cantor Fitzgerald assumed coverage on Cytokinetics in a research report on Thursday, September 20th. They set an “overweight” rating and a $14.00 price target for the company. Zacks Investment Research cut Cytokinetics from a “hold” rating to a “sell” rating in a research report on Wednesday, October 3rd. BidaskClub cut Cytokinetics from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, October 9th. Morgan Stanley set a $10.00 price target on Cytokinetics and gave the stock a “hold” rating in a research report on Friday, October 5th. Finally, HC Wainwright dropped their target price on Cytokinetics from $24.00 to $21.00 and set a “buy” rating for the company in a report on Friday, October 5th. They noted that the move was a valuation call. Two analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. Cytokinetics has a consensus rating of “Buy” and a consensus price target of $12.83.

Shares of CYTK traded up $0.04 during trading hours on Wednesday, hitting $8.00. 149,326 shares of the stock were exchanged, compared to its average volume of 340,117. The company has a debt-to-equity ratio of 0.73, a quick ratio of 10.58 and a current ratio of 10.57. Cytokinetics has a 12-month low of $6.02 and a 12-month high of $10.26. The stock has a market capitalization of $404.86 million, a price-to-earnings ratio of -3.09 and a beta of 2.00.

Cytokinetics (NASDAQ:CYTK) last issued its quarterly earnings results on Thursday, November 1st. The biopharmaceutical company reported ($0.40) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.51) by $0.11. The firm had revenue of $10.64 million for the quarter, compared to analysts’ expectations of $2.23 million. On average, analysts predict that Cytokinetics will post -1.96 earnings per share for the current year.

In other Cytokinetics news, CEO Robert I. Blum sold 4,000 shares of the company’s stock in a transaction on Friday, October 5th. The stock was sold at an average price of $8.79, for a total value of $35,160.00. Following the completion of the sale, the chief executive officer now directly owns 160,022 shares in the company, valued at approximately $1,406,593.38. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Over the last 90 days, insiders sold 16,500 shares of company stock valued at $128,400. 5.10% of the stock is owned by company insiders.

Large investors have recently modified their holdings of the business. Wasatch Advisors Inc. grew its holdings in Cytokinetics by 3.4% in the 3rd quarter. Wasatch Advisors Inc. now owns 1,892,592 shares of the biopharmaceutical company’s stock valued at $18,642,000 after buying an additional 62,543 shares in the last quarter. Northern Trust Corp lifted its stake in shares of Cytokinetics by 16.7% in the 2nd quarter. Northern Trust Corp now owns 498,546 shares of the biopharmaceutical company’s stock valued at $4,138,000 after purchasing an additional 71,418 shares during the last quarter. Millennium Management LLC lifted its stake in shares of Cytokinetics by 351.9% in the 2nd quarter. Millennium Management LLC now owns 461,733 shares of the biopharmaceutical company’s stock valued at $3,832,000 after purchasing an additional 359,561 shares during the last quarter. Rhumbline Advisers lifted its stake in shares of Cytokinetics by 9.0% in the 2nd quarter. Rhumbline Advisers now owns 119,830 shares of the biopharmaceutical company’s stock valued at $995,000 after purchasing an additional 9,918 shares during the last quarter. Finally, DRW Securities LLC lifted its stake in shares of Cytokinetics by 91.4% in the 2nd quarter. DRW Securities LLC now owns 26,797 shares of the biopharmaceutical company’s stock valued at $222,000 after purchasing an additional 12,797 shares during the last quarter. Institutional investors own 70.47% of the company’s stock.

About Cytokinetics

Cytokinetics, Incorporated, a late-stage biopharmaceutical company, focuses on discovering, developing, and commercializing muscle activators as potential treatments for debilitating diseases in which muscle performance is compromised and/or declining. It is developing small molecule drug candidates primarily engineered to increase muscle function and contractility.

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