Cytokinetics, Incorporated (CYTK) Given New $17.00 Price Target at HC Wainwright
Cytokinetics, Incorporated (NASDAQ:CYTK) had its price target lowered by HC Wainwright from $26.00 to $17.00 in a research report report published on Tuesday. The firm currently has a buy rating on the biopharmaceutical company’s stock.
CYTK has been the topic of a number of other reports. TheStreet cut shares of Cytokinetics, from a c rating to a d rating in a report on Friday, October 27th. Zacks Investment Research upgraded shares of Cytokinetics, from a hold rating to a buy rating and set a $15.00 price target on the stock in a report on Monday, August 7th. ValuEngine upgraded shares of Cytokinetics, from a sell rating to a hold rating in a report on Friday, September 1st. Needham & Company LLC restated a buy rating and issued a $22.00 price target on shares of Cytokinetics, in a report on Sunday, October 29th. Finally, Morgan Stanley restated an overweight rating and issued a $25.00 price target (up from $24.00) on shares of Cytokinetics, in a report on Friday, October 6th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and ten have issued a buy rating to the stock. Cytokinetics, has an average rating of Buy and an average target price of $18.36.
Cytokinetics, (CYTK) opened at $8.25 on Tuesday. The company has a debt-to-equity ratio of 0.14, a current ratio of 7.60 and a quick ratio of 7.60. Cytokinetics, has a 1-year low of $7.00 and a 1-year high of $17.20.
Cytokinetics, (NASDAQ:CYTK) last issued its earnings results on Thursday, October 26th. The biopharmaceutical company reported ($0.60) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.64) by $0.04. Cytokinetics, had a negative net margin of 172.27% and a negative return on equity of 62.64%. The company had revenue of $6.18 million for the quarter, compared to analysts’ expectations of $5.35 million. equities analysts forecast that Cytokinetics, will post -2.4 earnings per share for the current year.
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In other news, insider Caryn Gordon Mcdowell sold 13,181 shares of Cytokinetics, stock in a transaction that occurred on Friday, October 6th. The shares were sold at an average price of $15.49, for a total transaction of $204,173.69. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Robert I. Blum sold 5,000 shares of Cytokinetics, stock in a transaction that occurred on Friday, September 1st. The shares were sold at an average price of $14.71, for a total transaction of $73,550.00. Following the transaction, the chief executive officer now directly owns 79,785 shares of the company’s stock, valued at $1,173,637.35. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 178,223 shares of company stock valued at $2,639,239. Insiders own 7.20% of the company’s stock.
Several large investors have recently bought and sold shares of CYTK. Janus Henderson Group PLC purchased a new position in shares of Cytokinetics, during the 2nd quarter valued at approximately $32,488,000. Vanguard Group Inc. increased its holdings in shares of Cytokinetics, by 59.9% during the 2nd quarter. Vanguard Group Inc. now owns 3,117,496 shares of the biopharmaceutical company’s stock valued at $37,721,000 after purchasing an additional 1,168,151 shares in the last quarter. Pinnacle Associates Ltd. purchased a new position in shares of Cytokinetics, during the 3rd quarter valued at approximately $14,628,000. State Street Corp increased its holdings in shares of Cytokinetics, by 79.6% during the 2nd quarter. State Street Corp now owns 1,674,335 shares of the biopharmaceutical company’s stock valued at $20,259,000 after purchasing an additional 741,909 shares in the last quarter. Finally, Acadian Asset Management LLC increased its holdings in shares of Cytokinetics, by 128.9% during the 2nd quarter. Acadian Asset Management LLC now owns 766,263 shares of the biopharmaceutical company’s stock valued at $9,271,000 after purchasing an additional 431,457 shares in the last quarter. 71.92% of the stock is owned by hedge funds and other institutional investors.
Cytokinetics, Company Profile
Cytokinetics, Incorporated is a late-stage biopharmaceutical company. The Company is focused on discovering, developing and commercializing first-in-class muscle activators as potential treatments for debilitating diseases in which muscle performance is compromised and/or declining. It is focused on the discovery and development of small molecule therapeutics that modulate muscle function for the treatment of serious diseases and medical conditions.
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