Cytokinetics, Incorporated (NASDAQ:CYTK) Receives $84.95 Average PT from Analysts

Cytokinetics, Incorporated (NASDAQ:CYTK) has earned a consensus rating of “Moderate Buy” from the twenty brokerages that are currently covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and sixteen have issued a buy rating on the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $84.9474.

A number of equities research analysts have issued reports on CYTK shares. B. Riley reiterated a “buy” rating and issued a $90.00 target price (up previously from $80.00) on shares of Cytokinetics in a research report on Monday, November 10th. UBS Group reiterated a “neutral” rating and set a $61.00 price objective on shares of Cytokinetics in a report on Monday, December 1st. Needham & Company LLC boosted their target price on Cytokinetics from $72.00 to $84.00 and gave the company a “buy” rating in a research note on Monday, December 22nd. Truist Financial set a $84.00 price target on Cytokinetics in a research note on Monday, December 22nd. Finally, Wall Street Zen cut Cytokinetics from a “hold” rating to a “sell” rating in a research note on Saturday, November 8th.

Insider Buying and Selling

In other Cytokinetics news, EVP Andrew Callos sold 15,000 shares of the stock in a transaction on Monday, January 5th. The shares were sold at an average price of $60.28, for a total transaction of $904,200.00. Following the transaction, the executive vice president directly owned 50,440 shares of the company’s stock, valued at $3,040,523.20. This represents a 22.92% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Wendell Wierenga sold 20,000 shares of the firm’s stock in a transaction dated Monday, December 22nd. The shares were sold at an average price of $66.14, for a total value of $1,322,800.00. Following the transaction, the director owned 32,444 shares in the company, valued at approximately $2,145,846.16. This trade represents a 38.14% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 161,649 shares of company stock valued at $10,470,062. 2.70% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in CYTK. Fifth Third Wealth Advisors LLC bought a new stake in Cytokinetics during the fourth quarter worth approximately $204,000. Allspring Global Investments Holdings LLC lifted its stake in shares of Cytokinetics by 12.0% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 6,343 shares of the biopharmaceutical company’s stock worth $392,000 after buying an additional 679 shares during the last quarter. Retirement Systems of Alabama boosted its holdings in shares of Cytokinetics by 1.4% during the 4th quarter. Retirement Systems of Alabama now owns 146,668 shares of the biopharmaceutical company’s stock worth $9,319,000 after buying an additional 1,996 shares during the period. Mirador Capital Partners LP grew its stake in Cytokinetics by 0.6% in the 4th quarter. Mirador Capital Partners LP now owns 198,558 shares of the biopharmaceutical company’s stock valued at $12,616,000 after buying an additional 1,191 shares during the last quarter. Finally, GAMMA Investing LLC raised its holdings in Cytokinetics by 39.7% in the 4th quarter. GAMMA Investing LLC now owns 2,056 shares of the biopharmaceutical company’s stock worth $131,000 after acquiring an additional 584 shares during the period.

Cytokinetics Trading Down 1.4%

Shares of NASDAQ CYTK opened at $62.58 on Monday. Cytokinetics has a one year low of $29.31 and a one year high of $70.98. The business has a 50-day moving average price of $64.11 and a two-hundred day moving average price of $52.89. The firm has a market capitalization of $7.65 billion, a PE ratio of -9.95 and a beta of 0.55.

Cytokinetics (NASDAQ:CYTK) last posted its quarterly earnings results on Wednesday, November 5th. The biopharmaceutical company reported ($1.54) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.59) by $0.05. The company had revenue of $1.94 million during the quarter, compared to analysts’ expectations of $6.05 million. Cytokinetics’s revenue for the quarter was up 318.1% compared to the same quarter last year. During the same period last year, the company earned ($1.36) earnings per share. Research analysts anticipate that Cytokinetics will post -5.24 EPS for the current year.

Cytokinetics Company Profile

Cytokinetics, Inc is a late‐stage biopharmaceutical company focused on the discovery and development of novel small‐molecule therapeutics that modulate muscle function. Founded in 1998 and headquartered in South San Francisco, California, the company applies its proprietary insights in muscle biology to address diseases characterized by impaired muscle performance. Its research spans both cardiac and skeletal muscle targets, aiming to deliver innovative medicines for conditions with significant unmet medical need.

The company’s most advanced program, omecamtiv mecarbil, is being evaluated for the treatment of heart failure by enhancing cardiac muscle contractility.