Cytokinetics, Incorporated (NASDAQ:CYTK) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Cytokinetics, Incorporated (NASDAQ:CYTK) has received an average rating of “Moderate Buy” from the twenty-one research firms that are presently covering the stock, MarketBeat reports. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and seventeen have assigned a buy rating to the company. The average 12 month target price among brokers that have covered the stock in the last year is $87.4211.

Several research analysts have commented on CYTK shares. Cantor Fitzgerald reiterated an “overweight” rating on shares of Cytokinetics in a report on Tuesday, October 21st. The Goldman Sachs Group set a $95.00 target price on Cytokinetics and gave the company a “buy” rating in a report on Thursday, December 18th. Jefferies Financial Group restated a “buy” rating and issued a $90.00 price target on shares of Cytokinetics in a research note on Friday, January 9th. B. Riley Financial upped their price objective on Cytokinetics from $90.00 to $108.00 and gave the stock a “buy” rating in a research report on Wednesday, January 21st. Finally, Citizens Jmp raised their target price on Cytokinetics from $78.00 to $88.00 and gave the stock a “market outperform” rating in a research report on Monday, December 22nd.

Insiders Place Their Bets

In other news, Director Wendell Wierenga sold 20,000 shares of the business’s stock in a transaction that occurred on Monday, December 22nd. The shares were sold at an average price of $66.14, for a total transaction of $1,322,800.00. Following the completion of the sale, the director owned 32,444 shares in the company, valued at approximately $2,145,846.16. The trade was a 38.14% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Andrew Callos sold 15,000 shares of the stock in a transaction on Thursday, February 5th. The shares were sold at an average price of $61.93, for a total transaction of $928,950.00. Following the completion of the transaction, the executive vice president directly owned 50,440 shares in the company, valued at $3,123,749.20. This trade represents a 22.92% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 158,585 shares of company stock valued at $10,286,998. 3.40% of the stock is owned by corporate insiders.

Institutional Trading of Cytokinetics

Institutional investors and hedge funds have recently made changes to their positions in the company. EverSource Wealth Advisors LLC grew its stake in Cytokinetics by 723.7% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 766 shares of the biopharmaceutical company’s stock worth $25,000 after buying an additional 673 shares during the last quarter. Quarry LP purchased a new position in shares of Cytokinetics during the third quarter worth approximately $30,000. TD Waterhouse Canada Inc. acquired a new position in shares of Cytokinetics in the 4th quarter valued at $32,000. Advisory Services Network LLC acquired a new position in shares of Cytokinetics in the 3rd quarter valued at $32,000. Finally, Northwestern Mutual Wealth Management Co. raised its position in Cytokinetics by 46.0% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 543 shares of the biopharmaceutical company’s stock valued at $35,000 after purchasing an additional 171 shares during the last quarter.

Cytokinetics Price Performance

CYTK stock opened at $64.85 on Friday. The business’s 50-day moving average is $63.33 and its two-hundred day moving average is $56.13. The firm has a market capitalization of $7.93 billion, a P/E ratio of -10.31 and a beta of 0.54. Cytokinetics has a 1 year low of $29.31 and a 1 year high of $70.98.

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.