Cytokinetics (NASDAQ:CYTK) had its target price increased by investment analysts at Mizuho from $45.00 to $54.00 in a note issued to investors on Wednesday, The Fly reports. The brokerage presently has a “buy” rating on the biopharmaceutical company’s stock. Mizuho’s target price would indicate a potential upside of 37.26% from the company’s current price.
Other equities research analysts have also issued research reports about the company. Barclays upped their target price on Cytokinetics from $40.00 to $45.00 and gave the company an “overweight” rating in a research report on Tuesday, September 7th. Morgan Stanley boosted their price target on Cytokinetics from $38.00 to $45.00 and gave the company an “overweight” rating in a report on Friday, October 8th. HC Wainwright boosted their price target on Cytokinetics from $58.00 to $62.00 and gave the company a “buy” rating in a report on Thursday, November 4th. Cantor Fitzgerald boosted their price target on Cytokinetics from $48.00 to $57.00 and gave the company an “overweight” rating in a report on Tuesday, October 12th. Finally, Zacks Investment Research raised Cytokinetics from a “sell” rating to a “hold” rating in a report on Monday, November 15th. One research analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Buy” and an average price target of $51.42.
Shares of NASDAQ CYTK opened at $39.34 on Wednesday. The business’s 50 day moving average price is $37.44 and its 200 day moving average price is $30.28. The firm has a market cap of $3.30 billion, a P/E ratio of -12.73 and a beta of 1.27. Cytokinetics has a 52 week low of $16.05 and a 52 week high of $42.87. The company has a quick ratio of 6.12, a current ratio of 6.12 and a debt-to-equity ratio of 0.50.
Cytokinetics (NASDAQ:CYTK) last issued its earnings results on Wednesday, November 3rd. The biopharmaceutical company reported ($0.95) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.75) by ($0.20). The firm had revenue of $5.44 million during the quarter, compared to analysts’ expectations of $5.46 million. Cytokinetics had a negative net margin of 1,061.13% and a negative return on equity of 204.75%. During the same quarter in the prior year, the company earned ($0.05) EPS. As a group, research analysts expect that Cytokinetics will post -3.2 earnings per share for the current year.
In other Cytokinetics news, EVP Fady Ibraham Malik sold 2,000 shares of the company’s stock in a transaction on Thursday, September 9th. The stock was sold at an average price of $31.43, for a total value of $62,860.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director B Lynne Parshall sold 10,332 shares of the company’s stock in a transaction on Tuesday, October 19th. The shares were sold at an average price of $35.73, for a total value of $369,162.36. The disclosure for this sale can be found here. Insiders have sold 226,570 shares of company stock valued at $8,682,254 over the last quarter. 5.70% of the stock is owned by company insiders.
A number of large investors have recently modified their holdings of the business. First Horizon Advisors Inc. grew its holdings in shares of Cytokinetics by 1,827.1% during the 3rd quarter. First Horizon Advisors Inc. now owns 925 shares of the biopharmaceutical company’s stock worth $43,000 after purchasing an additional 877 shares during the period. US Bancorp DE grew its holdings in shares of Cytokinetics by 144.8% during the 2nd quarter. US Bancorp DE now owns 1,687 shares of the biopharmaceutical company’s stock worth $33,000 after purchasing an additional 998 shares during the period. Penserra Capital Management LLC grew its holdings in shares of Cytokinetics by 16.8% during the 3rd quarter. Penserra Capital Management LLC now owns 1,910 shares of the biopharmaceutical company’s stock worth $68,000 after purchasing an additional 275 shares during the period. Captrust Financial Advisors grew its holdings in shares of Cytokinetics by 1,422.1% during the 1st quarter. Captrust Financial Advisors now owns 2,131 shares of the biopharmaceutical company’s stock worth $50,000 after purchasing an additional 1,991 shares during the period. Finally, First Mercantile Trust Co. purchased a new position in shares of Cytokinetics during the 3rd quarter worth $86,000. Institutional investors own 91.62% of the company’s stock.
Cytokinetics Company Profile
Cytokinetics, Inc operates as a biopharmaceutical company. The firm focuses on the discovery and development of muscle activators as potential treatment for debilitating diseases. It conducts a Phase 2 clinical trials program for tirasemtiv, including a Phase 2b clinical trial in patients with ALS, known as BENEFIT-ALS (Blinded Evaluation of Neuromuscular Effects and Functional Improvement with Tirasemtiv in ALS).