Cytokinetics’ (CYTK) Buy Rating Reiterated at HC Wainwright

HC Wainwright reiterated their buy rating on shares of Cytokinetics (NASDAQ:CYTK) in a research note released on Tuesday morning,Benzinga reports. HC Wainwright currently has a $120.00 price objective on the biopharmaceutical company’s stock.

Several other research analysts also recently issued reports on CYTK. Needham & Company LLC restated a “buy” rating and set a $72.00 price objective on shares of Cytokinetics in a research report on Monday, December 2nd. JMP Securities reaffirmed a “market outperform” rating and set a $78.00 price objective on shares of Cytokinetics in a research note on Tuesday, January 14th. Royal Bank of Canada boosted their target price on shares of Cytokinetics from $80.00 to $82.00 and gave the company an “outperform” rating in a research note on Wednesday, December 18th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Cytokinetics in a research note on Friday, October 18th. Finally, Mizuho boosted their price objective on shares of Cytokinetics from $99.00 to $103.00 and gave the company an “outperform” rating in a research report on Thursday, November 21st. Three equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $83.40.

Cytokinetics Price Performance

Shares of NASDAQ CYTK opened at $47.86 on Tuesday. The company has a debt-to-equity ratio of 5.93, a quick ratio of 9.28 and a current ratio of 9.28. Cytokinetics has a one year low of $44.49 and a one year high of $84.11. The company’s fifty day moving average is $48.80 and its two-hundred day moving average is $53.00. The firm has a market capitalization of $5.65 billion, a P/E ratio of -8.90 and a beta of 0.82.

Cytokinetics (NASDAQ:CYTK) last issued its quarterly earnings data on Wednesday, November 6th. The biopharmaceutical company reported ($1.36) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.27) by ($0.09). The company had revenue of $0.46 million during the quarter, compared to analysts’ expectations of $1.21 million. During the same period in the previous year, the company posted ($1.35) earnings per share. The business’s revenue was up 22.5% compared to the same quarter last year. Analysts forecast that Cytokinetics will post -5.23 EPS for the current fiscal year.

Insider Transactions at Cytokinetics

In related news, EVP Fady Ibraham Malik sold 7,300 shares of the company’s stock in a transaction on Wednesday, October 30th. The shares were sold at an average price of $51.91, for a total transaction of $378,943.00. Following the completion of the sale, the executive vice president now directly owns 114,920 shares of the company’s stock, valued at approximately $5,965,497.20. This represents a 5.97 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Wendall Wierenga sold 742 shares of the firm’s stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $48.61, for a total value of $36,068.62. Following the completion of the transaction, the director now directly owns 24,559 shares in the company, valued at $1,193,812.99. This trade represents a 2.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 54,216 shares of company stock worth $2,799,276 in the last three months. 3.40% of the stock is currently owned by company insiders.

Institutional Trading of Cytokinetics

Large investors have recently bought and sold shares of the company. R Squared Ltd acquired a new stake in shares of Cytokinetics during the fourth quarter valued at about $133,000. Pacer Advisors Inc. grew its stake in Cytokinetics by 2.9% during the 4th quarter. Pacer Advisors Inc. now owns 24,843 shares of the biopharmaceutical company’s stock valued at $1,169,000 after purchasing an additional 690 shares in the last quarter. Blue Trust Inc. increased its holdings in Cytokinetics by 85.8% during the 4th quarter. Blue Trust Inc. now owns 1,823 shares of the biopharmaceutical company’s stock worth $86,000 after purchasing an additional 842 shares during the last quarter. Inspire Investing LLC raised its position in shares of Cytokinetics by 7.8% in the 4th quarter. Inspire Investing LLC now owns 8,504 shares of the biopharmaceutical company’s stock valued at $400,000 after purchasing an additional 616 shares in the last quarter. Finally, Mirador Capital Partners LP boosted its stake in shares of Cytokinetics by 1.6% during the 4th quarter. Mirador Capital Partners LP now owns 65,636 shares of the biopharmaceutical company’s stock valued at $3,088,000 after buying an additional 1,010 shares during the last quarter.

Cytokinetics Company Profile

Cytokinetics, Incorporated, a late-stage biopharmaceutical company, focuses on discovering, developing, and commercializing muscle activators and inhibitors as potential treatments for debilitating diseases. The company develops small molecule drug candidates primarily engineered to impact muscle function and contractility.