Cytokinetics’ (CYTK) Market Outperform Rating Reaffirmed at JMP Securities

Cytokinetics (NASDAQ:CYTK)‘s stock had its “market outperform” rating reaffirmed by analysts at JMP Securities in a research report issued to clients and investors on Friday,Benzinga reports. They currently have a $78.00 price objective on the biopharmaceutical company’s stock. JMP Securities’ price target would indicate a potential upside of 78.64% from the company’s previous close.

Several other brokerages also recently weighed in on CYTK. Royal Bank of Canada raised their price target on Cytokinetics from $80.00 to $82.00 and gave the stock an “outperform” rating in a report on Wednesday, December 18th. Needham & Company LLC restated a “buy” rating and set a $72.00 price objective on shares of Cytokinetics in a research report on Thursday. Citigroup assumed coverage on Cytokinetics in a research note on Friday. They issued a “buy” rating and a $86.00 price objective for the company. HC Wainwright restated a “buy” rating and issued a $120.00 price target on shares of Cytokinetics in a research report on Tuesday, January 21st. Finally, Mizuho increased their price target on shares of Cytokinetics from $99.00 to $103.00 and gave the company an “outperform” rating in a research note on Thursday, November 21st. Two equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $83.00.

Cytokinetics Stock Down 5.4 %

NASDAQ:CYTK traded down $2.51 during mid-day trading on Friday, reaching $43.66. The company’s stock had a trading volume of 1,171,418 shares, compared to its average volume of 1,261,475. The firm has a market capitalization of $5.15 billion, a PE ratio of -8.11 and a beta of 0.83. The stock has a fifty day moving average of $48.50 and a 200-day moving average of $52.51. The company has a quick ratio of 9.28, a current ratio of 9.28 and a debt-to-equity ratio of 5.93. Cytokinetics has a 1 year low of $43.55 and a 1 year high of $81.36.

Cytokinetics (NASDAQ:CYTK) last announced its earnings results on Wednesday, November 6th. The biopharmaceutical company reported ($1.36) EPS for the quarter, missing analysts’ consensus estimates of ($1.27) by ($0.09). The business had revenue of $0.46 million for the quarter, compared to analyst estimates of $1.21 million. During the same period in the previous year, the company earned ($1.35) EPS. The business’s quarterly revenue was up 22.5% compared to the same quarter last year. Equities research analysts forecast that Cytokinetics will post -5.25 earnings per share for the current year.

Insider Transactions at Cytokinetics

In other Cytokinetics news, CEO Robert I. Blum sold 5,000 shares of the stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $50.55, for a total value of $252,750.00. Following the completion of the transaction, the chief executive officer now directly owns 397,456 shares of the company’s stock, valued at approximately $20,091,400.80. This trade represents a 1.24 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Fady Ibraham Malik sold 2,000 shares of the business’s stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $48.06, for a total value of $96,120.00. Following the sale, the executive vice president now directly owns 116,071 shares in the company, valued at $5,578,372.26. This trade represents a 1.69 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 39,464 shares of company stock worth $2,025,686. Company insiders own 3.40% of the company’s stock.

Hedge Funds Weigh In On Cytokinetics

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Creative Planning increased its position in Cytokinetics by 56.1% during the 2nd quarter. Creative Planning now owns 15,727 shares of the biopharmaceutical company’s stock worth $852,000 after purchasing an additional 5,649 shares in the last quarter. Cetera Investment Advisers raised its position in shares of Cytokinetics by 128.5% during the 2nd quarter. Cetera Investment Advisers now owns 27,320 shares of the biopharmaceutical company’s stock valued at $1,480,000 after acquiring an additional 15,366 shares in the last quarter. Handelsbanken Fonder AB lifted its position in shares of Cytokinetics by 25.1% in the 3rd quarter. Handelsbanken Fonder AB now owns 29,400 shares of the biopharmaceutical company’s stock worth $1,552,000 after buying an additional 5,900 shares during the last quarter. UMB Bank n.a. boosted its stake in Cytokinetics by 65.6% in the third quarter. UMB Bank n.a. now owns 601 shares of the biopharmaceutical company’s stock valued at $32,000 after acquiring an additional 238 shares during the period. Finally, Inspire Investing LLC grew its stake in Cytokinetics by 20.0% during the 3rd quarter. Inspire Investing LLC now owns 7,888 shares of the biopharmaceutical company’s stock worth $416,000 after buying an additional 1,317 shares during the last quarter.

About Cytokinetics

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.