Cytokinetics, Incorporated (NASDAQ:CYTK) Given Average Rating of “Moderate Buy” by Brokerages

Shares of Cytokinetics, Incorporated (NASDAQ:CYTK) have received an average recommendation of “Moderate Buy” from the eighteen analysts that are currently covering the stock, Marketbeat Ratings reports. Two analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company. The average 1 year price target among brokerages that have covered the stock in the last year is $82.00.

Several research analysts have recently weighed in on the company. HC Wainwright restated a “buy” rating and issued a $120.00 price target on shares of Cytokinetics in a research note on Tuesday, January 21st. Morgan Stanley raised Cytokinetics from an “equal weight” rating to an “overweight” rating and cut their price target for the company from $70.00 to $67.00 in a report on Thursday, February 13th. Mizuho boosted their price target on Cytokinetics from $99.00 to $103.00 and gave the company an “outperform” rating in a report on Thursday, November 21st. Evercore ISI raised Cytokinetics to a “strong-buy” rating in a research note on Friday, February 7th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $72.00 price objective on shares of Cytokinetics in a research note on Thursday, February 6th.

Cytokinetics Stock Down 3.1 %

Shares of NASDAQ:CYTK opened at $46.65 on Friday. The stock has a fifty day simple moving average of $47.25 and a two-hundred day simple moving average of $51.41. The stock has a market capitalization of $5.51 billion, a price-to-earnings ratio of -8.67 and a beta of 0.83. Cytokinetics has a 12-month low of $40.53 and a 12-month high of $81.36. The company has a current ratio of 9.28, a quick ratio of 9.28 and a debt-to-equity ratio of 5.93.

Insider Activity

In related news, CEO Robert I. Blum sold 5,000 shares of the stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $50.76, for a total value of $253,800.00. Following the transaction, the chief executive officer now owns 397,678 shares of the company’s stock, valued at $20,186,135.28. This represents a 1.24 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Fady Ibraham Malik sold 2,000 shares of the stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $45.98, for a total value of $91,960.00. Following the sale, the executive vice president now directly owns 116,071 shares in the company, valued at $5,336,944.58. This trade represents a 1.69 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 22,822 shares of company stock valued at $1,127,848. 3.40% of the stock is currently owned by insiders.

Institutional Trading of Cytokinetics

Hedge funds and other institutional investors have recently made changes to their positions in the business. Louisiana State Employees Retirement System lifted its holdings in shares of Cytokinetics by 0.6% in the 3rd quarter. Louisiana State Employees Retirement System now owns 32,600 shares of the biopharmaceutical company’s stock valued at $1,721,000 after buying an additional 200 shares during the period. Jones Financial Companies Lllp lifted its stake in Cytokinetics by 189.8% during the fourth quarter. Jones Financial Companies Lllp now owns 571 shares of the biopharmaceutical company’s stock worth $27,000 after purchasing an additional 374 shares in the last quarter. Nisa Investment Advisors LLC lifted its stake in Cytokinetics by 2.9% during the third quarter. Nisa Investment Advisors LLC now owns 15,062 shares of the biopharmaceutical company’s stock worth $795,000 after purchasing an additional 430 shares in the last quarter. MetLife Investment Management LLC increased its position in shares of Cytokinetics by 0.4% during the third quarter. MetLife Investment Management LLC now owns 123,308 shares of the biopharmaceutical company’s stock worth $6,511,000 after acquiring an additional 538 shares during the period. Finally, Retirement Systems of Alabama increased its holdings in Cytokinetics by 0.4% in the fourth quarter. Retirement Systems of Alabama now owns 143,495 shares of the biopharmaceutical company’s stock valued at $6,750,000 after buying an additional 565 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.