Brokerages expect Cytokinetics, Incorporated (NASDAQ:CYTK – Get Rating) to announce sales of $3.44 million for the current quarter, according to Zacks Investment Research. Five analysts have provided estimates for Cytokinetics’ earnings, with the highest sales estimate coming in at $6.00 million and the lowest estimate coming in at $1.15 million. Cytokinetics posted sales of $2.84 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 21.1%. The company is scheduled to report its next earnings results on Monday, January 1st.
According to Zacks, analysts expect that Cytokinetics will report full year sales of $16.21 million for the current fiscal year, with estimates ranging from $4.59 million to $25.00 million. For the next financial year, analysts forecast that the business will post sales of $89.97 million, with estimates ranging from $23.69 million to $188.12 million. Zacks’ sales averages are an average based on a survey of research analysts that that provide coverage for Cytokinetics.
Cytokinetics (NASDAQ:CYTK – Get Rating) last announced its earnings results on Wednesday, May 4th. The biopharmaceutical company reported ($1.02) EPS for the quarter, missing the consensus estimate of ($0.93) by ($0.09). Cytokinetics had a negative net margin of 396.22% and a negative return on equity of 163.01%. The company had revenue of $1.15 million for the quarter, compared to analysts’ expectations of $4.72 million. During the same period in the prior year, the company earned ($0.66) earnings per share. The company’s revenue for the quarter was down 82.5% on a year-over-year basis.
Shares of NASDAQ CYTK opened at $38.84 on Friday. Cytokinetics has a 12 month low of $17.72 and a 12 month high of $47.90. The company has a market cap of $3.33 billion, a price-to-earnings ratio of -12.06 and a beta of 1.22. The company has a quick ratio of 9.33, a current ratio of 9.33 and a debt-to-equity ratio of 1.68. The business has a fifty day simple moving average of $39.46 and a 200-day simple moving average of $37.80.
In other news, EVP Fady Ibraham Malik sold 13,987 shares of the stock in a transaction dated Thursday, May 12th. The stock was sold at an average price of $37.54, for a total transaction of $525,071.98. Following the transaction, the executive vice president now owns 168,084 shares of the company’s stock, valued at approximately $6,309,873.36. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Robert I. Blum sold 10,000 shares of the stock in a transaction that occurred on Monday, March 21st. The shares were sold at an average price of $36.03, for a total value of $360,300.00. The disclosure for this sale can be found here. In the last three months, insiders have sold 137,331 shares of company stock worth $5,331,070. 5.00% of the stock is currently owned by insiders.
Hedge funds have recently made changes to their positions in the business. Bain Capital Public Equity Management II LLC lifted its position in shares of Cytokinetics by 143.8% in the 3rd quarter. Bain Capital Public Equity Management II LLC now owns 651,613 shares of the biopharmaceutical company’s stock worth $23,289,000 after acquiring an additional 384,347 shares during the period. Deerfield Management Company L.P. Series C lifted its position in shares of Cytokinetics by 24.1% in the 3rd quarter. Deerfield Management Company L.P. Series C now owns 1,536,758 shares of the biopharmaceutical company’s stock worth $54,924,000 after acquiring an additional 298,675 shares during the period. ETF Managers Group LLC bought a new stake in shares of Cytokinetics in the 4th quarter worth approximately $386,000. Comerica Bank lifted its position in shares of Cytokinetics by 12.9% in the 3rd quarter. Comerica Bank now owns 75,555 shares of the biopharmaceutical company’s stock worth $2,798,000 after acquiring an additional 8,645 shares during the period. Finally, UBS Asset Management Americas Inc. lifted its position in shares of Cytokinetics by 10.3% during the 3rd quarter. UBS Asset Management Americas Inc. now owns 69,410 shares of the biopharmaceutical company’s stock worth $2,481,000 after buying an additional 6,475 shares during the period.
Cytokinetics Company Profile (Get Rating)
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.
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