Cytokinetics (CYTK) to Release Quarterly Earnings on Wednesday

Cytokinetics (NASDAQ:CYTK) is scheduled to announce its earnings results after the market closes on Wednesday, May 8th. Analysts expect the company to announce earnings of ($1.16) per share for the quarter. Cytokinetics has set its FY 2024 guidance at EPS.Persons that wish to register for the company’s earnings conference call can do so using this link.

Cytokinetics (NASDAQ:CYTK) last announced its quarterly earnings results on Tuesday, February 27th. The biopharmaceutical company reported ($1.38) earnings per share for the quarter, missing the consensus estimate of ($1.03) by ($0.35). The firm had revenue of $1.70 million during the quarter, compared to analysts’ expectations of $7.62 million. The firm’s revenue for the quarter was down 10.5% on a year-over-year basis. During the same quarter in the previous year, the company posted ($1.45) EPS. On average, analysts expect Cytokinetics to post $-5 EPS for the current fiscal year and $-3 EPS for the next fiscal year.

Cytokinetics Stock Up 1.4 %

Shares of NASDAQ:CYTK opened at $65.27 on Monday. Cytokinetics has a 12 month low of $25.98 and a 12 month high of $110.25. The company has a 50 day moving average of $68.57 and a 200 day moving average of $61.18.

Insider Activity at Cytokinetics

In other Cytokinetics news, EVP Fady Ibraham Malik sold 32,605 shares of Cytokinetics stock in a transaction that occurred on Tuesday, February 6th. The stock was sold at an average price of $79.30, for a total transaction of $2,585,576.50. Following the sale, the executive vice president now directly owns 142,973 shares of the company’s stock, valued at approximately $11,337,758.90. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, EVP Fady Ibraham Malik sold 32,605 shares of the company’s stock in a transaction dated Tuesday, February 6th. The shares were sold at an average price of $79.30, for a total value of $2,585,576.50. Following the sale, the executive vice president now directly owns 142,973 shares of the company’s stock, valued at approximately $11,337,758.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director John T. Henderson sold 10,562 shares of the company’s stock in a transaction dated Thursday, April 25th. The stock was sold at an average price of $64.54, for a total transaction of $681,671.48. Following the completion of the sale, the director now owns 32,070 shares in the company, valued at approximately $2,069,797.80. The disclosure for this sale can be found here. Insiders have sold 113,376 shares of company stock worth $8,275,252 over the last 90 days. 3.40% of the stock is owned by company insiders.

Analysts Set New Price Targets

CYTK has been the subject of several research analyst reports. Mizuho dropped their price objective on Cytokinetics from $103.00 to $99.00 and set a “buy” rating for the company in a research note on Wednesday, March 6th. Needham & Company LLC restated a “buy” rating and set a $108.00 price objective on shares of Cytokinetics in a research report on Tuesday, April 9th. Truist Financial reiterated a “buy” rating and issued a $86.00 target price on shares of Cytokinetics in a research report on Monday, April 8th. UBS Group cut Cytokinetics from a “buy” rating to a “neutral” rating and raised their price objective for the company from $61.00 to $92.00 in a report on Wednesday, January 24th. Finally, HC Wainwright reissued a “buy” rating and set a $94.00 price target on shares of Cytokinetics in a research note on Wednesday, February 28th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $79.33.

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.