Cytokinetics (NASDAQ:CYTK) Given New $95.00 Price Target at Barclays

Cytokinetics (NASDAQ:CYTK) had its target price decreased by Barclays from $100.00 to $95.00 in a report issued on Thursday, Benzinga reports. Barclays currently has an overweight rating on the biopharmaceutical company’s stock.

Several other brokerages also recently commented on CYTK. Mizuho dropped their target price on Cytokinetics from $103.00 to $99.00 and set a buy rating on the stock in a report on Wednesday, March 6th. HC Wainwright reissued a buy rating and set a $94.00 target price on shares of Cytokinetics in a research report on Tuesday, May 14th. Raymond James lowered their price target on shares of Cytokinetics from $92.00 to $70.00 and set an outperform rating for the company in a report on Thursday. Oppenheimer dropped their price target on shares of Cytokinetics from $107.00 to $106.00 and set an outperform rating on the stock in a research note on Thursday, May 9th. Finally, JMP Securities decreased their price objective on shares of Cytokinetics from $110.00 to $106.00 and set a market outperform rating for the company in a research report on Thursday, May 9th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of Moderate Buy and a consensus price target of $77.47.

Cytokinetics Stock Down 17.3 %

Cytokinetics stock opened at $48.98 on Thursday. The firm has a fifty day moving average of $66.14 and a 200-day moving average of $63.45. Cytokinetics has a 52-week low of $25.98 and a 52-week high of $110.25. The firm has a market capitalization of $5.14 billion, a P/E ratio of -9.07 and a beta of 0.72.

Cytokinetics (NASDAQ:CYTK) last announced its quarterly earnings results on Wednesday, May 8th. The biopharmaceutical company reported ($1.33) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.16) by ($0.17). The company had revenue of $0.84 million during the quarter, compared to analysts’ expectations of $0.91 million. The company’s quarterly revenue was down 81.8% compared to the same quarter last year. During the same period in the prior year, the company posted ($1.38) EPS. On average, research analysts expect that Cytokinetics will post -4.73 EPS for the current fiscal year.

Insider Buying and Selling

In other Cytokinetics news, Director John T. Henderson sold 10,562 shares of the business’s stock in a transaction on Thursday, April 25th. The shares were 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 $2,069,797.80. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Cytokinetics news, Director John T. Henderson sold 10,562 shares of Cytokinetics stock in a transaction that occurred on Thursday, April 25th. The stock was sold at an average price of $64.54, for a total value of $681,671.48. Following the completion of the transaction, the director now directly owns 32,070 shares in the company, valued at $2,069,797.80. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Fady Ibraham Malik sold 32,604 shares of the stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $67.56, for a total value of $2,202,726.24. Following the sale, the executive vice president now owns 138,973 shares in the company, valued at $9,389,015.88. The disclosure for this sale can be found here. Insiders have sold 91,318 shares of company stock worth $6,319,540 over the last ninety days. 3.40% of the stock is owned by insiders.

Hedge Funds Weigh In On Cytokinetics

Several hedge funds and other institutional investors have recently modified their holdings of CYTK. Maryland State Retirement & Pension System lifted its position in Cytokinetics by 0.8% in the 4th quarter. Maryland State Retirement & Pension System now owns 35,637 shares of the biopharmaceutical company’s stock valued at $2,975,000 after purchasing an additional 278 shares during the last quarter. Quadrant Capital Group LLC grew its holdings in Cytokinetics by 9.6% in the 4th quarter. Quadrant Capital Group LLC now owns 3,268 shares of the biopharmaceutical company’s stock worth $273,000 after buying an additional 287 shares in the last quarter. Fifth Third Bancorp increased its position in Cytokinetics by 94.1% in the 1st quarter. Fifth Third Bancorp now owns 656 shares of the biopharmaceutical company’s stock valued at $46,000 after acquiring an additional 318 shares during the period. Mutual of America Capital Management LLC raised its stake in Cytokinetics by 2.0% during the 4th quarter. Mutual of America Capital Management LLC now owns 17,162 shares of the biopharmaceutical company’s stock valued at $1,433,000 after acquiring an additional 337 shares in the last quarter. Finally, PNC Financial Services Group Inc. boosted its position in Cytokinetics by 4.8% during the 3rd quarter. PNC Financial Services Group Inc. now owns 7,373 shares of the biopharmaceutical company’s stock worth $217,000 after acquiring an additional 340 shares during the period.

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.