Cytokinetics (NASDAQ:CYTK) Given Market Outperform Rating at JMP Securities

JMP Securities restated their market outperform rating on shares of Cytokinetics (NASDAQ:CYTK) in a research note released on Friday morning,Benzinga reports. JMP Securities currently has a $78.00 price objective on the biopharmaceutical company’s stock.

A number of other research firms have also recently weighed in on CYTK. Royal Bank of Canada increased their price objective on shares of Cytokinetics from $80.00 to $82.00 and gave the stock an “outperform” rating in a report on Wednesday, December 18th. Stifel Nicolaus initiated coverage on shares of Cytokinetics in a research note on Wednesday, January 22nd. They issued a “buy” rating and a $80.00 price target on the stock. Mizuho boosted their price objective on Cytokinetics from $99.00 to $103.00 and gave the stock an “outperform” rating in a research report on Thursday, November 21st. Citigroup assumed coverage on Cytokinetics in a research report on Friday. They issued a “buy” rating and a $86.00 target price on the stock. Finally, Cantor Fitzgerald reiterated an “overweight” rating on shares of Cytokinetics in a research report on Friday, October 18th. Two equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat, Cytokinetics has a consensus rating of “Moderate Buy” and an average price target of $83.00.

Cytokinetics Price Performance

Shares of NASDAQ CYTK opened at $42.76 on Friday. The company has a debt-to-equity ratio of 5.93, a current ratio of 9.28 and a quick ratio of 9.28. The firm has a market capitalization of $5.05 billion, a PE ratio of -7.95 and a beta of 0.83. Cytokinetics has a 1-year low of $42.72 and a 1-year high of $81.36. The business’s fifty day moving average price is $48.32 and its two-hundred day moving average price is $52.34.

Insider Buying and Selling at Cytokinetics

In other news, EVP Fady Ibraham Malik sold 6,342 shares of the stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $58.48, for a total transaction of $370,880.16. Following the completion of the sale, the executive vice president now owns 113,878 shares in the company, valued at approximately $6,659,585.44. This represents a 5.28 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director John T. Henderson sold 1,780 shares of the firm’s stock in a transaction on Wednesday, December 11th. The stock was sold at an average price of $50.42, for a total value of $89,747.60. Following the sale, the director now directly owns 38,461 shares of the company’s stock, valued at approximately $1,939,203.62. This represents a 4.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 39,464 shares of company stock valued at $2,025,686. 3.40% of the stock is owned by insiders.

Institutional Trading of Cytokinetics

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Van ECK Associates Corp increased its position in shares of Cytokinetics by 21.3% in the third quarter. Van ECK Associates Corp now owns 71,691 shares of the biopharmaceutical company’s stock worth $3,802,000 after acquiring an additional 12,565 shares in the last quarter. Westfield Capital Management Co. LP grew its position in Cytokinetics by 38.9% during the 3rd quarter. Westfield Capital Management Co. LP now owns 1,212,886 shares of the biopharmaceutical company’s stock worth $64,040,000 after purchasing an additional 339,373 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in Cytokinetics by 42.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,321,391 shares of the biopharmaceutical company’s stock valued at $69,769,000 after purchasing an additional 395,709 shares during the period. International Assets Investment Management LLC purchased a new stake in shares of Cytokinetics in the third quarter valued at $558,000. Finally, Cetera Investment Advisers boosted its position in shares of Cytokinetics by 128.5% in the second quarter. Cetera Investment Advisers now owns 27,320 shares of the biopharmaceutical company’s stock worth $1,480,000 after buying an additional 15,366 shares during the period.

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.