Analysts Set Cytokinetics, Incorporated (NASDAQ:CYTK) PT at $70.92

Shares of Cytokinetics, Incorporated (NASDAQ:CYTK) have been assigned an average rating of “Moderate Buy” from the fifteen brokerages that are covering the firm, Marketbeat.com reports. Three equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have given a strong buy rating to the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $70.92.

CYTK has been the topic of several recent research reports. HC Wainwright reaffirmed a “buy” rating and set a $120.00 target price on shares of Cytokinetics in a report on Monday, April 21st. JPMorgan Chase & Co. cut their price target on shares of Cytokinetics from $71.00 to $53.00 and set an “overweight” rating on the stock in a report on Monday, June 9th. Needham & Company LLC reissued a “buy” rating and issued a $72.00 price target on shares of Cytokinetics in a report on Wednesday, May 14th. Cantor Fitzgerald raised shares of Cytokinetics to a “strong-buy” rating in a report on Tuesday, May 13th. Finally, Citigroup cut their price target on shares of Cytokinetics from $86.00 to $80.00 and set a “buy” rating on the stock in a report on Wednesday, May 7th.

Insider Activity

In other news, CEO Robert I. Blum sold 15,000 shares of Cytokinetics stock in a transaction dated Monday, March 31st. The shares were sold at an average price of $40.75, for a total transaction of $611,250.00. Following the sale, the chief executive officer now owns 427,629 shares of the company’s stock, valued at approximately $17,425,881.75. The trade was a 3.39% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Wendall Wierenga sold 20,000 shares of Cytokinetics stock in a transaction dated Monday, April 21st. The shares were sold at an average price of $38.46, for a total transaction of $769,200.00. Following the sale, the director now directly owns 24,848 shares in the company, valued at $955,654.08. The trade was a 44.60% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 81,277 shares of company stock valued at $2,998,921. Corporate insiders own 2.70% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Raymond James Financial Inc. purchased a new position in Cytokinetics during the 4th quarter valued at about $254,000. AlphaQuest LLC lifted its position in Cytokinetics by 113,500.0% during the 4th quarter. AlphaQuest LLC now owns 1,136 shares of the biopharmaceutical company’s stock valued at $53,000 after acquiring an additional 1,135 shares during the period. Vanguard Group Inc. lifted its position in Cytokinetics by 1.3% during the 4th quarter. Vanguard Group Inc. now owns 11,915,821 shares of the biopharmaceutical company’s stock valued at $560,520,000 after acquiring an additional 154,216 shares during the period. Charles Schwab Investment Management Inc. lifted its position in Cytokinetics by 1.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,335,189 shares of the biopharmaceutical company’s stock valued at $62,807,000 after acquiring an additional 13,798 shares during the period. Finally, New York State Common Retirement Fund lifted its position in Cytokinetics by 2.9% during the 4th quarter. New York State Common Retirement Fund now owns 35,567 shares of the biopharmaceutical company’s stock valued at $1,673,000 after acquiring an additional 1,000 shares during the period.

Cytokinetics Stock Performance

CYTK stock opened at $33.16 on Thursday. Cytokinetics has a 52 week low of $29.31 and a 52 week high of $61.38. The firm’s fifty day moving average is $33.79 and its 200 day moving average is $41.08. The firm has a market cap of $3.96 billion, a P/E ratio of -6.27 and a beta of 0.59.

Cytokinetics (NASDAQ:CYTK) last released its earnings results on Tuesday, May 6th. The biopharmaceutical company reported ($1.36) EPS for the quarter, beating the consensus estimate of ($1.41) by $0.05. The business had revenue of $1.60 million for the quarter, compared to the consensus estimate of $2.77 million. During the same period in the prior year, the business posted ($1.33) EPS. Cytokinetics’s revenue for the quarter was up 89.1% on a year-over-year basis. As a group, analysts forecast that Cytokinetics will post -5.24 EPS for the current year.

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.