Cytokinetics, Incorporated (NASDAQ:CYTK) Stock Has Consensus Target Price of $106.67 According to Brokerages

by · The Cerbat Gem

Shares of Cytokinetics, Incorporated (NASDAQ:CYTK – Get Free Report) have received an average rating of “Moderate Buy” from the twenty-one ratings firms that are currently covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and nineteen have assigned a buy recommendation to the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $106.67.

CYTK has been the topic of a number of research analyst reports. Weiss Ratings restated a “sell (d-)” rating on shares of Cytokinetics in a research note on Thursday, October 15th. Wall Street Zen raised shares of Cytokinetics from a “sell” rating to a “hold” rating in a research report on Saturday, November 7th. William Blair initiated coverage on shares of Cytokinetics in a research report on Friday, October 16th. They set an “outperform” rating for the company. Citizens Jmp upped their price objective on shares of Cytokinetics from $105.00 to $110.00 and gave the company a “market outperform” rating in a report on Friday, August 7th. Finally, Citigroup increased their price objective on shares of Cytokinetics from $99.00 to $105.00 and gave the company a “buy” rating in a research report on Thursday, November 5th.

Read Our Latest Stock Analysis on CYTK

Cytokinetics Price Performance

Cytokinetics stock opened at $56.16 on Friday. The firm has a market capitalization of $7.82 billion, a PE ratio of -9.30 and a beta of 0.45. The company’s 50-day moving average is $64.47 and its 200-day moving average is $69.82. Cytokinetics has a fifty-two week low of $53.55 and a fifty-two week high of $88.31.

Cytokinetics (NASDAQ:CYTK – Get Free Report) last posted its quarterly earnings results on Wednesday, November 4th. The biopharmaceutical company reported ($1.37) EPS for the quarter, topping analysts’ consensus estimates of ($1.43) by $0.06. The business had revenue of $47.56 million for the quarter, compared to the consensus estimate of $41.88 million. The company’s revenue for the quarter was up 2356.5% on a year-over-year basis. During the same quarter in the previous year, the business posted ($2.55) EPS. As a group, analysts expect that Cytokinetics will post -5.85 EPS for the current year.

Insider Activity at Cytokinetics

In related news, CEO Robert I. Blum sold 97,926 shares of the company’s stock in a transaction dated Tuesday, September 15th. The shares were sold at an average price of $69.33, for a total value of $6,789,209.58. Following the transaction, the chief executive officer owned 385,320 shares in the company, valued at approximately $26,714,235.60. This represents a 20.26% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director B. Parshall sold 5,000 shares of the stock in a transaction dated Tuesday, September 1st. The shares were sold at an average price of $71.48, for a total transaction of $357,400.00. Following the completion of the transaction, the director directly owned 10,784 shares in the company, valued at approximately $770,840.32. This represents a 31.68% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 178,426 shares of company stock worth $12,208,290 in the last quarter. Corporate insiders own 2.60% of the company’s stock.

Hedge Funds Weigh In On Cytokinetics

Institutional investors and hedge funds have recently made changes to their positions in the company. First Trust Advisors LP grew its holdings in Cytokinetics by 7.5% in the 3rd quarter. First Trust Advisors LP now owns 126,957 shares of the biopharmaceutical company’s stock valued at $8,368,000 after buying an additional 8,808 shares in the last quarter. GW&K Investment Management LLC lifted its holdings in shares of Cytokinetics by 11.1% during the third quarter. GW&K Investment Management LLC now owns 1,017,714 shares of the biopharmaceutical company’s stock worth $67,078,000 after buying an additional 101,607 shares in the last quarter. Private Advisor Group LLC lifted its holdings in shares of Cytokinetics by 27.5% during the third quarter. Private Advisor Group LLC now owns 9,233 shares of the biopharmaceutical company’s stock worth $609,000 after buying an additional 1,991 shares in the last quarter. Voya Investment Management LLC lifted its holdings in shares of Cytokinetics by 26.7% during the third quarter. Voya Investment Management LLC now owns 467,096 shares of the biopharmaceutical company’s stock worth $30,786,000 after buying an additional 98,398 shares in the last quarter. Finally, Impax Asset Management Group plc lifted its holdings in shares of Cytokinetics by 21.2% during the third quarter. Impax Asset Management Group plc now owns 200,000 shares of the biopharmaceutical company’s stock worth $13,182,000 after buying an additional 35,000 shares in the last quarter.

Cytokinetics Company Profile

(Get Free Report)

Cytokinetics is a biopharmaceutical company focused on discovering and developing medicines that target the biology of muscle function. Its research centers on therapies for conditions involving impaired cardiac muscle performance. The company’s work includes aficamten, a cardiac myosin inhibitor developed for hypertrophic cardiomyopathy, and other drug candidates designed to affect muscle contraction. Cytokinetics conducts research and clinical development through programs that may involve patients and collaborators in multiple countries.

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