Cowen and Company restated their outperform rating on shares of Cytokinetics Inc. (NASDAQ:CYTK) in a research report sent to investors on Wednesday. Cowen and Company currently has a $16.00 price objective on the biopharmaceutical company’s stock.
Other equities analysts have also recently issued research reports about the stock. Needham & Company LLC reissued a buy rating and issued a $17.00 price target on shares of Cytokinetics in a research note on Thursday, September 1st. Piper Jaffray Cos. reissued an overweight rating and issued a $24.00 price target on shares of Cytokinetics in a research note on Tuesday, July 12th. Zacks Investment Research raised shares of Cytokinetics from a hold rating to a buy rating and set a $10.00 price target for the company in a research note on Tuesday, September 27th. FBR & Co reissued a buy rating on shares of Cytokinetics in a research note on Friday, September 9th. Finally, Roth Capital reissued a buy rating and issued a $22.00 price target on shares of Cytokinetics in a research note on Thursday, August 18th. Eight analysts have rated the stock with a buy rating, The company has a consensus rating of Buy and a consensus price target of $18.00.
Shares of Cytokinetics (NASDAQ:CYTK) traded up 2.01% during trading on Wednesday, reaching $9.65. 32,289 shares of the company were exchanged. Cytokinetics has a one year low of $6.00 and a one year high of $13.18. The stock has a 50-day moving average price of $9.92 and a 200-day moving average price of $9.19. The stock’s market capitalization is $383.13 million.
Cytokinetics (NASDAQ:CYTK) last issued its quarterly earnings data on Thursday, July 28th. The biopharmaceutical company reported ($0.29) EPS for the quarter, missing the consensus estimate of ($0.28) by $0.02. Cytokinetics had a negative net margin of 132.01% and a negative return on equity of 69.51%. Analysts forecast that Cytokinetics will post ($1.30) EPS for the current year.
Large investors have recently made changes to their positions in the stock. Wellington Management Group LLP boosted its stake in shares of Cytokinetics by 651.4% in the first quarter. Wellington Management Group LLP now owns 1,928,693 shares of the biopharmaceutical company’s stock worth $13,597,000 after buying an additional 1,672,028 shares during the period. Sphera Funds Management LTD. purchased a new stake in Cytokinetics during the first quarter worth approximately $2,411,000. BVF Inc. IL raised its stake in Cytokinetics by 48.6% in the first quarter. BVF Inc. IL now owns 4,340,729 shares of the biopharmaceutical company’s stock worth $30,602,000 after buying an additional 1,420,101 shares in the last quarter. Bank of Montreal Can purchased a new stake in Cytokinetics during the second quarter worth approximately $126,000. Finally, Strs Ohio raised its stake in Cytokinetics by 8.3% in the second quarter. Strs Ohio now owns 64,900 shares of the biopharmaceutical company’s stock worth $615,000 after buying an additional 5,000 shares in the last quarter. 67.30% of the stock is owned by institutional investors.
Cytokinetics Company Profile
Cytokinetics, Incorporated is a biopharmaceutical company. The Company is focused on the discovery and development of small molecule therapeutics that modulate muscle function for the treatment of serious diseases and medical conditions. Its drug candidates include tirasemtiv, CK-2127107 and omecamtiv mecarbil.
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