Cytokinetics, Incorporated (NASDAQ:CYTK) Receives Consensus Rating of “Moderate Buy” from Brokerages

Cytokinetics, Incorporated (NASDAQ:CYTK) has been assigned an average recommendation of “Moderate Buy” from the fifteen ratings firms that are currently covering the stock, MarketBeat.com reports. Two research analysts have rated the stock with a hold recommendation and thirteen have issued a buy recommendation on the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $79.33.

Several brokerages have recently weighed in on CYTK. HC Wainwright restated a “buy” rating and set a $94.00 price target on shares of Cytokinetics in a report on Wednesday, February 28th. Oppenheimer restated an “outperform” rating and set a $107.00 price target on shares of Cytokinetics in a report on Monday, March 4th. StockNews.com downgraded Cytokinetics from a “hold” rating to a “sell” rating in a report on Friday, January 5th. Morgan Stanley reiterated an “equal weight” rating and issued a $90.00 price objective (up from $60.00) on shares of Cytokinetics in a report on Friday, January 5th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $108.00 price objective on shares of Cytokinetics in a report on Tuesday, April 9th.

Insider Buying and Selling at Cytokinetics

In other Cytokinetics news, Director John T. Henderson sold 5,000 shares of the business’s stock in a transaction dated Wednesday, February 14th. The stock was sold at an average price of $76.48, for a total transaction of $382,400.00. Following the completion of the sale, the director now directly owns 42,632 shares in the company, valued at approximately $3,260,495.36. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In related news, Director John T. Henderson sold 5,000 shares of the business’s stock in a transaction that occurred on Wednesday, February 14th. The stock was sold at an average price of $76.48, for a total transaction of $382,400.00. Following the completion of the transaction, the director now directly owns 42,632 shares in the company, valued at approximately $3,260,495.36. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director John T. Henderson sold 10,562 shares of the business’s stock in a transaction that occurred on Thursday, April 25th. The shares were sold at an average price of $64.54, for a total value of $681,671.48. Following the transaction, the director now owns 32,070 shares of the company’s stock, valued at $2,069,797.80. The disclosure for this sale can be found here. Insiders sold a total of 113,376 shares of company stock worth $8,275,252 in the last three months. 3.40% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. grew its stake in shares of Cytokinetics by 2.5% during the 4th quarter. Vanguard Group Inc. now owns 11,016,889 shares of the biopharmaceutical company’s stock valued at $919,800,000 after acquiring an additional 273,565 shares during the period. First Turn Management LLC bought a new position in Cytokinetics in the 4th quarter worth approximately $67,414,000. Charles Schwab Investment Management Inc. boosted its stake in Cytokinetics by 4.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 789,969 shares of the biopharmaceutical company’s stock worth $65,955,000 after purchasing an additional 33,257 shares during the period. Norges Bank bought a new position in Cytokinetics in the 4th quarter worth approximately $60,299,000. Finally, Assenagon Asset Management S.A. bought a new position in Cytokinetics in the 4th quarter worth approximately $46,308,000.

Cytokinetics Trading Up 1.4 %

Shares of Cytokinetics stock opened at $65.27 on Friday. Cytokinetics has a 12 month low of $25.98 and a 12 month high of $110.25. The business has a fifty day simple moving average of $68.82 and a two-hundred day simple moving average of $60.60. The firm has a market capitalization of $6.83 billion, a P/E ratio of -11.98 and a beta of 0.72.

Cytokinetics (NASDAQ:CYTK) last issued its quarterly earnings results on Tuesday, February 27th. The biopharmaceutical company reported ($1.38) earnings per share for the quarter, missing the consensus estimate of ($1.03) by ($0.35). The firm had revenue of $1.70 million during the quarter, compared to analysts’ expectations of $7.62 million. During the same period in the previous year, the firm earned ($1.45) EPS. Cytokinetics’s quarterly revenue was down 10.5% on a year-over-year basis. Analysts predict that Cytokinetics will post -4.5 earnings per share 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.