Cytokinetics (NASDAQ:CYTK) Research Coverage Started at Barclays

Barclays started coverage on shares of Cytokinetics (NASDAQ:CYTK) in a report published on Wednesday, Marketbeat.com reports. The firm issued an overweight rating and a $87.00 price target on the biopharmaceutical company’s stock.

A number of other equities research analysts also recently issued reports on CYTK. Weiss Ratings reissued a “sell (d-)” rating on shares of Cytokinetics in a report on Wednesday, January 21st. JPMorgan Chase & Co. lifted their price target on Cytokinetics from $70.00 to $74.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 20th. The Goldman Sachs Group set a $95.00 price objective on shares of Cytokinetics and gave the stock a “buy” rating in a report on Thursday, December 18th. Jefferies Financial Group reissued a “buy” rating and issued a $90.00 target price on shares of Cytokinetics in a research note on Friday, January 9th. Finally, Citizens Jmp upped their price target on shares of Cytokinetics from $78.00 to $88.00 and gave the company a “market outperform” rating in a report on Monday, December 22nd. Sixteen analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $87.00.

Cytokinetics Stock Performance

Shares of CYTK opened at $63.19 on Wednesday. The firm has a market cap of $7.73 billion, a P/E ratio of -10.05 and a beta of 0.55. Cytokinetics has a fifty-two week low of $29.31 and a fifty-two week high of $70.98. The business has a 50-day moving average of $63.82 and a 200 day moving average of $54.62.

Cytokinetics (NASDAQ:CYTK) last posted its quarterly earnings results on Wednesday, November 5th. The biopharmaceutical company reported ($1.54) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.59) by $0.05. The business had revenue of $1.94 million during the quarter, compared to the consensus estimate of $6.05 million. The business’s revenue for the quarter was up 318.1% on a year-over-year basis. During the same period last year, the firm earned ($1.36) EPS. As a group, research analysts predict that Cytokinetics will post -5.24 earnings per share for the current fiscal year.

Insider Transactions at Cytokinetics

In other Cytokinetics news, EVP Andrew Callos sold 52,486 shares of the firm’s stock in a transaction on Friday, December 5th. The stock was sold at an average price of $65.95, for a total transaction of $3,461,451.70. Following the completion of the transaction, the executive vice president owned 50,660 shares of the company’s stock, valued at approximately $3,341,027. This trade represents a 50.89% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director John T. Henderson sold 8,750 shares of the business’s stock in a transaction on Tuesday, December 2nd. The shares were sold at an average price of $63.90, for a total transaction of $559,125.00. Following the sale, the director owned 74,578 shares in the company, valued at approximately $4,765,534.20. This trade represents a 10.50% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 150,169 shares of company stock worth $9,776,484. 2.70% of the stock is owned by insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. TD Waterhouse Canada Inc. bought a new stake in Cytokinetics during the fourth quarter worth about $32,000. Quarry LP purchased a new position in shares of Cytokinetics during the third quarter valued at approximately $30,000. Advisory Services Network LLC bought a new stake in shares of Cytokinetics in the 3rd quarter worth approximately $32,000. Johnson Financial Group Inc. purchased a new stake in shares of Cytokinetics in the 3rd quarter worth approximately $40,000. Finally, EverSource Wealth Advisors LLC grew its stake in shares of Cytokinetics by 723.7% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 766 shares of the biopharmaceutical company’s stock worth $25,000 after buying an additional 673 shares during the last quarter.

About Cytokinetics

Cytokinetics, Inc is a late?stage biopharmaceutical company focused on the discovery and development of novel small?molecule therapeutics that modulate muscle function. Founded in 1998 and headquartered in South San Francisco, California, the company applies its proprietary insights in muscle biology to address diseases characterized by impaired muscle performance. Its research spans both cardiac and skeletal muscle targets, aiming to deliver innovative medicines for conditions with significant unmet medical need.

The company’s most advanced program, omecamtiv mecarbil, is being evaluated for the treatment of heart failure by enhancing cardiac muscle contractility.