Cytokinetics (NASDAQ:CYTK) received a $20.00 price target from investment analysts at HC Wainwright in a research report issued on Friday. The firm presently has a “buy” rating on the biopharmaceutical company’s stock. HC Wainwright’s target price would indicate a potential upside of 127.27% from the stock’s current price.
Several other equities research analysts also recently weighed in on the stock. TheStreet downgraded shares of Cytokinetics from a “c” rating to a “d” rating in a research report on Friday, October 27th. JMP Securities reissued an “outperform” rating and set a $13.00 target price (down from $17.00) on shares of Cytokinetics in a research note on Tuesday, November 21st. They noted that the move was a valuation call. Cantor Fitzgerald lowered shares of Cytokinetics from an “overweight” rating to a “neutral” rating and reduced their price target for the stock from $21.00 to $10.00 in a research note on Wednesday, November 22nd. Needham & Company LLC lowered shares of Cytokinetics from a “strong-buy” rating to a “buy” rating and reduced their price target for the stock from $22.00 to $12.00 in a research note on Tuesday, November 21st. Finally, ValuEngine downgraded shares of Cytokinetics from a “hold” rating to a “sell” rating in a report on Tuesday, November 21st. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and ten have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $17.91.
Shares of Cytokinetics (NASDAQ:CYTK) traded down $0.05 during midday trading on Friday, reaching $8.80. 210,400 shares of the company were exchanged, compared to its average volume of 301,033. Cytokinetics has a 1 year low of $7.00 and a 1 year high of $17.20. The firm has a market capitalization of $476.88, a price-to-earnings ratio of -5.30 and a beta of 1.61. The company has a debt-to-equity ratio of 0.14, a quick ratio of 7.60 and a current ratio of 7.60.
In related news, CEO Robert I. Blum sold 5,000 shares of Cytokinetics stock in a transaction that occurred on Wednesday, November 1st. The shares were sold at an average price of $13.51, for a total transaction of $67,550.00. Following the transaction, the chief executive officer now owns 70,180 shares of the company’s stock, valued at approximately $948,131.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Caryn Gordon Mcdowell sold 4,260 shares of the firm’s stock in a transaction that occurred on Thursday, November 2nd. The stock was sold at an average price of $12.94, for a total transaction of $55,124.40. Following the sale, the insider now owns 17,982 shares in the company, valued at $232,687.08. The disclosure for this sale can be found here. In the last three months, insiders have sold 19,290 shares of company stock worth $245,084. Insiders own 7.20% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the company. PNC Financial Services Group Inc. grew its stake in shares of Cytokinetics by 0.8% in the second quarter. PNC Financial Services Group Inc. now owns 84,509 shares of the biopharmaceutical company’s stock valued at $1,022,000 after buying an additional 688 shares in the last quarter. ProShare Advisors LLC boosted its position in shares of Cytokinetics by 7.5% in the second quarter. ProShare Advisors LLC now owns 27,501 shares of the biopharmaceutical company’s stock valued at $333,000 after acquiring an additional 1,926 shares during the period. Voya Investment Management LLC raised its stake in Cytokinetics by 35.9% in the second quarter. Voya Investment Management LLC now owns 19,190 shares of the biopharmaceutical company’s stock valued at $232,000 after purchasing an additional 5,068 shares in the last quarter. Comerica Bank raised its stake in Cytokinetics by 10.8% in the third quarter. Comerica Bank now owns 53,054 shares of the biopharmaceutical company’s stock valued at $737,000 after purchasing an additional 5,192 shares in the last quarter. Finally, Rhumbline Advisers raised its stake in Cytokinetics by 6.6% in the third quarter. Rhumbline Advisers now owns 88,056 shares of the biopharmaceutical company’s stock valued at $1,277,000 after purchasing an additional 5,470 shares in the last quarter. Institutional investors own 73.61% of the company’s stock.
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Cytokinetics, Incorporated is a late-stage biopharmaceutical company. The Company is focused on discovering, developing and commercializing first-in-class muscle activators as potential treatments for debilitating diseases in which muscle performance is compromised and/or declining. It is focused on the discovery and development of small molecule therapeutics that modulate muscle function for the treatment of serious diseases and medical conditions.
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