Cytokinetics (NASDAQ:CYTK) Given “Buy” Rating at HC Wainwright

HC Wainwright reissued their buy rating on shares of Cytokinetics (NASDAQ:CYTK) in a research note released on Friday morning,Benzinga reports.

CYTK has been the subject of a number of other research reports. Cantor Fitzgerald reissued an “overweight” rating on shares of Cytokinetics in a research report on Friday, October 18th. Royal Bank of Canada increased their price target on Cytokinetics from $80.00 to $82.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 18th. Needham & Company LLC reaffirmed a “buy” rating and issued a $72.00 price objective on shares of Cytokinetics in a research report on Monday, December 2nd. Finally, Mizuho increased their target price on Cytokinetics from $99.00 to $103.00 and gave the stock an “outperform” rating in a research report on Thursday, November 21st. Three analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat.com, Cytokinetics has an average rating of “Moderate Buy” and a consensus price target of $83.64.

Cytokinetics Trading Down 1.6 %

Shares of Cytokinetics stock opened at $46.62 on Friday. The company has a debt-to-equity ratio of 5.93, a current ratio of 9.28 and a quick ratio of 9.28. The business has a 50 day moving average price of $50.53 and a 200 day moving average price of $53.52. The company has a market capitalization of $5.50 billion, a P/E ratio of -8.67 and a beta of 0.82. Cytokinetics has a 1 year low of $45.17 and a 1 year high of $100.49.

Cytokinetics (NASDAQ:CYTK) last posted its quarterly earnings data on Wednesday, November 6th. The biopharmaceutical company reported ($1.36) EPS for the quarter, missing analysts’ consensus estimates of ($1.27) by ($0.09). The company had revenue of $0.46 million during the quarter, compared to analyst estimates of $1.21 million. During the same quarter in the prior year, the firm posted ($1.35) earnings per share. The firm’s revenue was up 22.5% on a year-over-year basis. Sell-side analysts anticipate that Cytokinetics will post -5.25 EPS for the current fiscal year.

Insider Transactions at Cytokinetics

In other news, EVP Fady Ibraham Malik sold 7,300 shares of the stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $54.19, for a total value of $395,587.00. Following the completion of the sale, the executive vice president now owns 116,920 shares in the company, valued at approximately $6,335,894.80. This trade represents a 5.88 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director John T. Henderson sold 1,780 shares of the firm’s stock in a transaction dated Wednesday, December 11th. The shares were sold at an average price of $50.42, for a total value of $89,747.60. Following the sale, the director now owns 38,461 shares in the company, valued at approximately $1,939,203.62. The trade was a 4.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 59,516 shares of company stock valued at $3,103,023 over the last 90 days. Corporate insiders own 3.40% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in CYTK. Van ECK Associates Corp lifted its holdings in Cytokinetics by 21.3% in the 3rd quarter. Van ECK Associates Corp now owns 71,691 shares of the biopharmaceutical company’s stock worth $3,802,000 after buying an additional 12,565 shares in the last quarter. Westfield Capital Management Co. LP increased its position in shares of Cytokinetics by 38.9% during the third quarter. Westfield Capital Management Co. LP now owns 1,212,886 shares of the biopharmaceutical company’s stock worth $64,040,000 after acquiring an additional 339,373 shares during the last quarter. Ghisallo Capital Management LLC acquired a new position in shares of Cytokinetics in the second quarter worth about $10,619,000. Darwin Global Management Ltd. purchased a new position in Cytokinetics in the second quarter valued at about $246,074,000. Finally, WINTON GROUP Ltd acquired a new stake in Cytokinetics during the 2nd quarter valued at approximately $983,000.

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.