Cytokinetics’ (CYTK) Buy Rating Reaffirmed at HC Wainwright

Cytokinetics (NASDAQ:CYTK)‘s stock had its “buy” rating restated by analysts at HC Wainwright in a report issued on Tuesday,Benzinga reports. They currently have a $120.00 price objective on the biopharmaceutical company’s stock. HC Wainwright’s price objective points to a potential upside of 163.08% from the company’s previous close.

Several other brokerages also recently commented on CYTK. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Cytokinetics in a research note on Friday, October 18th. Mizuho boosted their price objective on shares of Cytokinetics from $99.00 to $103.00 and gave the company an “outperform” rating in a research report on Thursday, November 21st. JMP Securities reissued a “market outperform” rating and issued a $78.00 target price on shares of Cytokinetics in a research note on Tuesday, January 14th. Needham & Company LLC reiterated a “buy” rating and issued a $72.00 price objective on shares of Cytokinetics in a report on Monday, December 2nd. Finally, Royal Bank of Canada boosted their target price on Cytokinetics from $80.00 to $82.00 and gave the company an “outperform” rating in a research note on Wednesday, December 18th. Three analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $83.64.

Cytokinetics Trading Down 0.3 %

NASDAQ:CYTK traded down $0.13 during trading hours on Tuesday, reaching $45.61. The company’s stock had a trading volume of 464,968 shares, compared to its average volume of 1,050,459. The firm has a 50-day simple moving average of $49.33 and a 200-day simple moving average of $53.14. The company has a debt-to-equity ratio of 5.93, a quick ratio of 9.28 and a current ratio of 9.28. Cytokinetics has a 1 year low of $44.49 and a 1 year high of $84.92. The firm has a market capitalization of $5.38 billion, a price-to-earnings ratio of -8.50 and a beta of 0.82.

Cytokinetics (NASDAQ:CYTK) last issued its earnings results on Wednesday, November 6th. The biopharmaceutical company reported ($1.36) earnings per share for the quarter, missing the consensus estimate of ($1.27) by ($0.09). The company had revenue of $0.46 million during the quarter, compared to the consensus estimate of $1.21 million. During the same period in the previous year, the company earned ($1.35) EPS. Cytokinetics’s revenue for the quarter was up 22.5% compared to the same quarter last year. Research analysts expect that Cytokinetics will post -5.23 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Wendall Wierenga sold 742 shares of the company’s stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $48.61, for a total value of $36,068.62. Following the transaction, the director now owns 24,559 shares in the company, valued at $1,193,812.99. The trade was a 2.93 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Fady Ibraham Malik sold 7,300 shares of the stock in a transaction dated Wednesday, October 30th. The shares were sold at an average price of $51.91, for a total transaction of $378,943.00. Following the sale, the executive vice president now directly owns 114,920 shares in the company, valued at $5,965,497.20. This trade represents a 5.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 52,216 shares of company stock valued at $2,707,436 over the last quarter. Corporate insiders own 3.40% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in CYTK. UMB Bank n.a. raised its holdings in Cytokinetics by 65.6% in the 3rd quarter. UMB Bank n.a. now owns 601 shares of the biopharmaceutical company’s stock worth $32,000 after acquiring an additional 238 shares during the last quarter. Blue Trust Inc. increased its holdings in shares of Cytokinetics by 225.9% in the 3rd quarter. Blue Trust Inc. now owns 981 shares of the biopharmaceutical company’s stock worth $53,000 after purchasing an additional 680 shares in the last quarter. Values First Advisors Inc. purchased a new position in shares of Cytokinetics in the third quarter worth $54,000. Quarry LP lifted its holdings in shares of Cytokinetics by 233.3% during the second quarter. Quarry LP now owns 2,000 shares of the biopharmaceutical company’s stock valued at $108,000 after purchasing an additional 1,400 shares in the last quarter. Finally, Avior Wealth Management LLC lifted its holdings in shares of Cytokinetics by 57.1% during the third quarter. Avior Wealth Management LLC now owns 3,999 shares of the biopharmaceutical company’s stock valued at $211,000 after purchasing an additional 1,454 shares in the last quarter.

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.