Analysts expect Cytokinetics, Inc. (NASDAQ:CYTK) to post sales of $2.52 million for the current quarter, Zacks Investment Research reports. Three analysts have made estimates for Cytokinetics’ earnings, with estimates ranging from $2.00 million to $3.11 million. Cytokinetics posted sales of $6.18 million in the same quarter last year, which suggests a negative year over year growth rate of 59.2%. The business is expected to issue its next earnings results on Thursday, October 25th.
On average, analysts expect that Cytokinetics will report full-year sales of $18.84 million for the current year, with estimates ranging from $15.48 million to $25.58 million. For the next fiscal year, analysts forecast that the company will report sales of $72.51 million per share, with estimates ranging from $21.00 million to $175.24 million. Zacks’ sales averages are a mean average based on a survey of research analysts that that provide coverage for Cytokinetics.
Cytokinetics (NASDAQ:CYTK) last released its earnings results on Thursday, July 26th. The biopharmaceutical company reported ($0.51) EPS for the quarter, meeting the Zacks’ consensus estimate of ($0.51). The firm had revenue of $6.22 million during the quarter, compared to the consensus estimate of $5.54 million.
Several equities research analysts recently weighed in on the stock. HC Wainwright reissued a “buy” rating and set a $20.00 price target on shares of Cytokinetics in a research report on Friday, April 27th. ValuEngine upgraded shares of Cytokinetics from a “sell” rating to a “hold” rating in a research report on Friday, April 27th. Morgan Stanley cut shares of Cytokinetics from an “overweight” rating to an “equal weight” rating and dropped their price target for the company from $18.00 to $9.00 in a research report on Wednesday, August 1st. Zacks Investment Research cut shares of Cytokinetics from a “buy” rating to a “hold” rating in a research report on Tuesday, July 17th. Finally, Cantor Fitzgerald reiterated a “hold” rating and set a $10.00 price target on shares of Cytokinetics in a research report on Sunday, June 17th. One analyst has rated the stock with a sell rating, four have issued a hold rating and six have issued a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $14.00.
Cytokinetics traded up $0.05, reaching $7.00, during trading on Tuesday, according to Marketbeat.com. The stock had a trading volume of 210,432 shares, compared to its average volume of 260,321. The stock has a market cap of $379.67 million, a PE ratio of -2.70 and a beta of 1.39. The company has a quick ratio of 7.07, a current ratio of 8.95 and a debt-to-equity ratio of 0.41. Cytokinetics has a one year low of $6.20 and a one year high of $15.95.
In other news, EVP Fady Ibraham Malik sold 3,000 shares of Cytokinetics stock in a transaction on Thursday, June 7th. The shares were sold at an average price of $8.95, for a total value of $26,850.00. Following the transaction, the executive vice president now directly owns 96,067 shares of the company’s stock, valued at approximately $859,799.65. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Robert I. Blum sold 4,000 shares of Cytokinetics stock in a transaction on Tuesday, June 5th. The shares were sold at an average price of $8.28, for a total transaction of $33,120.00. Following the completion of the transaction, the chief executive officer now directly owns 176,022 shares in the company, valued at $1,457,462.16. The disclosure for this sale can be found here. In the last three months, insiders sold 18,000 shares of company stock valued at $146,780. Insiders own 5.10% of the company’s stock.
Several institutional investors have recently made changes to their positions in the company. Geode Capital Management LLC increased its holdings in shares of Cytokinetics by 1.6% in the 4th quarter. Geode Capital Management LLC now owns 428,548 shares of the biopharmaceutical company’s stock valued at $3,492,000 after acquiring an additional 6,813 shares during the period. Swiss National Bank increased its stake in Cytokinetics by 13.7% in the 1st quarter. Swiss National Bank now owns 74,100 shares of the biopharmaceutical company’s stock valued at $534,000 after buying an additional 8,900 shares during the period. Principal Financial Group Inc. increased its stake in Cytokinetics by 2.5% in the 1st quarter. Principal Financial Group Inc. now owns 397,603 shares of the biopharmaceutical company’s stock valued at $2,863,000 after buying an additional 9,786 shares during the period. Virginia Retirement Systems ET AL increased its stake in Cytokinetics by 13.2% in the 1st quarter. Virginia Retirement Systems ET AL now owns 84,800 shares of the biopharmaceutical company’s stock valued at $611,000 after buying an additional 9,900 shares during the period. Finally, Rhumbline Advisers increased its stake in Cytokinetics by 9.0% in the 2nd quarter. Rhumbline Advisers now owns 119,830 shares of the biopharmaceutical company’s stock valued at $995,000 after buying an additional 9,918 shares during the period. 67.54% of the stock is currently owned by institutional investors and hedge funds.
Cytokinetics Company Profile
Cytokinetics, Incorporated, a late-stage biopharmaceutical company, focuses on discovering, developing, and commercializing muscle activators as potential treatments for debilitating diseases in which muscle performance is compromised and/or declining. It is developing small molecule drug candidates primarily engineered to increase muscle function and contractility.
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