Brokerages expect Cytokinetics, Inc. (NASDAQ:CYTK) to report earnings per share of ($0.42) for the current fiscal quarter, according to Zacks. Two analysts have provided estimates for Cytokinetics’ earnings. The highest EPS estimate is ($0.26) and the lowest is ($0.51). Cytokinetics reported earnings of ($0.48) per share during the same quarter last year, which would suggest a positive year-over-year growth rate of 12.5%. The business is expected to report its next quarterly earnings results on Thursday, February 20th.
According to Zacks, analysts expect that Cytokinetics will report full-year earnings of ($2.02) per share for the current year, with EPS estimates ranging from ($2.10) to ($1.85). For the next fiscal year, analysts expect that the firm will report earnings of ($2.02) per share, with EPS estimates ranging from ($2.25) to ($1.69). Zacks Investment Research’s EPS calculations are a mean average based on a survey of sell-side research firms that follow Cytokinetics.
Cytokinetics (NASDAQ:CYTK) last posted its quarterly earnings results on Thursday, October 31st. The biopharmaceutical company reported ($0.50) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.56) by $0.06. Cytokinetics had a negative return on equity of 10,351.99% and a negative net margin of 378.70%. The business had revenue of $6.06 million during the quarter, compared to the consensus estimate of $7.80 million.
A number of equities analysts recently weighed in on the stock. Needham & Company LLC restated a “buy” rating and set a $24.00 target price on shares of Cytokinetics in a research report on Friday, November 1st. They noted that the move was a valuation call. ValuEngine downgraded shares of Cytokinetics from a “hold” rating to a “sell” rating in a report on Thursday, November 14th. BidaskClub upgraded shares of Cytokinetics from a “hold” rating to a “buy” rating in a research note on Wednesday, January 8th. Zacks Investment Research downgraded shares of Cytokinetics from a “hold” rating to a “sell” rating in a report on Friday, January 10th. Finally, HC Wainwright restated a “buy” rating and set a $26.00 price objective on shares of Cytokinetics in a research report on Friday, October 4th. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating and six have assigned a buy rating to the company. Cytokinetics presently has a consensus rating of “Hold” and a consensus price target of $19.86.
CYTK stock opened at $12.69 on Wednesday. Cytokinetics has a one year low of $5.75 and a one year high of $14.94. The company’s fifty day moving average price is $10.38 and its 200-day moving average price is $11.41. The company has a market capitalization of $691.26 million, a PE ratio of -6.51 and a beta of 1.53.
In other Cytokinetics news, major shareholder Bvf Partners L. P/Il purchased 223,659 shares of Cytokinetics stock in a transaction that occurred on Tuesday, December 10th. The shares were bought at an average price of $9.40 per share, for a total transaction of $2,102,394.60. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Robert I. Blum sold 6,000 shares of the business’s stock in a transaction on Friday, November 15th. The stock was sold at an average price of $8.08, for a total transaction of $48,480.00. Following the completion of the sale, the chief executive officer now owns 235,057 shares in the company, valued at approximately $1,899,260.56. The disclosure for this sale can be found here. Insiders have sold a total of 15,000 shares of company stock worth $139,470 over the last ninety days. Insiders own 5.70% of the company’s stock.
A number of hedge funds have recently added to or reduced their stakes in the business. BlackRock Inc. grew its stake in shares of Cytokinetics by 2.2% in the 2nd quarter. BlackRock Inc. now owns 9,058,271 shares of the biopharmaceutical company’s stock worth $101,905,000 after buying an additional 195,445 shares in the last quarter. Vanguard Group Inc. increased its stake in Cytokinetics by 3.9% during the second quarter. Vanguard Group Inc. now owns 3,961,497 shares of the biopharmaceutical company’s stock worth $44,566,000 after acquiring an additional 147,849 shares during the last quarter. FMR LLC increased its stake in Cytokinetics by 3.9% during the first quarter. FMR LLC now owns 1,926,824 shares of the biopharmaceutical company’s stock worth $15,589,000 after acquiring an additional 73,141 shares during the last quarter. Northern Trust Corp raised its position in Cytokinetics by 24.5% during the second quarter. Northern Trust Corp now owns 676,985 shares of the biopharmaceutical company’s stock valued at $7,616,000 after purchasing an additional 133,189 shares during the period. Finally, Bank of New York Mellon Corp raised its position in Cytokinetics by 8.0% during the second quarter. Bank of New York Mellon Corp now owns 642,420 shares of the biopharmaceutical company’s stock valued at $7,227,000 after purchasing an additional 47,339 shares during the period. Institutional investors and hedge funds own 76.36% of the company’s stock.
Cytokinetics Company Profile
Cytokinetics, Incorporated, a late-stage biopharmaceutical company, focuses on discovering, developing, and commercializing muscle activators and inhibitors as potential treatments for debilitating diseases in which muscle performance is compromised and/or declining. The company is developing small molecule drug candidates primarily engineered to increase muscle function and contractility.
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