Cytokinetics, Incorporated (NASDAQ:CYTK) Given Average Recommendation of “Moderate Buy” by Brokerages

Shares of Cytokinetics, Incorporated (NASDAQ:CYTK) have earned an average recommendation of “Moderate Buy” from the fifteen analysts that are covering the firm, Marketbeat.com reports. Two analysts have rated the stock with a hold rating and thirteen have issued a buy rating on the company. The average 12 month price target among analysts that have covered the stock in the last year is $79.33.

Several equities analysts have commented on the stock. StockNews.com lowered shares of Cytokinetics from a “hold” rating to a “sell” rating in a research report on Friday, January 5th. Oppenheimer reissued an “outperform” rating and set a $107.00 price objective on shares of Cytokinetics in a research note on Monday, March 4th. Needham & Company LLC reaffirmed a “buy” rating and issued a $108.00 price objective on shares of Cytokinetics in a research note on Tuesday, April 9th. Morgan Stanley reissued an “equal weight” rating and set a $90.00 target price (up previously from $60.00) on shares of Cytokinetics in a research report on Friday, January 5th. Finally, Mizuho lowered their price target on Cytokinetics from $103.00 to $99.00 and set a “buy” rating for the company in a research report on Wednesday, March 6th.

Cytokinetics Stock Up 3.3 %

CYTK opened at $63.37 on Friday. The company has a market capitalization of $6.63 billion, a PE ratio of -11.63 and a beta of 0.68. Cytokinetics has a 52 week low of $25.98 and a 52 week high of $110.25. The firm has a 50-day simple moving average of $69.31 and a two-hundred day simple moving average of $60.56.

Cytokinetics (NASDAQ:CYTK) last released its quarterly earnings data on Tuesday, February 27th. The biopharmaceutical company reported ($1.38) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.03) by ($0.35). The business had revenue of $1.70 million during the quarter, compared to analyst estimates of $7.62 million. Cytokinetics’s revenue was down 10.5% on a year-over-year basis. During the same quarter last year, the firm posted ($1.45) earnings per share. As a group, sell-side analysts expect that Cytokinetics will post -4.5 earnings per share for the current year.

Insider Buying and Selling at Cytokinetics

In other Cytokinetics news, Director John T. Henderson sold 5,000 shares of the firm’s stock in a transaction that occurred on Wednesday, February 14th. The shares were sold at an average price of $76.48, for a total value of $382,400.00. Following the completion of the sale, the director now directly owns 42,632 shares in the company, valued at $3,260,495.36. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, EVP Fady Ibraham Malik sold 32,605 shares of the company’s stock in a transaction dated Tuesday, February 6th. The shares were sold at an average price of $79.30, for a total transaction of $2,585,576.50. Following the transaction, the executive vice president now owns 142,973 shares in the company, valued at $11,337,758.90. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director John T. Henderson sold 5,000 shares of the stock in a transaction that occurred on Wednesday, February 14th. The shares were sold at an average price of $76.48, for a total transaction of $382,400.00. Following the completion of the transaction, the director now directly owns 42,632 shares of the company’s stock, valued at $3,260,495.36. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 113,376 shares of company stock valued at $8,275,252. 3.40% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. TD Asset Management Inc lifted its holdings in shares of Cytokinetics by 35.9% during the third quarter. TD Asset Management Inc now owns 99,640 shares of the biopharmaceutical company’s stock worth $2,935,000 after purchasing an additional 26,297 shares during the period. Assenagon Asset Management S.A. acquired a new stake in Cytokinetics during the 4th quarter valued at approximately $46,308,000. Vanguard Group Inc. boosted its holdings in shares of Cytokinetics by 4.6% in the 3rd quarter. Vanguard Group Inc. now owns 10,743,324 shares of the biopharmaceutical company’s stock valued at $316,498,000 after acquiring an additional 472,595 shares during the last quarter. HealthInvest Partners AB acquired a new stake in shares of Cytokinetics in the fourth quarter worth $980,000. Finally, Legato Capital Management LLC purchased a new position in shares of Cytokinetics during the fourth quarter worth $1,305,000.

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.