Cytokinetics (NASDAQ:CYTK) Issues Earnings Results, Misses Estimates By $0.17 EPS

Cytokinetics (NASDAQ:CYTK) issued its quarterly earnings data on Wednesday. The biopharmaceutical company reported ($1.33) EPS for the quarter, missing the consensus estimate of ($1.16) by ($0.17), Briefing.com reports. The company had revenue of $0.84 million for the quarter, compared to analyst estimates of $0.91 million. During the same period last year, the firm posted ($1.38) earnings per share. Cytokinetics’s revenue was down 81.8% compared to the same quarter last year.

Cytokinetics Trading Down 1.9 %

NASDAQ CYTK traded down $1.25 during mid-day trading on Thursday, hitting $64.02. The company’s stock had a trading volume of 1,863,920 shares, compared to its average volume of 2,729,063. The company’s 50 day simple moving average is $67.82 and its 200 day simple moving average is $61.66. Cytokinetics has a twelve month low of $25.98 and a twelve month high of $110.25. The firm has a market capitalization of $6.70 billion, a price-to-earnings ratio of -11.86 and a beta of 0.72.

Wall Street Analyst Weigh In

CYTK has been the topic of several analyst reports. HC Wainwright reissued a “buy” rating and issued a $94.00 price objective on shares of Cytokinetics in a research note on Wednesday. Truist Financial reissued a “buy” rating and issued a $86.00 price target on shares of Cytokinetics in a research note on Monday, April 8th. Mizuho reduced their target price on Cytokinetics from $103.00 to $99.00 and set a “buy” rating on the stock in a report on Wednesday, March 6th. Needham & Company LLC restated a “buy” rating and set a $108.00 price target on shares of Cytokinetics in a report on Thursday. Finally, UBS Group lowered shares of Cytokinetics from a “buy” rating to a “neutral” rating and upped their price objective for the company from $61.00 to $92.00 in a research note on Wednesday, January 24th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $81.60.

Insider Buying and Selling at Cytokinetics

In other news, EVP Fady Ibraham Malik sold 32,604 shares of the business’s stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $67.56, for a total transaction of $2,202,726.24. Following the completion of the sale, the executive vice president now directly owns 138,973 shares of the company’s stock, valued at $9,389,015.88. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, Director John T. Henderson sold 10,562 shares of the company’s stock in a transaction on Thursday, April 25th. The shares were sold at an average price of $64.54, for a total value of $681,671.48. Following the completion of the sale, the director now owns 32,070 shares in the company, valued at approximately $2,069,797.80. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Fady Ibraham Malik sold 32,604 shares of the firm’s stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $67.56, for a total transaction of $2,202,726.24. Following the transaction, the executive vice president now directly owns 138,973 shares in the company, valued at $9,389,015.88. The disclosure for this sale can be found here. Over the last three months, insiders have sold 96,318 shares of company stock valued at $6,701,940. Corporate insiders own 3.40% 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. The company develops small molecule drug candidates primarily engineered to impact muscle function and contractility.