Cytokinetics, Incorporated (NASDAQ:CYTK) Stock Has Average Price Target of $106.06 According to Analysts

Shares of Cytokinetics, Incorporated (NASDAQ:CYTK) have received an average rating of “Moderate Buy” from the twenty-one analysts that are presently covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and nineteen have assigned a buy rating to the company. The average 12-month price target among brokers that have covered the stock in the last year is $105.44.

CYTK has been the topic of a number of research analyst reports. Citizens Jmp raised their target price on shares of Cytokinetics from $105.00 to $110.00 and gave the company a “market outperform” rating in a research report on Friday, August 7th. William Blair started coverage on shares of Cytokinetics in a report on Friday. They set an “outperform” rating for the company. JPMorgan Chase & Co. raised their price objective on shares of Cytokinetics from $97.00 to $103.00 and gave the company an “overweight” rating in a report on Thursday, August 13th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Cytokinetics in a report on Thursday. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Cytokinetics in a research note on Friday, September 11th.

Insiders Place Their Bets

In other Cytokinetics news, Director B. Parshall sold 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 1st. The stock was sold at an average price of $71.48, for a total value of $357,400.00. Following the completion of the sale, the director owned 10,784 shares of the company’s stock, valued at approximately $770,840.32. This trade represents a 31.68% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Andrew Callos sold 14,000 shares of the firm’s stock in a transaction on Thursday, July 30th. The shares were sold at an average price of $79.88, for a total transaction of $1,118,320.00. Following the completion of the transaction, the executive vice president directly owned 58,555 shares in the company, valued at $4,677,373.40. This trade represents a 19.30% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 191,426 shares of company stock worth $13,601,885. Corporate insiders own 2.60% of the company’s stock.

Hedge Funds Weigh In On Cytokinetics

Several institutional investors have recently bought and sold shares of the company. Integrated Wealth Concepts LLC purchased a new stake in Cytokinetics during the second quarter valued at about $36,000. V Square Quantitative Management LLC grew its position in shares of Cytokinetics by 71.5% during the 3rd quarter. V Square Quantitative Management LLC now owns 458 shares of the biopharmaceutical company’s stock valued at $30,000 after purchasing an additional 191 shares in the last quarter. Rockefeller Capital Management L.P. raised its holdings in shares of Cytokinetics by 842.6% in the 4th quarter. Rockefeller Capital Management L.P. now owns 641 shares of the biopharmaceutical company’s stock valued at $41,000 after acquiring an additional 573 shares in the last quarter. Western Wealth Management LLC purchased a new stake in Cytokinetics in the first quarter valued at approximately $53,000. Finally, EverSource Wealth Advisors LLC lifted its holdings in shares of Cytokinetics by 55.0% during the 1st quarter. EverSource Wealth Advisors LLC now owns 1,548 shares of the biopharmaceutical company’s stock worth $102,000 after acquiring an additional 549 shares during the last quarter.

Cytokinetics Stock Performance

Shares of CYTK opened at $61.95 on Wednesday. Cytokinetics has a 52-week low of $54.30 and a 52-week high of $88.31. The firm has a market cap of $7.71 billion, a price-to-earnings ratio of -8.58 and a beta of 0.41. The business’s fifty day moving average is $70.18 and its 200-day moving average is $73.20.

Cytokinetics (NASDAQ:CYTK) last released its quarterly earnings data on Thursday, August 6th. The biopharmaceutical company reported ($1.50) earnings per share for the quarter, beating the consensus estimate of ($1.63) by $0.13. The business had revenue of $28.62 million during the quarter, compared to analyst estimates of $17.59 million. The business’s quarterly revenue was down 57.1% compared to the same quarter last year. During the same period last year, the business earned ($1.12) earnings per share. As a group, research analysts forecast that Cytokinetics will post -5.97 EPS for the current fiscal year.

About Cytokinetics

Cytokinetics, Incorporated is a biopharmaceutical company focused on discovering and developing medicines that improve muscle function. The company applies muscle biology and molecular pharmacology to develop therapies for cardiovascular and neuromuscular diseases in which impaired muscle performance contributes to disease progression or disability.

Its lead programs include aficamten, a next-generation cardiac myosin inhibitor being developed for hypertrophic cardiomyopathy, and other investigational compounds designed to modulate the activity of cardiac or skeletal muscle.