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

Shares of Cytokinetics, Incorporated (NASDAQ:CYTK) have earned a consensus recommendation of “Moderate Buy” from the eighteen ratings firms that are currently covering the firm, MarketBeat reports. Two investment analysts have rated the stock with a hold recommendation, fifteen have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $82.00.

A number of analysts have recently weighed in on the company. Royal Bank of Canada increased their price target on Cytokinetics from $80.00 to $82.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 18th. JMP Securities reaffirmed a “market outperform” rating and set a $78.00 target price on shares of Cytokinetics in a research note on Friday, February 7th. Citigroup started coverage on Cytokinetics in a research note on Friday, February 7th. They set a “buy” rating and a $86.00 target price on the stock. Stifel Nicolaus started coverage on Cytokinetics in a research note on Wednesday, January 22nd. They set a “buy” rating and a $80.00 target price on the stock. Finally, Evercore ISI raised Cytokinetics to a “strong-buy” rating in a research note on Friday, February 7th.

Insider Activity

In related news, EVP Fady Ibraham Malik sold 2,000 shares of Cytokinetics stock in a transaction on Tuesday, January 7th. The stock was sold at an average price of $49.32, for a total value of $98,640.00. Following the transaction, the executive vice president now directly owns 116,071 shares in the company, valued at $5,724,621.72. The trade was a 1.69 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Andrew Callos sold 3,341 shares of Cytokinetics stock in a transaction on Thursday, March 6th. The stock was sold at an average price of $43.27, for a total value of $144,565.07. Following the completion of the transaction, the executive vice president now owns 64,434 shares in the company, valued at $2,788,059.18. The trade was a 4.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 43,834 shares of company stock worth $1,949,275. 3.40% of the stock is owned by company insiders.

Hedge Funds Weigh In On Cytokinetics

A number of hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. grew its holdings in shares of Cytokinetics by 1.3% in the 4th quarter. Vanguard Group Inc. now owns 11,915,821 shares of the biopharmaceutical company’s stock worth $560,520,000 after acquiring an additional 154,216 shares during the last quarter. T. Rowe Price Investment Management Inc. grew its holdings in shares of Cytokinetics by 11.0% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 10,752,123 shares of the biopharmaceutical company’s stock valued at $505,780,000 after buying an additional 1,062,136 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Cytokinetics by 4.0% during the third quarter. Geode Capital Management LLC now owns 2,848,584 shares of the biopharmaceutical company’s stock valued at $150,433,000 after buying an additional 109,938 shares in the last quarter. Deep Track Capital LP grew its holdings in shares of Cytokinetics by 296.9% during the fourth quarter. Deep Track Capital LP now owns 2,500,000 shares of the biopharmaceutical company’s stock valued at $117,600,000 after buying an additional 1,870,094 shares in the last quarter. Finally, Vestal Point Capital LP grew its holdings in shares of Cytokinetics by 56.7% during the fourth quarter. Vestal Point Capital LP now owns 2,350,000 shares of the biopharmaceutical company’s stock valued at $110,544,000 after buying an additional 850,000 shares in the last quarter.

Cytokinetics Trading Up 5.4 %

Shares of NASDAQ CYTK opened at $45.43 on Tuesday. The stock’s 50 day moving average price is $45.96 and its two-hundred day moving average price is $49.92. Cytokinetics has a 52-week low of $40.53 and a 52-week high of $75.71. The stock has a market capitalization of $5.38 billion, a P/E ratio of -8.44 and a beta of 0.95. The company has a quick ratio of 9.28, a current ratio of 9.28 and a debt-to-equity ratio of 5.93.

Cytokinetics (NASDAQ:CYTK) last announced its quarterly earnings results on Thursday, February 27th. The biopharmaceutical company reported ($1.26) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.29) by $0.03. The company had revenue of $16.93 million for the quarter, compared to analyst estimates of $14.26 million. On average, analysts anticipate that Cytokinetics will post -5.24 earnings per share for the current fiscal year.

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.