Cytokinetics (NASDAQ:CYTK) Earns Buy Rating from Analysts at Stifel Nicolaus

Stifel Nicolaus started coverage on shares of Cytokinetics (NASDAQ:CYTK) in a research note issued to investors on Wednesday morning, MarketBeat.com reports. The firm issued a buy rating and a $80.00 target price on the biopharmaceutical company’s stock.

A number of other brokerages also recently issued reports on CYTK. JMP Securities reiterated a “market outperform” rating and set a $78.00 price objective on shares of Cytokinetics in a research note on Tuesday, January 14th. HC Wainwright restated a “buy” rating and set a $120.00 price objective on shares of Cytokinetics in a research report on Tuesday. Royal Bank of Canada raised their target price on Cytokinetics from $80.00 to $82.00 and gave the company an “outperform” rating in a report on Wednesday, December 18th. Needham & Company LLC reissued a “buy” rating and set a $72.00 price target on shares of Cytokinetics in a report on Monday, December 2nd. Finally, Mizuho raised their price objective on Cytokinetics from $99.00 to $103.00 and gave the company an “outperform” rating in a research note on Thursday, November 21st. Three equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $83.40.

Cytokinetics Trading Up 2.2 %

Shares of CYTK stock opened at $46.82 on Wednesday. The stock has a market cap of $5.53 billion, a P/E ratio of -8.70 and a beta of 0.82. Cytokinetics has a 1 year low of $44.49 and a 1 year high of $84.92. The company has a current ratio of 9.28, a quick ratio of 9.28 and a debt-to-equity ratio of 5.93. The stock has a 50 day simple moving average of $48.94 and a 200 day simple moving average of $53.03.

Cytokinetics (NASDAQ:CYTK) last released its earnings results on Wednesday, November 6th. The biopharmaceutical company reported ($1.36) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.27) by ($0.09). The firm had revenue of $0.46 million during the quarter, compared to analysts’ expectations of $1.21 million. During the same period last year, the firm posted ($1.35) EPS. The business’s revenue for the quarter was up 22.5% on a year-over-year basis. On average, research analysts predict that Cytokinetics will post -5.23 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, EVP Fady Ibraham Malik sold 2,000 shares of Cytokinetics stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $45.92, for a total transaction of $91,840.00. Following the transaction, the executive vice president now owns 116,071 shares in the company, valued at approximately $5,329,980.32. The trade was a 1.69 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Wendall Wierenga sold 4,452 shares of the stock in a transaction on Monday, October 28th. The shares were sold at an average price of $52.25, for a total value of $232,617.00. Following the completion of the sale, the director now owns 24,559 shares of the company’s stock, valued at $1,283,207.75. The trade was a 15.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 54,216 shares of company stock valued at $2,799,276 in the last ninety days. 3.40% of the stock is currently owned by insiders.

Institutional Trading of Cytokinetics

Several institutional investors have recently added to or reduced their stakes in CYTK. Van ECK Associates Corp boosted its stake in shares of Cytokinetics by 21.3% in the 3rd quarter. Van ECK Associates Corp now owns 71,691 shares of the biopharmaceutical company’s stock valued at $3,802,000 after purchasing an additional 12,565 shares during the last quarter. Westfield Capital Management Co. LP grew its holdings in Cytokinetics by 38.9% during the 3rd quarter. Westfield Capital Management Co. LP now owns 1,212,886 shares of the biopharmaceutical company’s stock worth $64,040,000 after acquiring an additional 339,373 shares during the period. Ghisallo Capital Management LLC bought a new position in shares of Cytokinetics in the 2nd quarter worth about $10,619,000. Darwin Global Management Ltd. acquired a new position in shares of Cytokinetics in the 2nd quarter valued at about $246,074,000. Finally, Charles Schwab Investment Management Inc. grew its stake in Cytokinetics by 42.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,321,391 shares of the biopharmaceutical company’s stock worth $69,769,000 after purchasing an additional 395,709 shares during the period.

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.