2 days Ago By ABMN Staff
Cytokinetics ( NASDAQ:CYTK – Get Free Report ) had its price target reduced by research analysts at Bank of America from $62.00 to $54.00 in a report released on Tuesday, Benzinga reports.
The firm presently has a “neutral” rating on the biopharmaceutical company’s stock. Bank of America ‘s price target would indicate a potential upside of 37.93% from the stock’s current price.
Other equities research analysts have also recently issued reports about the stock. Citigroup began coverage on shares of Cytokinetics in a report on Friday, February 7th. They issued a “buy” rating and a $86.
00 price target for the company. Needham & Company LLC restated a “buy” rating and issued a $72.00 target price on shares of Cytokinetics in a research note on Tuesday, April 8th.
Morgan Stanley set a $67.00 price target on Cytokinetics in a research note on Friday, March 7th. JMP Securities reissued a “market outperform” rating and issued a $78.
00 price objective on shares of Cytokinetics in a research note on Thursday, April 10th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $120.00 target price on shares of Cytokinetics in a research report on Tuesday.
Two research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $81.
63. Get Our Latest Analysis on CYTK Cytokinetics Stock Performance Cytokinetics ( NASDAQ:CYTK – Get Free Report ) last issued its 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 business had revenue of $16.93 million during the quarter, compared to the consensus estimate of $14.26 million.
As a group, equities research analysts expect that Cytokinetics will post -5.24 earnings per share for the current year. Insiders Place Their Bets In other news, Director John T.
Henderson sold 3,190 shares of Cytokinetics stock in a transaction on Tuesday, April 15th. The stock was sold at an average price of $38.66, for a total transaction of $123,325.
40. Following the sale, the director now directly owns 66,348 shares in the company, valued at $2,565,013.68.
The trade was a 4.59 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink .
Also, EVP Fady Ibraham Malik sold 2,000 shares of the business’s stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $48.06, for a total transaction of $96,120.
00. Following the completion of the transaction, the executive vice president now owns 116,071 shares in the company, valued at approximately $5,578,372.26.
The trade was a 1.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here .
In the last ninety days, insiders sold 68,360 shares of company stock valued at $2,890,065. Corporate insiders own 3.40% of the company’s stock.
Hedge Funds Weigh In On Cytokinetics Several institutional investors and hedge funds have recently bought and sold shares of the company. Harvey Capital Management Inc. bought a new stake in Cytokinetics in the 4th quarter valued at about $1,040,000.
abrdn plc lifted its stake in Cytokinetics by 29.4% in the 4th quarter. abrdn plc now owns 450,513 shares of the biopharmaceutical company’s stock worth $21,192,000 after purchasing an additional 102,457 shares in the last quarter.
AlphaQuest LLC boosted its stake in Cytokinetics by 113,500.0% during the fourth quarter. AlphaQuest LLC now owns 1,136 shares of the biopharmaceutical company’s stock valued at $53,000 after buying an additional 1,135 shares during the period.
Vanguard Group Inc. raised 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 valued at $560,520,000 after acquiring an additional 154,216 shares in the last quarter. Finally, Charles Schwab Investment Management Inc.
boosted its position in shares of Cytokinetics by 1.0% during the 4th quarter. Charles Schwab Investment Management Inc.
now owns 1,335,189 shares of the biopharmaceutical company’s stock valued at $62,807,000 after acquiring an additional 13,798 shares during the last quarter. Cytokinetics Company Profile ( Get Free Report ) 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.
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