1 week Ago By Defense World Staff
Needham & Company LLC reiterated their buy rating on shares of Cytokinetics (NASDAQ:CYTK – Free Report) in a research report released on Tuesday,Benzinga reports. They currently have a $72.00 price objective on the biopharmaceutical company’s stock.
Several other equities research analysts have also recently commented on the company. JMP Securities restated a “market outperform” rating and issued a $78.00 target price on shares of Cytokinetics in a research note on Friday, February 7th.
Royal Bank of Canada raised their target price on shares of Cytokinetics from $80.00 to $82.00 and gave the company an “outperform” rating in a research report on Wednesday, December 18th.
Stifel Nicolaus began coverage on shares of Cytokinetics in a research report on Wednesday, January 22nd. They set a “buy” rating and a $80.00 price target on the stock.
Morgan Stanley set a $67.00 target price on Cytokinetics in a research report on Friday, March 7th. Finally, Evercore ISI raised Cytokinetics to a “strong-buy” rating in a research report on Friday, February 7th.
Two equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $82.00.
Check Out Our Latest Research Report on CytokineticsCytokinetics Stock PerformanceShares of CYTK opened at $37.85 on Tuesday. The firm has a market cap of $4.
48 billion, a P/E ratio of -7.04 and a beta of 0.94.
Cytokinetics has a twelve month low of $32.74 and a twelve month high of $75.50.
The company has a debt-to-equity ratio of 5.93, a quick ratio of 9.28 and a current ratio of 9.
28. The firm’s 50 day moving average price is $43.38 and its two-hundred day moving average price is $48.
28. Cytokinetics (NASDAQ:CYTK – Get Free Report) last posted its quarterly earnings data on Thursday, February 27th. The biopharmaceutical company reported ($1.
26) EPS for the quarter, beating the consensus estimate of ($1.29) by $0.03.
The company had revenue of $16.93 million during the quarter, compared to the consensus estimate of $14.26 million.
On average, analysts forecast that Cytokinetics will post -5.24 EPS for the current fiscal year. Insider Transactions at CytokineticsIn other news, EVP Andrew Callos sold 3,341 shares of the company’s stock in a transaction that occurred on Thursday, March 6th.
The shares were sold at an average price of $43.27, for a total transaction of $144,565.07.
Following the completion of the sale, the executive vice president now owns 64,434 shares of the company’s stock, valued at approximately $2,788,059.18. This represents a 4.
93 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Robert I.
Blum sold 5,000 shares of Cytokinetics stock in a transaction that occurred on Thursday, April 10th. The shares were sold at an average price of $36.77, for a total transaction of $183,850.
00. Following the completion of the transaction, the chief executive officer now directly owns 422,629 shares in the company, valued at $15,540,068.33.
This trade represents a 1.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here.
In the last three months, insiders have sold 65,170 shares of company stock valued at $2,766,739. 3.40% of the stock is owned by corporate insiders.
Institutional Investors Weigh In On CytokineticsLarge investors have recently modified their holdings of the business. Harvey Capital Management Inc. acquired a new position in shares of Cytokinetics during the 4th quarter worth $1,040,000.
abrdn plc raised its stake in Cytokinetics by 29.4% during the fourth quarter. abrdn plc now owns 450,513 shares of the biopharmaceutical company’s stock worth $21,192,000 after acquiring an additional 102,457 shares in the last quarter.
AlphaQuest LLC raised 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 worth $53,000 after acquiring an additional 1,135 shares in the last quarter.
Vanguard Group Inc. lifted its holdings in shares of Cytokinetics by 1.3% in the fourth 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. Finally, Charles Schwab Investment Management Inc.
boosted its stake in shares of Cytokinetics by 1.0% in 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 purchasing an additional 13,798 shares in the last quarter. About Cytokinetics (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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