Equities analysts predict that Cytokinetics, Inc. (NASDAQ:CYTK) will post sales of $5.28 million for the current quarter, Zacks Investment Research reports. Two analysts have made estimates for Cytokinetics’ earnings, with the highest sales estimate coming in at $6.15 million and the lowest estimate coming in at $4.4 million. Cytokinetics reported sales of $5.8 million during the same quarter last year, which indicates a negative year-over-year growth rate of 9%. The company is expected to report its next earnings results on Thursday, July 27th.
According to Zacks, analysts expect that Cytokinetics will report full-year sales of $5.28 million for the current year, with estimates ranging from $18.2 million to $26 million. For the next fiscal year, analysts forecast that the company will post sales of $33.5 million per share, with estimates ranging from $18.7 million to $48.3 million. Zacks’ sales calculations are an average based on a survey of sell-side research firms that follow Cytokinetics.
Cytokinetics (NASDAQ:CYTK) last issued its earnings results on Thursday, February 16th. The biopharmaceutical company reported $0.16 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.39) by $0.55. The firm had revenue of $33.14 million during the quarter, compared to analyst estimates of $14.10 million. Cytokinetics had a negative net margin of 1.70% and a negative return on equity of 2.17%.
CYTK has been the subject of a number of recent research reports. Rodman & Renshaw reiterated a “buy” rating and set a $25.00 price objective on shares of Cytokinetics in a research note on Thursday, March 23rd. HC Wainwright reiterated a “buy” rating on shares of Cytokinetics in a research note on Monday, March 13th. Zacks Investment Research downgraded Cytokinetics from a “hold” rating to a “strong sell” rating in a research note on Thursday, May 4th. Cowen and Company reiterated an “outperform” rating and set a $19.00 price objective (up from $17.00) on shares of Cytokinetics in a research note on Saturday, April 29th. Finally, Needham & Company LLC upgraded Cytokinetics from a “buy” rating to a “strong-buy” rating and boosted their price objective for the company from $17.00 to $22.00 in a research note on Monday, February 6th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. Cytokinetics presently has a consensus rating of “Buy” and a consensus target price of $20.30.
Shares of Cytokinetics (NASDAQ:CYTK) traded down 0.35% during trading on Wednesday, reaching $14.20. 705,107 shares of the company’s stock were exchanged. The firm has a market cap of $640.18 million, a price-to-earnings ratio of 191.89 and a beta of 1.79. Cytokinetics has a 12 month low of $7.64 and a 12 month high of $17.20. The stock has a 50-day moving average price of $13.90 and a 200 day moving average price of $12.12.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Dimensional Fund Advisors LP acquired a new position in Cytokinetics during the first quarter valued at $134,000. Wells Fargo & Company MN increased its position in Cytokinetics by 5.1% in the third quarter. Wells Fargo & Company MN now owns 15,627 shares of the biopharmaceutical company’s stock valued at $144,000 after buying an additional 760 shares during the last quarter. Dynamic Technology Lab Private Ltd acquired a new position in Cytokinetics during the fourth quarter valued at $147,000. LMR Partners LLP acquired a new position in Cytokinetics during the first quarter valued at $156,000. Finally, Bayesian Capital Management LP acquired a new position in Cytokinetics during the fourth quarter valued at $159,000. Institutional investors and hedge funds own 66.09% of the company’s stock.
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Cytokinetics Company Profile
Cytokinetics, Incorporated is a late-stage biopharmaceutical company. The Company is focused on discovering, developing and commercializing first-in-class muscle activators as potential treatments for debilitating diseases in which muscle performance is compromised and/or declining. It is focused on the discovery and development of small molecule therapeutics that modulate muscle function for the treatment of serious diseases and medical conditions.
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