Cantor Fitzgerald reaffirmed their buy rating on shares of Cytokinetics, Incorporated (NASDAQ:CYTK) in a research report report published on Monday. Cantor Fitzgerald currently has a $21.00 price objective on the biopharmaceutical company’s stock.
“A secondary analysis of the expansion phase of the Phase II COSMIC-HF study showed consistent results for omecamtiv mecarbil among patients with either ischemic or non-ischemic heart failure (64% and 36% of the trial population, respectively).”,” the firm’s analyst wrote.
A number of other analysts have also recently commented on CYTK. ValuEngine upgraded shares of Cytokinetics, from a sell rating to a hold rating in a research report on Friday, June 2nd. Zacks Investment Research upgraded shares of Cytokinetics, from a hold rating to a buy rating and set a $14.00 price objective for the company in a research report on Tuesday, July 11th. BidaskClub upgraded shares of Cytokinetics, from a sell rating to a hold rating in a research report on Thursday, July 13th. Morgan Stanley started coverage on shares of Cytokinetics, in a research report on Monday, July 31st. They issued an overweight rating and a $24.00 price objective for the company. Finally, HC Wainwright set a $26.00 price objective on shares of Cytokinetics, and gave the company a buy rating in a research report on Thursday, August 3rd. Three investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. The stock presently has an average rating of Buy and a consensus target price of $21.30.
Shares of Cytokinetics, (CYTK) opened at 14.25 on Monday. The firm’s market cap is $764.74 million. Cytokinetics, has a 12 month low of $8.52 and a 12 month high of $17.20. The stock has a 50 day moving average price of $13.51 and a 200 day moving average price of $13.56.
Cytokinetics, (NASDAQ:CYTK) last released its quarterly earnings data on Wednesday, August 2nd. The biopharmaceutical company reported ($0.60) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.57) by ($0.03). Cytokinetics, had a negative net margin of 16.00% and a negative return on equity of 14.15%. The firm had revenue of $3.05 million during the quarter, compared to the consensus estimate of $5.28 million. On average, equities research analysts expect that Cytokinetics, will post ($2.46) EPS for the current year.
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In other news, insider Caryn Gordon Mcdowell sold 10,131 shares of the stock in a transaction dated Wednesday, September 6th. The shares were sold at an average price of $14.60, for a total transaction of $147,912.60. Following the completion of the transaction, the insider now directly owns 19,801 shares in the company, valued at approximately $289,094.60. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, SVP Bradley Paul Morgan sold 118,330 shares of the stock in a transaction dated Thursday, August 31st. The stock was sold at an average price of $15.00, for a total transaction of $1,774,950.00. Following the transaction, the senior vice president now owns 63,107 shares of the company’s stock, valued at $946,605. The disclosure for this sale can be found here. In the last quarter, insiders have sold 164,809 shares of company stock valued at $2,412,572. Corporate insiders own 7.20% of the company’s stock.
Institutional investors have recently bought and sold shares of the company. State of Alaska Department of Revenue acquired a new position in shares of Cytokinetics, during the 2nd quarter worth about $109,000. Municipal Employees Retirement System of Michigan acquired a new position in shares of Cytokinetics, during the 2nd quarter worth about $132,000. LMR Partners LLP acquired a new position in shares of Cytokinetics, during the 1st quarter worth about $156,000. Bank of America Corp DE boosted its stake in shares of Cytokinetics, by 36.8% during the 1st quarter. Bank of America Corp DE now owns 12,571 shares of the biopharmaceutical company’s stock worth $162,000 after buying an additional 3,383 shares during the last quarter. Finally, BNP Paribas Arbitrage SA boosted its stake in shares of Cytokinetics, by 4,464.4% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 13,328 shares of the biopharmaceutical company’s stock worth $161,000 after buying an additional 13,036 shares during the last quarter. Institutional investors own 71.51% of the company’s stock.
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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