Zacks: Analysts Anticipate Cytokinetics (CYTK) to Announce -$0.51 Earnings Per Share

Wall Street brokerages expect Cytokinetics (NASDAQ:CYTK) to post earnings of ($0.51) per share for the current quarter, according to Zacks. Two analysts have issued estimates for Cytokinetics’ earnings, with the lowest EPS estimate coming in at ($0.55) and the highest estimate coming in at ($0.47). Cytokinetics reported earnings per share of ($0.60) in the same quarter last year, which suggests a positive year-over-year growth rate of 15%. The business is scheduled to report its next quarterly earnings results on Wednesday, August 1st.

On average, analysts expect that Cytokinetics will report full year earnings of ($2.07) per share for the current financial year, with EPS estimates ranging from ($2.42) to ($1.85). For the next fiscal year, analysts expect that the company will post earnings of ($1.96) per share, with EPS estimates ranging from ($2.57) to ($1.58). Zacks’ EPS averages are a mean average based on a survey of research firms that cover Cytokinetics.

Cytokinetics (NASDAQ:CYTK) last issued its quarterly earnings results on Thursday, April 26th. The biopharmaceutical company reported ($0.56) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.50) by ($0.06). The firm had revenue of $5.27 million during the quarter, compared to analysts’ expectations of $5.50 million. Cytokinetics had a negative return on equity of 99.50% and a negative net margin of 172.27%.

Several equities research analysts recently weighed in on CYTK shares. HC Wainwright reaffirmed a “buy” rating and issued a $20.00 price target on shares of Cytokinetics in a research note on Friday, April 27th. BidaskClub raised Cytokinetics from a “strong sell” rating to a “sell” rating in a research note on Tuesday, March 6th. ValuEngine raised Cytokinetics from a “sell” rating to a “hold” rating in a research note on Friday, April 27th. Cantor Fitzgerald set a $10.00 price target on Cytokinetics and gave the stock a “hold” rating in a research note on Tuesday, April 24th. Finally, Cowen reaffirmed a “buy” rating and issued a $11.00 price target on shares of Cytokinetics in a research note on Tuesday, February 20th. Four analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $15.67.

In other Cytokinetics news, CEO Robert I. Blum sold 4,000 shares of the business’s stock in a transaction on Friday, May 4th. The stock was sold at an average price of $8.38, for a total value of $33,520.00. Following the sale, the chief executive officer now directly owns 183,722 shares of the company’s stock, valued at $1,539,590.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 5.10% of the company’s stock.

A number of institutional investors have recently added to or reduced their stakes in the business. Geode Capital Management LLC boosted its holdings in Cytokinetics by 1.6% in the fourth quarter. Geode Capital Management LLC now owns 428,548 shares of the biopharmaceutical company’s stock worth $3,492,000 after acquiring an additional 6,813 shares in the last quarter. Swiss National Bank boosted its holdings in Cytokinetics by 13.7% in the first quarter. Swiss National Bank now owns 74,100 shares of the biopharmaceutical company’s stock worth $534,000 after acquiring an additional 8,900 shares in the last quarter. Principal Financial Group Inc. boosted its holdings in Cytokinetics by 2.5% in the first quarter. Principal Financial Group Inc. now owns 397,603 shares of the biopharmaceutical company’s stock worth $2,863,000 after acquiring an additional 9,786 shares in the last quarter. Virginia Retirement Systems ET AL boosted its holdings in Cytokinetics by 13.2% in the first quarter. Virginia Retirement Systems ET AL now owns 84,800 shares of the biopharmaceutical company’s stock worth $611,000 after acquiring an additional 9,900 shares in the last quarter. Finally, Pinnacle Associates Ltd. boosted its holdings in Cytokinetics by 1.2% in the first quarter. Pinnacle Associates Ltd. now owns 888,415 shares of the biopharmaceutical company’s stock worth $6,397,000 after acquiring an additional 10,840 shares in the last quarter. 71.25% of the stock is currently owned by institutional investors and hedge funds.

CYTK stock traded down $0.30 during midday trading on Thursday, hitting $9.15. The stock had a trading volume of 243,636 shares, compared to its average volume of 349,379. The stock has a market cap of $501.33 million, a price-to-earnings ratio of -3.53 and a beta of 1.13. Cytokinetics has a 52-week low of $9.30 and a 52-week high of $9.45. The company has a quick ratio of 7.07, a current ratio of 7.07 and a debt-to-equity ratio of 0.32.

Cytokinetics Company Profile

Cytokinetics, Incorporated, a late-stage biopharmaceutical company, focuses on discovering, developing, and commercializing muscle activators as potential treatments for debilitating diseases in which muscle performance is compromised and/or declining. It is developing small molecule drug candidates primarily engineered to increase muscle function and contractility.

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Earnings History and Estimates for Cytokinetics (NASDAQ:CYTK)

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