Cytokinetics (NASDAQ:CYTK) has been given a $21.00 target price by stock analysts at HC Wainwright in a report released on Wednesday. The firm currently has a “buy” rating on the biopharmaceutical company’s stock. HC Wainwright’s price objective would suggest a potential upside of 151.50% from the stock’s current price.
Other analysts have also issued reports about the stock. BidaskClub lowered shares of Cytokinetics from a “buy” rating to a “hold” rating in a research report on Thursday, July 19th. ValuEngine upgraded shares of Cytokinetics from a “hold” rating to a “buy” rating in a research report on Wednesday. Cantor Fitzgerald set a $14.00 price target on shares of Cytokinetics and gave the company a “buy” rating in a research report on Wednesday. Morgan Stanley set a $10.00 price target on shares of Cytokinetics and gave the company a “hold” rating in a research report on Friday, October 5th. Finally, Zacks Investment Research lowered shares of Cytokinetics from a “hold” rating to a “sell” rating in a research report on Wednesday, October 3rd. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have given a buy rating to the stock. Cytokinetics presently has a consensus rating of “Buy” and a consensus target price of $13.00.
NASDAQ CYTK traded down $0.31 during trading on Wednesday, hitting $8.35. 242,121 shares of the company’s stock traded hands, compared to its average volume of 326,333. The company has a quick ratio of 8.95, a current ratio of 8.95 and a debt-to-equity ratio of 0.41. Cytokinetics has a 12-month low of $6.20 and a 12-month high of $15.60. The firm has a market cap of $538.09 million, a price-to-earnings ratio of -3.22 and a beta of 1.41.
In other news, CEO Robert I. Blum sold 4,000 shares of the company’s stock in a transaction dated Wednesday, September 5th. The shares were sold at an average price of $7.94, for a total transaction of $31,760.00. Following the completion of the transaction, the chief executive officer now directly owns 164,022 shares of the company’s stock, valued at $1,302,334.68. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Over the last ninety days, insiders have sold 16,500 shares of company stock valued at $129,505. Insiders own 5.10% of the company’s stock.
Several large investors have recently modified their holdings of CYTK. BlackRock Inc. raised its stake in shares of Cytokinetics by 9.5% during the second quarter. BlackRock Inc. now owns 7,943,794 shares of the biopharmaceutical company’s stock valued at $65,934,000 after acquiring an additional 686,537 shares during the last quarter. Millennium Management LLC raised its stake in shares of Cytokinetics by 351.9% during the second quarter. Millennium Management LLC now owns 461,733 shares of the biopharmaceutical company’s stock valued at $3,832,000 after acquiring an additional 359,561 shares during the last quarter. Northern Trust Corp raised its stake in shares of Cytokinetics by 16.7% during the second quarter. Northern Trust Corp now owns 498,546 shares of the biopharmaceutical company’s stock valued at $4,138,000 after acquiring an additional 71,418 shares during the last quarter. DAFNA Capital Management LLC bought a new position in shares of Cytokinetics during the second quarter valued at about $576,000. Finally, Wasatch Advisors Inc. raised its stake in Cytokinetics by 3.9% in the second quarter. Wasatch Advisors Inc. now owns 1,830,049 shares of the biopharmaceutical company’s stock worth $15,189,000 after buying an additional 68,167 shares in the last quarter. 68.45% of the stock is owned by hedge funds and other institutional investors.
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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