Cytokinetics (NASDAQ:CYTK) has been given a $14.00 price objective by investment analysts at Cantor Fitzgerald in a research report issued to clients and investors on Friday. The firm presently has a “buy” rating on the biopharmaceutical company’s stock. Cantor Fitzgerald’s price target indicates a potential upside of 89.19% from the stock’s current price.
Other equities analysts also recently issued research reports about the stock. BidaskClub downgraded shares of Cytokinetics from a “buy” rating to a “hold” rating in a research note on Thursday, July 19th. ValuEngine raised shares of Cytokinetics from a “sell” rating to a “hold” rating in a research note on Thursday, August 23rd. Zacks Investment Research downgraded shares of Cytokinetics from a “hold” rating to a “sell” rating in a research note on Wednesday, October 3rd. Morgan Stanley set a $10.00 price target on shares of Cytokinetics and gave the company a “hold” rating in a research note on Friday, October 5th. Finally, HC Wainwright set a $24.00 price target on shares of Cytokinetics and gave the company a “buy” rating in a research note on Friday, July 27th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and seven have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $13.00.
Shares of NASDAQ CYTK traded up $0.47 during trading hours on Friday, hitting $7.40. 717,021 shares of the stock were exchanged, compared to its average volume of 341,348. The firm has a market capitalization of $404.25 million, a price-to-earnings ratio of -2.86 and a beta of 1.98. The company has a current ratio of 8.95, a quick ratio of 8.95 and a debt-to-equity ratio of 0.41. Cytokinetics has a 1-year low of $6.20 and a 1-year high of $13.65.
In related news, CEO Robert I. Blum sold 4,000 shares of Cytokinetics stock in a transaction on 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 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 Securities & Exchange Commission, which is available through this link. Insiders have sold 12,500 shares of company stock valued at $102,650 in the last three months. 5.10% of the stock is owned by insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in CYTK. JPMorgan Chase & Co. raised its stake in Cytokinetics by 28.6% during the first quarter. JPMorgan Chase & Co. now owns 112,399 shares of the biopharmaceutical company’s stock worth $809,000 after buying an additional 25,014 shares during the last quarter. Principal Financial Group Inc. raised its stake in Cytokinetics by 2.5% during the first quarter. Principal Financial Group Inc. now owns 397,603 shares of the biopharmaceutical company’s stock worth $2,863,000 after buying an additional 9,786 shares during the last quarter. UBS Group AG raised its stake in Cytokinetics by 226.7% during the first quarter. UBS Group AG now owns 54,910 shares of the biopharmaceutical company’s stock worth $396,000 after buying an additional 38,105 shares during the last quarter. A.R.T. Advisors LLC acquired a new stake in Cytokinetics in the first quarter worth $350,000. Finally, Millennium Management LLC grew its holdings in Cytokinetics by 282.2% in the first quarter. Millennium Management LLC now owns 102,172 shares of the biopharmaceutical company’s stock worth $736,000 after purchasing an additional 75,442 shares during the period. 68.39% of the stock is owned by institutional investors and hedge funds.
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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