BidaskClub Downgrades Cytokinetics (NASDAQ:CYTK) to Buy

Cytokinetics (NASDAQ:CYTK) was downgraded by equities researchers at BidaskClub from a “strong-buy” rating to a “buy” rating in a note issued to investors on Wednesday, BidAskClub reports.

Other equities analysts have also recently issued reports about the stock. HC Wainwright reissued a “buy” rating and issued a $21.00 price objective on shares of Cytokinetics in a research note on Tuesday, March 19th. Zacks Investment Research lowered shares of Cytokinetics from a “buy” rating to a “hold” rating in a report on Tuesday, February 26th. Cantor Fitzgerald reiterated a “buy” rating and set a $14.00 price objective on shares of Cytokinetics in a research note on Friday, May 10th. ValuEngine raised shares of Cytokinetics from a “hold” rating to a “buy” rating in a research report on Wednesday, March 20th. Finally, Piper Jaffray Companies upped their price objective on shares of Cytokinetics from $12.00 to $13.00 and gave the company an “overweight” rating in a report on Wednesday, March 20th. Two investment analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $14.60.

Shares of CYTK opened at $9.45 on Wednesday. The stock has a market capitalization of $545.46 million, a price-to-earnings ratio of -4.85 and a beta of 1.71. The company has a debt-to-equity ratio of 12.35, a quick ratio of 7.09 and a current ratio of 7.09. Cytokinetics has a fifty-two week low of $5.75 and a fifty-two week high of $11.33.

Cytokinetics (NASDAQ:CYTK) last issued its earnings results on Thursday, May 9th. The biopharmaceutical company reported ($0.54) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.47) by ($0.07). Cytokinetics had a negative return on equity of 269.27% and a negative net margin of 303.70%. The company had revenue of $8.46 million during the quarter, compared to analysts’ expectations of $6.21 million. As a group, equities analysts predict that Cytokinetics will post -1.85 earnings per share for the current year.

A number of large investors have recently modified their holdings of CYTK. Bank of Montreal Can raised its holdings in Cytokinetics by 109.5% during the first quarter. Bank of Montreal Can now owns 3,321 shares of the biopharmaceutical company’s stock worth $27,000 after purchasing an additional 1,736 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its position in Cytokinetics by 141.6% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,426 shares of the biopharmaceutical company’s stock valued at $28,000 after buying an additional 2,594 shares during the last quarter. Neuburgh Advisers LLC grew its position in Cytokinetics by 55.6% in the 4th quarter. Neuburgh Advisers LLC now owns 6,776 shares of the biopharmaceutical company’s stock valued at $43,000 after buying an additional 2,420 shares during the last quarter. BNP Paribas Arbitrage SA grew its position in Cytokinetics by 59,718.8% in the 1st quarter. BNP Paribas Arbitrage SA now owns 9,571 shares of the biopharmaceutical company’s stock valued at $77,000 after buying an additional 9,555 shares during the last quarter. Finally, Flinton Capital Management LLC boosted its position in shares of Cytokinetics by 55.6% during the 4th quarter. Flinton Capital Management LLC now owns 10,472 shares of the biopharmaceutical company’s stock worth $66,000 after purchasing an additional 3,740 shares in the last quarter. 69.29% of the stock is currently owned by hedge funds and other institutional investors.

Cytokinetics Company Profile

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

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