Cytokinetics (NASDAQ:CYTK) was downgraded by investment analysts at BidaskClub from a “buy” rating to a “hold” rating in a research note issued to investors on Monday.
Other equities analysts have also issued reports about the company. Zacks Investment Research upgraded Cytokinetics from a “hold” rating to a “buy” rating and set a $10.00 price objective on the stock in a research report on Saturday, July 14th. HC Wainwright raised their price target on Cytokinetics to $24.00 and gave the stock a “buy” rating in a research report on Monday, June 18th. Cantor Fitzgerald restated a “buy” rating and set a $14.00 price target on shares of Cytokinetics in a research report on Wednesday, October 3rd. ValuEngine upgraded Cytokinetics from a “hold” rating to a “buy” rating in a research report on Wednesday, October 3rd. Finally, Morgan Stanley lowered Cytokinetics from an “overweight” rating to an “equal weight” rating and reduced their price target for the stock from $18.00 to $9.00 in a research report on Wednesday, August 1st. 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 company’s stock. The stock has a consensus rating of “Buy” and an average price target of $13.00.
Shares of Cytokinetics stock opened at $8.66 on Monday. The company has a debt-to-equity ratio of 0.41, a quick ratio of 8.95 and a current ratio of 8.95. The stock has a market cap of $538.09 million, a PE ratio of -3.34 and a beta of 1.41. Cytokinetics has a 12 month low of $6.20 and a 12 month high of $15.65.
Cytokinetics (NASDAQ:CYTK) last announced its quarterly earnings data on Thursday, July 26th. The biopharmaceutical company reported ($0.51) EPS for the quarter, meeting the consensus estimate of ($0.51). The firm had revenue of $6.22 million for the quarter, compared to the consensus estimate of $5.54 million. Research analysts forecast that Cytokinetics will post -2.03 EPS for the current year.
In related news, CEO Robert I. Blum sold 4,000 shares of the firm’s stock in a transaction that occurred on Friday, October 5th. The stock was sold at an average price of $8.79, for a total transaction of $35,160.00. Following the transaction, the chief executive officer now directly owns 160,022 shares in the company, valued at approximately $1,406,593.38. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Over the last 90 days, insiders have sold 16,500 shares of company stock worth $129,505. 5.10% of the stock is owned by corporate insiders.
A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Swiss National Bank grew its position in Cytokinetics by 13.7% during the 1st 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 during the last quarter. Principal Financial Group Inc. lifted its holdings in Cytokinetics by 2.5% in the 1st 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 period. Rhumbline Advisers lifted its holdings in Cytokinetics by 9.0% in the 2nd quarter. Rhumbline Advisers now owns 119,830 shares of the biopharmaceutical company’s stock worth $995,000 after buying an additional 9,918 shares during the period. DRW Securities LLC lifted its holdings in Cytokinetics by 91.4% in the 2nd quarter. DRW Securities LLC now owns 26,797 shares of the biopharmaceutical company’s stock worth $222,000 after buying an additional 12,797 shares during the period. Finally, Fox Run Management L.L.C. lifted its holdings in Cytokinetics by 181.8% in the 2nd quarter. Fox Run Management L.L.C. now owns 31,627 shares of the biopharmaceutical company’s stock worth $263,000 after buying an additional 20,405 shares during the period. Institutional investors and hedge funds own 68.45% of the company’s stock.
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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