ValuEngine upgraded shares of Cytokinetics (NASDAQ:CYTK) from a hold rating to a buy rating in a research report released on Friday morning.
Several other research analysts have also weighed in on the company. Zacks Investment Research raised Cytokinetics from a sell rating to a hold rating in a research report on Friday. HC Wainwright set a $21.00 target price on Cytokinetics and gave the stock a buy rating in a research report on Friday. Cantor Fitzgerald set a $14.00 target price on Cytokinetics and gave the stock a buy rating in a research report on Friday. BidaskClub lowered Cytokinetics from a hold rating to a sell rating in a research report on Thursday. Finally, Morgan Stanley set a $10.00 target price on Cytokinetics and gave the stock a hold rating in a research report on Friday, October 5th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have issued a buy rating to the company. The stock presently has an average rating of Buy and an average price target of $13.00.
Shares of Cytokinetics stock opened at $7.40 on Friday. The stock has a market capitalization of $404.25 million, a P/E ratio of -2.86 and a beta of 1.98. The company has a debt-to-equity ratio of 0.73, a current ratio of 10.57 and a quick ratio of 8.95. Cytokinetics has a 1 year low of $6.20 and a 1 year high of $13.65.
Cytokinetics (NASDAQ:CYTK) last announced its quarterly earnings data on Thursday, November 1st. The biopharmaceutical company reported ($0.40) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.51) by $0.11. The business had revenue of $10.64 million during the quarter, compared to analysts’ expectations of $2.23 million. On average, research analysts forecast that Cytokinetics will post -2.06 earnings per share for the current year.
In other Cytokinetics news, CEO Robert I. Blum sold 4,000 shares of the company’s stock in a transaction dated Wednesday, September 5th. The stock was sold at an average price of $7.94, for a total value of $31,760.00. Following the transaction, the chief executive officer now directly owns 164,022 shares of the company’s stock, valued at approximately $1,302,334.68. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Over the last ninety days, insiders sold 12,500 shares of company stock worth $102,650. Insiders own 5.10% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the company. DRW Securities LLC increased its holdings in shares of Cytokinetics by 91.4% during the 2nd quarter. DRW Securities LLC now owns 26,797 shares of the biopharmaceutical company’s stock valued at $222,000 after acquiring an additional 12,797 shares during the last quarter. Fox Run Management L.L.C. increased its holdings in shares of Cytokinetics by 181.8% during the 2nd quarter. Fox Run Management L.L.C. now owns 31,627 shares of the biopharmaceutical company’s stock valued at $263,000 after acquiring an additional 20,405 shares during the last quarter. A.R.T. Advisors LLC acquired a new position in shares of Cytokinetics during the 1st quarter valued at about $350,000. UBS Group AG increased its holdings in shares of Cytokinetics by 226.7% during the 1st quarter. UBS Group AG now owns 54,910 shares of the biopharmaceutical company’s stock valued at $396,000 after acquiring an additional 38,105 shares during the last quarter. Finally, DAFNA Capital Management LLC acquired a new position in shares of Cytokinetics during the 2nd quarter valued at about $576,000. 68.39% of the stock is currently owned by institutional investors and hedge funds.
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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