Cytokinetics (CYTK) Posts Earnings Results, Beats Estimates By $0.03 EPS

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Cytokinetics (NASDAQ:CYTK) released its quarterly earnings results on Thursday. The biopharmaceutical company reported ($0.48) EPS for the quarter, beating analysts’ consensus estimates of ($0.51) by $0.03, Bloomberg Earnings reports. The firm had revenue of $9.38 million for the quarter, compared to analysts’ expectations of $3.46 million. Cytokinetics updated its FY 2019 guidance to EPS.

NASDAQ:CYTK traded up $0.14 during midday trading on Friday, hitting $7.35. The company had a trading volume of 31,955 shares, compared to its average volume of 301,384. Cytokinetics has a 52-week low of $5.90 and a 52-week high of $10.00. The firm has a market capitalization of $394.46 million, a PE ratio of -2.85 and a beta of 2.17. The company has a debt-to-equity ratio of 0.73, a quick ratio of 10.58 and a current ratio of 10.57.

In related news, CEO Robert I. Blum sold 4,000 shares of the company’s stock in a transaction on Friday, January 4th. The shares were sold at an average price of $7.11, for a total value of $28,440.00. Following the completion of the transaction, the chief executive officer now directly owns 148,022 shares in the company, valued at $1,052,436.42. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders sold 12,500 shares of company stock valued at $91,395 over the last quarter. 5.10% of the stock is owned by company insiders.

Several research analysts recently issued reports on CYTK shares. BidaskClub lowered shares of Cytokinetics from a “hold” rating to a “sell” rating in a research report on Thursday, November 1st. HC Wainwright reiterated a “buy” rating and issued a $21.00 target price on shares of Cytokinetics in a research report on Tuesday, January 22nd. ValuEngine upgraded shares of Cytokinetics from a “hold” rating to a “buy” rating in a research report on Friday, November 2nd. Finally, Zacks Investment Research upgraded shares of Cytokinetics from a “sell” rating to a “hold” rating and set a $8.00 target price for the company in a research report on Friday, November 2nd. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Cytokinetics has a consensus rating of “Buy” and a consensus price target of $13.15.

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About Cytokinetics

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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Earnings History for Cytokinetics (NASDAQ:CYTK)

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