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Several other analysts also recently issued reports on the company. Zacks Investment Research upgraded Cytokinetics from a sell rating to a hold rating in a report on Monday, November 4th. Cantor Fitzgerald reiterated an overweight rating and issued a $20.00 price target (up from $14.00) on shares of Cytokinetics in a report on Friday, September 6th. HC Wainwright reiterated a buy rating and issued a $26.00 price target on shares of Cytokinetics in a report on Friday, October 4th. Morgan Stanley set a $16.00 price target on Cytokinetics and gave the company a hold rating in a report on Friday, August 9th. Finally, JMP Securities set a $23.00 price target on Cytokinetics and gave the company a buy rating in a report on Friday, September 13th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and five have given a buy rating to the company’s stock. Cytokinetics presently has a consensus rating of Hold and a consensus target price of $19.86.
CYTK stock traded down $0.07 on Friday, reaching $8.20. The company had a trading volume of 5,309,400 shares, compared to its average volume of 528,164. Cytokinetics has a 1 year low of $5.75 and a 1 year high of $14.94. The company has a market cap of $654.04 million, a P/E ratio of -4.21 and a beta of 1.54. The company has a debt-to-equity ratio of 12.35, a quick ratio of 8.42 and a current ratio of 8.20. The company’s fifty day moving average is $11.43 and its 200 day moving average is $11.39.
Cytokinetics (NASDAQ:CYTK) last announced its quarterly earnings results on Thursday, October 31st. The biopharmaceutical company reported ($0.50) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.56) by $0.06. Cytokinetics had a negative return on equity of 10,351.99% and a negative net margin of 378.70%. The firm had revenue of $6.06 million during the quarter, compared to the consensus estimate of $7.80 million. On average, sell-side analysts predict that Cytokinetics will post -2.02 earnings per share for the current year.
In other Cytokinetics news, CEO Robert I. Blum sold 6,000 shares of the company’s stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $12.74, for a total value of $76,440.00. Following the completion of the transaction, the chief executive officer now directly owns 244,022 shares of the company’s stock, valued at approximately $3,108,840.28. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Over the last three months, insiders sold 22,500 shares of company stock valued at $271,575. 5.70% of the stock is currently owned by corporate insiders.
Large investors have recently bought and sold shares of the business. Aperio Group LLC purchased a new position in Cytokinetics in the 2nd quarter valued at about $183,000. Parametric Portfolio Associates LLC boosted its position in Cytokinetics by 32.7% in the 2nd quarter. Parametric Portfolio Associates LLC now owns 104,570 shares of the biopharmaceutical company’s stock valued at $1,176,000 after buying an additional 25,783 shares during the last quarter. Vanguard Group Inc. boosted its position in Cytokinetics by 3.9% in the 2nd quarter. Vanguard Group Inc. now owns 3,961,497 shares of the biopharmaceutical company’s stock valued at $44,566,000 after buying an additional 147,849 shares during the last quarter. Swiss National Bank boosted its position in Cytokinetics by 5.5% in the 2nd quarter. Swiss National Bank now owns 86,600 shares of the biopharmaceutical company’s stock valued at $974,000 after buying an additional 4,500 shares during the last quarter. Finally, Morgan Stanley boosted its position in Cytokinetics by 220.0% in the 2nd quarter. Morgan Stanley now owns 286,236 shares of the biopharmaceutical company’s stock valued at $3,220,000 after buying an additional 196,786 shares during the last quarter. 76.13% of the stock is owned by institutional investors.
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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