Cytokinetics (NASDAQ:CYTK) had its price target cut by investment analysts at Piper Jaffray Companies to $13.00 in a note issued to investors on Monday. The firm currently has an “overweight” rating on the biopharmaceutical company’s stock. Piper Jaffray Companies’ price objective would indicate a potential upside of 55.69% from the stock’s previous close.
Several other research analysts have also recently issued reports on CYTK. Cowen reaffirmed a “buy” rating and issued a $11.00 target price on shares of Cytokinetics in a report on Tuesday, February 20th. Morgan Stanley lifted their target price on shares of Cytokinetics from $17.00 to $18.00 and gave the stock an “overweight” rating in a report on Wednesday, February 21st. BidaskClub upgraded shares of Cytokinetics from a “strong sell” rating to a “sell” rating in a research note on Tuesday, March 6th. ValuEngine lowered shares of Cytokinetics from a “sell” rating to a “strong sell” rating in a research note on Thursday, March 29th. Finally, Cantor Fitzgerald set a $10.00 price target on shares of Cytokinetics and gave the stock a “hold” rating in a research note on Tuesday, April 24th. Four research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Cytokinetics currently has a consensus rating of “Buy” and a consensus price target of $15.56.
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Shares of Cytokinetics stock opened at $8.35 on Monday. The company has a debt-to-equity ratio of 0.32, a current ratio of 7.07 and a quick ratio of 7.07. The stock has a market capitalization of $536.56 million, a price-to-earnings ratio of -3.22 and a beta of 1.17. Cytokinetics has a 52-week low of $6.75 and a 52-week high of $15.95.
Cytokinetics (NASDAQ:CYTK) last issued its earnings results on Thursday, April 26th. The biopharmaceutical company reported ($0.56) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.50) by ($0.06). The firm had revenue of $5.27 million during the quarter, compared to analysts’ expectations of $5.50 million. Cytokinetics had a negative return on equity of 99.50% and a negative net margin of 172.27%. research analysts predict that Cytokinetics will post -1.99 EPS for the current year.
In related news, EVP Fady Ibraham Malik sold 3,000 shares of the business’s stock in a transaction that occurred on Thursday, June 7th. The shares were sold at an average price of $8.95, for a total transaction of $26,850.00. Following the completion of the sale, the executive vice president now directly owns 96,067 shares in the company, valued at $859,799.65. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Robert I. Blum sold 4,000 shares of the business’s stock in a transaction that occurred on Tuesday, June 5th. The shares were sold at an average price of $8.28, for a total transaction of $33,120.00. Following the sale, the chief executive officer now owns 176,022 shares of the company’s stock, valued at $1,457,462.16. The disclosure for this sale can be found here. Insiders sold 15,000 shares of company stock valued at $123,570 over the last quarter. Company insiders own 5.10% of the company’s stock.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Virtu Financial LLC bought a new stake in Cytokinetics during the fourth quarter valued at approximately $112,000. Teacher Retirement System of Texas bought a new stake in Cytokinetics during the fourth quarter valued at approximately $113,000. DRW Securities LLC bought a new stake in Cytokinetics during the first quarter valued at approximately $101,000. Ellington Management Group LLC bought a new stake in Cytokinetics during the fourth quarter valued at approximately $128,000. Finally, Granite Investment Advisors LLC bought a new stake in Cytokinetics during the fourth quarter valued at approximately $151,000. Institutional investors own 68.01% 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.