Cytokinetics (NASDAQ:CYTK) received a $24.00 price objective from equities research analysts at HC Wainwright in a research report issued on Friday, July 27th. The firm presently has a “buy” rating on the biopharmaceutical company’s stock. HC Wainwright’s price target suggests a potential upside of 242.86% from the company’s previous close.

A number of other equities analysts also recently commented on the company. Piper Jaffray Companies dropped their price objective on Cytokinetics to $13.00 and set an “overweight” rating on the stock in a report on Monday, June 18th. ValuEngine cut Cytokinetics from a “sell” rating to a “strong sell” rating in a research report on Thursday, March 29th. BidaskClub cut Cytokinetics from a “buy” rating to a “hold” rating in a research report on Thursday, July 19th. Zacks Investment Research cut Cytokinetics from a “buy” rating to a “hold” rating in a research report on Tuesday, July 17th. Finally, Cantor Fitzgerald reaffirmed a “hold” rating and set a $10.00 target price on shares of Cytokinetics in a research report on Sunday, June 17th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and six have given a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $14.00.

Cytokinetics traded up $0.05, reaching $7.00, during mid-day trading on Friday, MarketBeat Ratings reports. The stock had a trading volume of 210,432 shares, compared to its average volume of 260,321. Cytokinetics has a fifty-two week low of $6.20 and a fifty-two week high of $15.95. The company has a market capitalization of $379.67 million, a P/E ratio of -2.70 and a beta of 1.39. The company has a debt-to-equity ratio of 0.41, a quick ratio of 7.07 and a current ratio of 8.95.

Cytokinetics (NASDAQ:CYTK) last released its quarterly earnings data on Thursday, July 26th. The biopharmaceutical company reported ($0.51) EPS for the quarter, hitting analysts’ consensus estimates of ($0.51). The firm had revenue of $6.22 million during the quarter, compared to analyst estimates of $5.54 million. sell-side analysts forecast that Cytokinetics will post -1.96 earnings per share for the current fiscal year.

In related news, EVP Fady Ibraham Malik sold 3,000 shares of the firm’s stock in a transaction on Thursday, June 7th. The stock was sold at an average price of $8.95, for a total value of $26,850.00. Following the completion of the transaction, the executive vice president now directly owns 96,067 shares of the company’s stock, valued at $859,799.65. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Robert I. Blum sold 4,000 shares of the firm’s stock in a transaction on Tuesday, June 5th. The stock was sold at an average price of $8.28, for a total value of $33,120.00. Following the completion of the transaction, the chief executive officer now directly 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 18,000 shares of company stock valued at $146,780 over the last three months. 5.10% of the stock is owned by company insiders.

A number of hedge funds have recently modified their holdings of the stock. ClariVest Asset Management LLC raised its stake in Cytokinetics by 48.9% during the second quarter. ClariVest Asset Management LLC now owns 125,050 shares of the biopharmaceutical company’s stock worth $1,037,000 after acquiring an additional 41,076 shares in the last quarter. BlackRock Inc. raised its stake in Cytokinetics by 9.5% during the second quarter. BlackRock Inc. now owns 7,943,794 shares of the biopharmaceutical company’s stock worth $65,934,000 after acquiring an additional 686,537 shares in the last quarter. Swiss National Bank raised its stake in Cytokinetics by 15.2% during the second quarter. Swiss National Bank now owns 85,400 shares of the biopharmaceutical company’s stock worth $709,000 after acquiring an additional 11,300 shares in the last quarter. Schwab Charles Investment Management Inc. raised its stake in Cytokinetics by 11.4% during the second quarter. Schwab Charles Investment Management Inc. now owns 251,805 shares of the biopharmaceutical company’s stock worth $2,090,000 after acquiring an additional 25,813 shares in the last quarter. Finally, Rhumbline Advisers raised its stake in Cytokinetics by 9.0% during the second quarter. Rhumbline Advisers now owns 119,830 shares of the biopharmaceutical company’s stock worth $995,000 after acquiring an additional 9,918 shares in the last quarter. 67.54% of the stock is owned by hedge funds and other institutional investors.

Cytokinetics Company Profile

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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Analyst Recommendations for Cytokinetics (NASDAQ:CYTK)

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