Cytokinetics, Inc. (NASDAQ:CYTK)’s share price was up 5.8% during mid-day trading on Tuesday . The company traded as high as $9.20 and last traded at $8.96. Approximately 839,617 shares changed hands during mid-day trading, an increase of 54% from the average daily volume of 546,253 shares. The stock had previously closed at $8.47.

A number of equities analysts have recently issued reports on CYTK shares. HC Wainwright reissued a “buy” rating and issued a $21.00 target price on shares of Cytokinetics in a report on Tuesday, March 19th. Piper Jaffray Companies increased their target price on Cytokinetics from $12.00 to $13.00 and gave the stock an “overweight” rating in a report on Wednesday, March 20th. ValuEngine raised Cytokinetics from a “hold” rating to a “buy” rating in a report on Wednesday, March 20th. Zacks Investment Research cut Cytokinetics from a “buy” rating to a “hold” rating in a report on Tuesday, February 26th. Finally, BidaskClub cut Cytokinetics from a “hold” rating to a “sell” rating in a report on Wednesday, March 6th. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $13.15.

The company has a quick ratio of 9.36, a current ratio of 9.36 and a debt-to-equity ratio of 1.53. The firm has a market capitalization of $456.22 million, a PE ratio of -4.71 and a beta of 2.07.

Cytokinetics (NASDAQ:CYTK) last issued its earnings results on Thursday, February 21st. The biopharmaceutical company reported ($0.48) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.51) by $0.03. Cytokinetics had a negative return on equity of 168.21% and a negative net margin of 337.42%. The business had revenue of $9.38 million during the quarter, compared to analysts’ expectations of $3.46 million. Equities research analysts anticipate that Cytokinetics, Inc. will post -1.75 EPS for the current year.

A number of hedge funds have recently added to or reduced their stakes in CYTK. Great Point Partners LLC increased its holdings in Cytokinetics by 45.6% during the 4th quarter. Great Point Partners LLC now owns 3,173,288 shares of the biopharmaceutical company’s stock valued at $20,055,000 after purchasing an additional 993,600 shares in the last quarter. BlackRock Inc. increased its holdings in Cytokinetics by 9.5% during the 3rd quarter. BlackRock Inc. now owns 8,698,387 shares of the biopharmaceutical company’s stock valued at $85,680,000 after purchasing an additional 754,593 shares in the last quarter. Fosun International Ltd acquired a new stake in Cytokinetics during the 4th quarter valued at $1,113,000. Foresite Capital Management IV LLC acquired a new stake in Cytokinetics during the 4th quarter valued at $1,107,000. Finally, Dimensional Fund Advisors LP increased its holdings in Cytokinetics by 233.6% during the 3rd quarter. Dimensional Fund Advisors LP now owns 229,377 shares of the biopharmaceutical company’s stock valued at $2,259,000 after purchasing an additional 160,622 shares in the last quarter. 71.79% of the stock is owned by hedge funds and other institutional investors.

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Cytokinetics Company Profile (NASDAQ:CYTK)

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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