Wall Street analysts predict that Cytokinetics, Inc. (NASDAQ:CYTK) will report sales of $6.81 million for the current fiscal quarter, Zacks reports. Two analysts have made estimates for Cytokinetics’ earnings, with the highest sales estimate coming in at $7.50 million and the lowest estimate coming in at $6.11 million. Cytokinetics reported sales of $6.22 million in the same quarter last year, which indicates a positive year-over-year growth rate of 9.5%. The business is scheduled to announce its next quarterly earnings results on Thursday, July 25th.

According to Zacks, analysts expect that Cytokinetics will report full year sales of $30.27 million for the current year, with estimates ranging from $30.00 million to $30.80 million. For the next fiscal year, analysts expect that the firm will post sales of $32.92 million, with estimates ranging from $31.50 million to $35.00 million. Zacks’ sales averages are an average based on a survey of research firms that that provide coverage for Cytokinetics.

Cytokinetics (NASDAQ:CYTK) last issued its quarterly earnings data on Thursday, May 9th. The biopharmaceutical company reported ($0.54) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.47) by ($0.07). Cytokinetics had a negative return on equity of 206.40% and a negative net margin of 303.70%. The business had revenue of $8.46 million for the quarter, compared to analyst estimates of $6.21 million.

Several analysts have issued reports on the company. ValuEngine downgraded Cytokinetics from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, April 30th. Zacks Investment Research upgraded Cytokinetics from a “hold” rating to a “buy” rating and set a $10.00 price target for the company in a report on Wednesday, April 24th. BidaskClub upgraded Cytokinetics from a “hold” rating to a “buy” rating in a report on Friday, April 26th. HC Wainwright reiterated a “buy” rating and set a $21.00 price target on shares of Cytokinetics in a report on Tuesday, March 19th. Finally, Piper Jaffray Companies lifted their price target on Cytokinetics from $12.00 to $13.00 and gave the stock an “overweight” rating in a report on Wednesday, March 20th. One investment analyst has rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $14.60.

Shares of CYTK traded up $0.17 during midday trading on Friday, hitting $10.24. The stock had a trading volume of 6,256 shares, compared to its average volume of 533,801. Cytokinetics has a twelve month low of $5.75 and a twelve month high of $10.44. The company has a market capitalization of $498.91 million, a price-to-earnings ratio of -5.06 and a beta of 2.05. The company has a debt-to-equity ratio of 1.53, a current ratio of 9.36 and a quick ratio of 9.36.

Institutional investors have recently bought and sold shares of the stock. Magnus Financial Group LLC acquired a new stake in Cytokinetics during the fourth quarter worth approximately $75,000. State of Alaska Department of Revenue lifted its position in Cytokinetics by 9.4% during the fourth quarter. State of Alaska Department of Revenue now owns 18,233 shares of the biopharmaceutical company’s stock worth $115,000 after acquiring an additional 1,564 shares during the last quarter. D. E. Shaw & Co. Inc. lifted its position in Cytokinetics by 48.8% during the fourth quarter. D. E. Shaw & Co. Inc. now owns 187,083 shares of the biopharmaceutical company’s stock worth $1,183,000 after acquiring an additional 61,344 shares during the last quarter. Legal & General Group Plc lifted its position in Cytokinetics by 16.2% during the third quarter. Legal & General Group Plc now owns 114,983 shares of the biopharmaceutical company’s stock worth $1,132,000 after acquiring an additional 16,053 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in Cytokinetics by 233.6% during the third quarter. Dimensional Fund Advisors LP now owns 229,377 shares of the biopharmaceutical company’s stock worth $2,259,000 after acquiring an additional 160,622 shares during the last quarter. Institutional investors and hedge funds own 71.91% of the company’s stock.

Cytokinetics Company Profile

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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Earnings History and Estimates for Cytokinetics (NASDAQ:CYTK)

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