Cytokinetics (NASDAQ:CYTK) Raised to "Strong-Buy" at Cantor Fitzgerald

Cantor Fitzgerald upgraded shares of Cytokinetics (NASDAQ:CYTK - Free Report) to a strong-buy rating in a report published on Tuesday, May 13th,Zacks.com reports. Cantor Fitzgerald also issued estimates for Cytokinetics' FY2025 earnings at ($5.21) EPS.

Other equities analysts have also recently issued research reports about the stock. HC Wainwright reaffirmed a "buy" rating and set a $120.00 price target on shares of Cytokinetics in a research report on Monday, April 21st. JMP Securities reiterated a "market outperform" rating and issued a $78.00 price target on shares of Cytokinetics in a report on Thursday, April 10th. Stifel Nicolaus assumed coverage on Cytokinetics in a research note on Wednesday, January 22nd. They set a "buy" rating and a $80.00 price objective on the stock. Citigroup lowered their target price on shares of Cytokinetics from $86.00 to $80.00 and set a "buy" rating for the company in a research note on Wednesday, May 7th. Finally, Morgan Stanley set a $67.00 price target on shares of Cytokinetics in a research report on Friday, March 7th. Three equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $74.44.

Cytokinetics Stock Up 3.3%

Shares of Cytokinetics stock traded up $1.00 during trading hours on Tuesday, hitting $31.75. 931,257 shares of the company's stock traded hands, compared to its average volume of 1,677,888. Cytokinetics has a twelve month low of $29.31 and a twelve month high of $61.40. The company has a market cap of $3.79 billion, a PE ratio of -5.90 and a beta of 0.81. The company has a quick ratio of 9.28, a current ratio of 9.28 and a debt-to-equity ratio of 5.93. The stock has a 50 day simple moving average of $38.62 and a 200-day simple moving average of $45.04.

Cytokinetics (NASDAQ:CYTK - Get Free Report) last posted its quarterly earnings data on Tuesday, May 6th. The biopharmaceutical company reported ($1.36) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.41) by $0.05. The business had revenue of $1.60 million for the quarter, compared to analysts' expectations of $2.77 million. Cytokinetics's revenue for the quarter was up 89.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($1.33) earnings per share. Equities research analysts anticipate that Cytokinetics will post -5.24 earnings per share for the current fiscal year.

Insider Activity at Cytokinetics

In other Cytokinetics news, Director Muna Bhanji sold 1,454 shares of the company's stock in a transaction dated Thursday, May 15th. The shares were sold at an average price of $29.73, for a total value of $43,227.42. Following the completion of the sale, the director now directly owns 23,510 shares of the company's stock, valued at approximately $698,952.30. This represents a 5.82% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Andrew Callos sold 4,002 shares of the company's stock in a transaction on Monday, May 5th. The shares were sold at an average price of $36.68, for a total value of $146,793.36. Following the completion of the transaction, the executive vice president now directly owns 60,687 shares in the company, valued at $2,225,999.16. This represents a 6.19% decrease in their position. The disclosure for this sale can be found here. Insiders sold 94,816 shares of company stock worth $3,850,385 in the last 90 days. Corporate insiders own 2.70% of the company's stock.

Institutional Investors Weigh In On Cytokinetics

A number of large investors have recently made changes to their positions in the company. Jones Financial Companies Lllp raised its stake in Cytokinetics by 189.8% during the 4th quarter. Jones Financial Companies Lllp now owns 571 shares of the biopharmaceutical company's stock valued at $27,000 after purchasing an additional 374 shares during the period. Centricity Wealth Management LLC acquired a new position in Cytokinetics during the fourth quarter valued at $29,000. Fifth Third Bancorp lifted its stake in Cytokinetics by 42.2% in the 1st quarter. Fifth Third Bancorp now owns 981 shares of the biopharmaceutical company's stock worth $39,000 after acquiring an additional 291 shares in the last quarter. Parallel Advisors LLC boosted its position in Cytokinetics by 500.5% during the 1st quarter. Parallel Advisors LLC now owns 1,099 shares of the biopharmaceutical company's stock worth $44,000 after acquiring an additional 916 shares during the period. Finally, GAMMA Investing LLC boosted its position in Cytokinetics by 281.0% during the 1st quarter. GAMMA Investing LLC now owns 1,120 shares of the biopharmaceutical company's stock worth $45,000 after acquiring an additional 826 shares during the period.

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. The company develops small molecule drug candidates primarily engineered to impact muscle function and contractility.