Brokerages Set Cytokinetics, Incorporated (NASDAQ:CYTK) Price Target at $73.71

Shares of Cytokinetics, Incorporated (NASDAQ:CYTK - Get Free Report) have been assigned an average rating of "Moderate Buy" from the sixteen brokerages that are presently covering the stock, Marketbeat reports. Three research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have given a strong buy rating to the company. The average 12 month price target among brokers that have covered the stock in the last year is $73.71.

CYTK has been the subject of a number of research reports. Cantor Fitzgerald upgraded Cytokinetics to a "strong-buy" rating in a report on Tuesday, May 13th. Needham & Company LLC reaffirmed a "buy" rating and set a $72.00 price target on shares of Cytokinetics in a research report on Wednesday, May 14th. UBS Group dropped their price objective on shares of Cytokinetics from $47.00 to $41.00 and set a "neutral" rating for the company in a research report on Friday, May 2nd. HC Wainwright reissued a "buy" rating and issued a $120.00 target price on shares of Cytokinetics in a research note on Monday, April 21st. Finally, Morgan Stanley set a $67.00 target price on shares of Cytokinetics in a report on Friday, March 7th.

Cytokinetics Trading Down 1.4%

Shares of NASDAQ CYTK traded down $0.44 during trading on Friday, hitting $30.88. 1,251,619 shares of the company traded hands, compared to its average volume of 1,594,703. The firm has a market capitalization of $3.69 billion, a P/E ratio of -5.74 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 company has a 50-day moving average price of $36.19 and a 200-day moving average price of $43.58. Cytokinetics has a 1 year low of $29.31 and a 1 year high of $61.38.

Cytokinetics (NASDAQ:CYTK - Get Free Report) last issued its earnings results on Tuesday, May 6th. The biopharmaceutical company reported ($1.36) earnings per share for the quarter, beating analysts' consensus estimates of ($1.41) by $0.05. The firm had revenue of $1.60 million during the quarter, compared to analyst estimates of $2.77 million. Cytokinetics's revenue was up 89.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($1.33) EPS. On average, equities analysts predict that Cytokinetics will post -5.24 EPS for the current year.

Insider Buying and Selling at Cytokinetics

In other news, Director Muna Bhanji sold 1,454 shares of the firm'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 transaction, the director now directly owns 23,510 shares in the company, valued at approximately $698,952.30. This trade represents a 5.82% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Robert I. Blum sold 16,970 shares of the business's stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $43.44, for a total transaction of $737,176.80. Following the sale, the chief executive officer now directly owns 364,181 shares of the company's stock, valued at approximately $15,820,022.64. This represents a 4.45% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 94,816 shares of company stock worth $3,850,385 over the last 90 days. Insiders own 2.70% of the company's stock.

Institutional Investors Weigh In On Cytokinetics

A number of hedge funds have recently added to or reduced their stakes in the stock. Jones Financial Companies Lllp increased its holdings in shares of Cytokinetics by 189.8% in the 4th quarter. Jones Financial Companies Lllp now owns 571 shares of the biopharmaceutical company's stock worth $27,000 after acquiring an additional 374 shares during the period. Centricity Wealth Management LLC bought a new position in Cytokinetics in the 4th quarter worth about $29,000. Fifth Third Bancorp increased its stake in shares of Cytokinetics by 42.2% in the first quarter. Fifth Third Bancorp now owns 981 shares of the biopharmaceutical company's stock valued at $39,000 after purchasing an additional 291 shares during the period. Parallel Advisors LLC increased its stake in shares of Cytokinetics by 500.5% in the first quarter. Parallel Advisors LLC now owns 1,099 shares of the biopharmaceutical company's stock valued at $44,000 after purchasing an additional 916 shares during the period. Finally, GAMMA Investing LLC raised its holdings in shares of Cytokinetics by 281.0% during the first quarter. GAMMA Investing LLC now owns 1,120 shares of the biopharmaceutical company's stock valued at $45,000 after buying an additional 826 shares during the last quarter.

About Cytokinetics

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.