Cytokinetics, Incorporated (NASDAQ:CYTK) Receives Consensus Recommendation of "Moderate Buy" from Brokerages

Shares of Cytokinetics, Incorporated (NASDAQ:CYTK - Get Free Report) have earned an average rating of "Moderate Buy" from the fifteen analysts that are covering the stock, MarketBeat.com reports. Three research analysts have rated the stock with a hold rating, ten have given a buy rating and two have given a strong buy rating to the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $70.92.

A number of research analysts have issued reports on CYTK shares. Mizuho decreased their target price on shares of Cytokinetics from $103.00 to $84.00 and set an "outperform" rating on the stock in a research report on Thursday, May 29th. Cantor Fitzgerald upgraded shares of Cytokinetics to a "strong-buy" rating in a research report on Tuesday, May 13th. Royal Bank Of Canada decreased their target price on shares of Cytokinetics from $82.00 to $80.00 and set an "outperform" rating on the stock in a research report on Wednesday, May 7th. UBS Group decreased their target price on shares of Cytokinetics from $47.00 to $41.00 and set a "neutral" rating on the stock in a research report on Friday, May 2nd. Finally, Citigroup decreased their target price on shares of Cytokinetics from $86.00 to $80.00 and set a "buy" rating on the stock in a research report on Wednesday, May 7th.

Insider Buying and Selling

In related news, Director Wendall Wierenga sold 20,000 shares of the stock in a transaction that occurred on Monday, April 21st. The shares were sold at an average price of $38.46, for a total transaction of $769,200.00. Following the sale, the director now owns 24,848 shares in the company, valued at approximately $955,654.08. This trade represents a 44.60% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Andrew Callos sold 2,886 shares of the stock in a transaction that occurred on Monday, April 7th. The stock was sold at an average price of $35.78, for a total transaction of $103,261.08. Following the sale, the executive vice president now owns 64,689 shares in the company, valued at $2,314,572.42. This represents a 4.27% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 81,277 shares of company stock worth $2,998,921. Corporate insiders own 3.40% of the company's stock.

Hedge Funds Weigh In On Cytokinetics

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its holdings in shares of Cytokinetics by 1.3% during the fourth quarter. Vanguard Group Inc. now owns 11,915,821 shares of the biopharmaceutical company's stock worth $560,520,000 after purchasing an additional 154,216 shares during the period. T. Rowe Price Investment Management Inc. raised its stake in Cytokinetics by 11.0% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 10,752,123 shares of the biopharmaceutical company's stock worth $505,780,000 after buying an additional 1,062,136 shares during the last quarter. Vestal Point Capital LP raised its stake in Cytokinetics by 10.2% during the first quarter. Vestal Point Capital LP now owns 2,590,531 shares of the biopharmaceutical company's stock worth $104,113,000 after buying an additional 240,531 shares during the last quarter. Deep Track Capital LP raised its stake in Cytokinetics by 296.9% during the fourth quarter. Deep Track Capital LP now owns 2,500,000 shares of the biopharmaceutical company's stock worth $117,600,000 after buying an additional 1,870,094 shares during the last quarter. Finally, Marshall Wace LLP raised its stake in Cytokinetics by 14.9% during the fourth quarter. Marshall Wace LLP now owns 2,153,313 shares of the biopharmaceutical company's stock worth $101,292,000 after buying an additional 279,612 shares during the last quarter.

Cytokinetics Stock Performance

CYTK traded down $0.75 on Thursday, reaching $33.16. The company had a trading volume of 2,354,466 shares, compared to its average volume of 1,520,602. Cytokinetics has a fifty-two week low of $29.31 and a fifty-two week high of $61.38. The stock has a market cap of $3.96 billion, a P/E ratio of -6.27 and a beta of 0.60. The company's fifty day moving average is $33.79 and its 200 day moving average is $41.02.

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

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.