Cytokinetics, Incorporated (NASDAQ:CYTK) Given Average Recommendation of "Moderate Buy" by Analysts

Shares of Cytokinetics, Incorporated (NASDAQ:CYTK - Get Free Report) have earned an average rating of "Moderate Buy" from the fifteen brokerages that are currently covering the company, MarketBeat.com reports. Three analysts have rated the stock with a hold recommendation, ten have assigned a buy recommendation and two have given a strong buy recommendation to the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $70.92.

CYTK has been the topic of a number of research reports. Citigroup cut their target price on shares of Cytokinetics from $86.00 to $80.00 and set a "buy" rating on the stock in a research note on Wednesday, May 7th. Bank of America lowered their price target on Cytokinetics from $62.00 to $54.00 and set a "neutral" rating for the company in a report on Tuesday, April 15th. UBS Group cut their price objective on Cytokinetics from $47.00 to $41.00 and set a "neutral" rating on the stock in a research report on Friday, May 2nd. Royal Bank Of Canada decreased their target price on Cytokinetics from $82.00 to $80.00 and set an "outperform" rating for the company in a research report on Wednesday, May 7th. Finally, HC Wainwright reiterated a "buy" rating and issued a $120.00 target price on shares of Cytokinetics in a research note on Monday, April 21st.

Cytokinetics Trading Down 2.2%

NASDAQ:CYTK traded down $0.75 on Thursday, hitting $33.16. 2,354,466 shares of the stock were exchanged, compared to its average volume of 1,543,706. The stock has a fifty day moving average of $33.92 and a 200-day moving average of $41.27. The stock has a market cap of $3.96 billion, a PE ratio of -6.27 and a beta of 0.59. Cytokinetics has a fifty-two week low of $29.31 and a fifty-two week 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 (EPS) for the quarter, topping analysts' consensus estimates of ($1.41) by $0.05. The firm had revenue of $1.60 million for the quarter, compared to analysts' expectations of $2.77 million. During the same quarter in the previous year, the firm posted ($1.33) EPS. The firm's revenue for the quarter was up 89.1% compared to the same quarter last year. As a group, analysts predict that Cytokinetics will post -5.24 earnings per share for the current year.

Insider Transactions at Cytokinetics

In other Cytokinetics news, CEO Robert I. Blum sold 15,000 shares of the company's stock in a transaction that occurred on Monday, March 31st. The stock was sold at an average price of $40.75, for a total transaction of $611,250.00. Following the sale, the chief executive officer now owns 427,629 shares in the company, valued at $17,425,881.75. This represents a 3.39% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Wendall Wierenga sold 20,000 shares of the stock in a transaction that occurred on Monday, April 21st. The stock was sold at an average price of $38.46, for a total value of $769,200.00. Following the transaction, the director now directly owns 24,848 shares in the company, valued at approximately $955,654.08. This represents a 44.60% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 81,277 shares of company stock valued at $2,998,921. 2.70% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Cytokinetics

Institutional investors and hedge funds have recently made changes to their positions in the company. Jones Financial Companies Lllp boosted its holdings in Cytokinetics by 189.8% in the fourth quarter. Jones Financial Companies Lllp now owns 571 shares of the biopharmaceutical company's stock worth $27,000 after purchasing an additional 374 shares during the period. Fifth Third Bancorp lifted its position in shares of 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 buying an additional 291 shares during the last quarter. Parallel Advisors LLC boosted its holdings in shares of Cytokinetics by 500.5% in the 1st quarter. Parallel Advisors LLC now owns 1,099 shares of the biopharmaceutical company's stock valued at $44,000 after buying an additional 916 shares during the period. GAMMA Investing LLC grew its position in shares of Cytokinetics by 281.0% during the 1st 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. Finally, AlphaQuest LLC grew its position in shares of Cytokinetics by 113,500.0% during the 4th quarter. AlphaQuest LLC now owns 1,136 shares of the biopharmaceutical company's stock valued at $53,000 after buying an additional 1,135 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.