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

Key Points

• Analysts have a consensus "Moderate Buy" on Cytokinetics from 22 brokerages (17 Buy, 1 Strong Buy, 3 Hold, 1 Sell), with an average 12‑month price target of $90.55.
• Company insiders — including CEO Robert I. Blum and EVP Andrew Callos — sold shares on April 15 under prearranged Rule 10b5‑1 plans; insiders sold 144,005 shares (~$9.0M) in the last quarter and now own 3.40% of the stock.
• In the latest quarter Cytokinetics reported EPS of −$1.50 (missed by $0.02) but revenue of $17.76M topped estimates; the stock trades near $65.80 with a market cap of $8.1B and a 12‑month range of $29.31–$70.98.

Cytokinetics, Incorporated (NASDAQ:CYTK - Get Free Report) has earned an average recommendation of "Moderate Buy" from the twenty-two brokerages that are currently covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $90.55.

Several equities research analysts have recently weighed in on CYTK shares. Mizuho upped their price objective on Cytokinetics from $84.00 to $100.00 and gave the company an "outperform" rating in a research note on Wednesday, March 18th. Citizens Jmp raised their target price on Cytokinetics from $88.00 to $96.00 and gave the stock a "market outperform" rating in a research report on Wednesday, February 25th. Jefferies Financial Group reaffirmed a "buy" rating and issued a $90.00 price target on shares of Cytokinetics in a research note on Friday, January 9th. Royal Bank Of Canada upped their price target on Cytokinetics from $95.00 to $101.00 and gave the company an "outperform" rating in a research report on Friday, February 20th. Finally, Weiss Ratings reiterated a "sell (d-)" rating on shares of Cytokinetics in a research note on Wednesday, January 21st.

Insider Activity

In related news, CEO Robert I. Blum sold 7,500 shares of the stock in a transaction dated Wednesday, April 15th. The shares were sold at an average price of $65.38, for a total transaction of $490,350.00. Following the completion of the sale, the chief executive officer owned 415,330 shares in the company, valued at $27,154,275.40. This trade represents a 1.77% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Andrew Callos sold 7,449 shares of the business's stock in a transaction dated Wednesday, April 15th. The shares were sold at an average price of $66.02, for a total transaction of $491,782.98. Following the completion of the transaction, the executive vice president owned 58,555 shares in the company, valued at approximately $3,865,801.10. This trade represents a 11.29% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 144,005 shares of company stock worth $8,996,790 in the last quarter. 3.40% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of CYTK. Lisanti Capital Growth LLC acquired a new stake in Cytokinetics during the 3rd quarter worth $2,697,000. Hudson Bay Capital Management LP raised its position in shares of Cytokinetics by 15.4% during the 3rd quarter. Hudson Bay Capital Management LP now owns 182,131 shares of the biopharmaceutical company's stock valued at $10,010,000 after acquiring an additional 24,345 shares during the last quarter. Y Intercept Hong Kong Ltd acquired a new position in shares of Cytokinetics in the 3rd quarter valued at $1,359,000. Moody Aldrich Partners LLC bought a new position in shares of Cytokinetics in the 3rd quarter worth $4,532,000. Finally, Knott David M Jr bought a new position in shares of Cytokinetics in the 3rd quarter worth $1,649,000.

Cytokinetics Stock Performance

Shares of Cytokinetics stock opened at $65.80 on Wednesday. The firm has a market cap of $8.10 billion, a P/E ratio of -10.08 and a beta of 0.47. The firm's 50-day simple moving average is $64.27 and its 200-day simple moving average is $63.39. Cytokinetics has a twelve month low of $29.31 and a twelve month high of $70.98.

Cytokinetics (NASDAQ:CYTK - Get Free Report) last posted its quarterly earnings results on Tuesday, February 24th. The biopharmaceutical company reported ($1.50) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.48) by ($0.02). The company had revenue of $17.76 million for the quarter, compared to analysts' expectations of $8.02 million. The firm's quarterly revenue was up 4.9% on a year-over-year basis. During the same period in the previous year, the business earned ($1.26) earnings per share. On average, equities analysts forecast that Cytokinetics will post -6.22 earnings per share for the current fiscal year.

Cytokinetics Company Profile

Cytokinetics, Inc is a late‐stage biopharmaceutical company focused on the discovery and development of novel small‐molecule therapeutics that modulate muscle function. Founded in 1998 and headquartered in South San Francisco, California, the company applies its proprietary insights in muscle biology to address diseases characterized by impaired muscle performance. Its research spans both cardiac and skeletal muscle targets, aiming to deliver innovative medicines for conditions with significant unmet medical need.

The company's most advanced program, omecamtiv mecarbil, is being evaluated for the treatment of heart failure by enhancing cardiac muscle contractility.

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