Cantor Fitzgerald Predicts Lower Earnings for Cytokinetics

Key Points

• Cantor Fitzgerald has lowered its FY2025 earnings estimate for Cytokinetics to ($5.42) per share, down from a previous estimate of ($5.21) per share, while maintaining a "Strong-Buy" rating on the stock.
• Several brokerages have also adjusted their price targets for Cytokinetics, with Mizuho decreasing their target from $103.00 to $84.00 and Citigroup from $80.00 to $77.00.
• Cytokinetics reported a quarterly earnings result of ($1.12) EPS, exceeding the consensus estimate of ($1.34) by $0.22, alongside a significant increase in revenue year-over-year.

Cytokinetics, Incorporated (NASDAQ:CYTK - Free Report) - Equities researchers at Cantor Fitzgerald reduced their FY2025 earnings per share estimates for Cytokinetics in a note issued to investors on Wednesday, August 13th. Cantor Fitzgerald analyst C. Gould now anticipates that the biopharmaceutical company will earn ($5.42) per share for the year, down from their previous forecast of ($5.21). Cantor Fitzgerald currently has a "Strong-Buy" rating on the stock. The consensus estimate for Cytokinetics' current full-year earnings is ($5.24) per share. Cantor Fitzgerald also issued estimates for Cytokinetics' FY2026 earnings at ($6.40) EPS.

Cytokinetics (NASDAQ:CYTK - Get Free Report) last posted its quarterly earnings data on Thursday, August 7th. The biopharmaceutical company reported ($1.12) earnings per share for the quarter, beating analysts' consensus estimates of ($1.34) by $0.22. The firm had revenue of $66.77 million during the quarter, compared to analyst estimates of $1.95 million. The business's quarterly revenue was up 26727.3% on a year-over-year basis. During the same period in the prior year, the firm earned ($1.31) EPS.

A number of other brokerages have also issued reports on CYTK. HC Wainwright reissued a "buy" rating and issued a $120.00 price target on shares of Cytokinetics in a research note on Monday, April 21st. Raymond James Financial began coverage on shares of Cytokinetics in a research report on Wednesday, July 30th. They set a "market perform" rating for the company. UBS Group cut their price target on shares of Cytokinetics from $47.00 to $41.00 and set a "neutral" rating on the stock in a research note on Friday, May 2nd. Citigroup lowered their price objective on shares of Cytokinetics from $80.00 to $77.00 and set a "buy" rating for the company in a research note on Friday, August 8th. Finally, Mizuho dropped their price objective on Cytokinetics from $103.00 to $84.00 and set an "outperform" rating for the company in a report on Thursday, May 29th. Four equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $71.58.

Cytokinetics Price Performance

CYTK stock traded up $0.28 during midday trading on Friday, hitting $38.95. The stock had a trading volume of 1,563,582 shares, compared to its average volume of 1,388,655. Cytokinetics has a 12-month low of $29.31 and a 12-month high of $59.39. The company's 50-day moving average price is $35.44 and its 200 day moving average price is $38.10. The firm has a market cap of $4.66 billion, a PE ratio of -7.64 and a beta of 0.64.

Institutional Trading of Cytokinetics

Large investors have recently bought and sold shares of the company. Hudson Bay Capital Management LP lifted its position in shares of Cytokinetics by 7.1% during the second quarter. Hudson Bay Capital Management LP now owns 157,786 shares of the biopharmaceutical company's stock worth $5,213,000 after purchasing an additional 10,523 shares in the last quarter. CANADA LIFE ASSURANCE Co increased its stake in Cytokinetics by 13.8% during the 2nd quarter. CANADA LIFE ASSURANCE Co now owns 78,544 shares of the biopharmaceutical company's stock worth $2,596,000 after buying an additional 9,512 shares during the period. Tower Research Capital LLC TRC lifted its holdings in Cytokinetics by 29.9% in the 2nd quarter. Tower Research Capital LLC TRC now owns 11,086 shares of the biopharmaceutical company's stock worth $366,000 after buying an additional 2,551 shares in the last quarter. Exome Asset Management LLC boosted its position in Cytokinetics by 43.9% in the 2nd quarter. Exome Asset Management LLC now owns 115,817 shares of the biopharmaceutical company's stock valued at $3,827,000 after buying an additional 35,334 shares during the last quarter. Finally, E Fund Management Co. Ltd. boosted its position in Cytokinetics by 37.3% in the 2nd quarter. E Fund Management Co. Ltd. now owns 18,919 shares of the biopharmaceutical company's stock valued at $625,000 after buying an additional 5,136 shares during the last quarter.

Insider Buying and Selling

In other news, CEO Robert I. Blum sold 5,000 shares of the stock in a transaction dated Tuesday, July 29th. The stock was sold at an average price of $36.45, for a total value of $182,250.00. Following the completion of the sale, the chief executive officer owned 388,108 shares in the company, valued at approximately $14,146,536.60. This trade represents a 1.27% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Fady Ibraham Malik sold 2,000 shares of the firm's stock in a transaction dated Tuesday, August 5th. The shares were sold at an average price of $36.34, for a total value of $72,680.00. Following the sale, the executive vice president owned 140,610 shares in the company, valued at approximately $5,109,767.40. The trade was a 1.40% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 38,295 shares of company stock valued at $1,307,390 in the last 90 days. 3.40% of the stock is currently owned by company insiders.

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.