Mizuho Issues Pessimistic Forecast for Cytokinetics (NASDAQ:CYTK) Stock Price

Cytokinetics (NASDAQ:CYTK - Free Report) had its price target decreased by Mizuho from $103.00 to $84.00 in a research report sent to investors on Thursday,Benzinga reports. Mizuho currently has an outperform rating on the biopharmaceutical company's stock.

A number of other equities research analysts have also commented on the company. HC Wainwright reaffirmed a "buy" rating and set a $120.00 price target on shares of Cytokinetics in a research report on Monday, April 21st. Evercore ISI upgraded Cytokinetics to a "strong-buy" rating in a research note on Friday, February 7th. Bank of America dropped their price objective 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 lowered their price target on Cytokinetics from $47.00 to $41.00 and set a "neutral" rating for the company in a report on Friday, May 2nd. Finally, JMP Securities reiterated a "market outperform" rating and issued a $78.00 price target on shares of Cytokinetics in a research report on Thursday, April 10th. Three research analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $73.71.

Cytokinetics Price Performance

Shares of NASDAQ:CYTK traded down $0.44 during midday trading on Thursday, reaching $30.88. The company's stock had a trading volume of 1,251,619 shares, compared to its average volume of 1,598,445. Cytokinetics has a fifty-two week low of $29.31 and a fifty-two week high of $61.38. The company 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 debt-to-equity ratio of 5.93, a current ratio of 9.28 and a quick ratio of 9.28. The business's fifty day simple moving average is $36.19 and its 200-day simple moving average is $43.67.

Cytokinetics (NASDAQ:CYTK - Get Free Report) last posted its quarterly earnings results on Tuesday, May 6th. The biopharmaceutical company reported ($1.36) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.41) by $0.05. The firm had revenue of $1.60 million during the quarter, compared to the consensus estimate of $2.77 million. Cytokinetics's revenue was up 89.1% on a year-over-year basis. During the same quarter in the prior year, the business earned ($1.33) EPS. As a group, equities research analysts expect that Cytokinetics will post -5.24 EPS for the current fiscal year.

Insider Activity

In related news, Director Muna Bhanji sold 1,454 shares of the 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 completion of the sale, the director now owns 23,510 shares in the company, valued at approximately $698,952.30. This trade represents a 5.82% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Wendall Wierenga sold 20,000 shares of Cytokinetics 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 completion of the transaction, the director now owns 24,848 shares of the company's stock, valued at $955,654.08. This trade represents a 44.60% decrease in their position. The disclosure for this sale can be found here. Insiders sold 94,816 shares of company stock worth $3,850,385 over the last quarter. Corporate insiders own 2.70% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Fifth Third Bancorp lifted its stake in Cytokinetics by 42.2% in the 1st 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 last quarter. State of Michigan Retirement System grew its holdings in Cytokinetics by 1.1% in the first quarter. State of Michigan Retirement System now owns 28,200 shares of the biopharmaceutical company's stock worth $1,133,000 after purchasing an additional 300 shares during the period. Louisiana State Employees Retirement System lifted its stake in shares of Cytokinetics by 0.9% in the first quarter. Louisiana State Employees Retirement System now owns 33,100 shares of the biopharmaceutical company's stock valued at $1,330,000 after buying an additional 300 shares in the last quarter. State of Alaska Department of Revenue lifted its stake in shares of Cytokinetics by 2.7% in the first quarter. State of Alaska Department of Revenue now owns 13,820 shares of the biopharmaceutical company's stock valued at $555,000 after buying an additional 365 shares in the last quarter. Finally, Jones Financial Companies Lllp lifted its position in shares of Cytokinetics by 189.8% during the fourth quarter. Jones Financial Companies Lllp now owns 571 shares of the biopharmaceutical company's stock valued at $27,000 after purchasing an additional 374 shares in the last quarter.

Cytokinetics Company Profile

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.