Cytokinetics, Incorporated (NASDAQ:CYTK) Given Consensus Rating of "Moderate Buy" by Analysts

Shares of Cytokinetics, Incorporated (NASDAQ:CYTK - Get Free Report) have been assigned an average recommendation of "Moderate Buy" from the fifteen ratings firms that are currently covering the stock, Marketbeat Ratings reports. Two investment analysts have rated the stock with a hold recommendation and thirteen have assigned a buy recommendation to the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $79.33.

A number of equities research analysts recently issued reports on CYTK shares. UBS Group downgraded shares of Cytokinetics from a "buy" rating to a "neutral" rating and boosted their target price for the company from $61.00 to $92.00 in a report on Wednesday, January 24th. StockNews.com downgraded shares of Cytokinetics from a "hold" rating to a "sell" rating in a report on Friday, January 5th. Mizuho lowered their target price on shares of Cytokinetics from $103.00 to $99.00 and set a "buy" rating for the company in a report on Wednesday, March 6th. Morgan Stanley restated an "equal weight" rating and issued a $90.00 target price (up from $60.00) on shares of Cytokinetics in a report on Friday, January 5th. Finally, Truist Financial reiterated a "buy" rating and set a $86.00 price objective on shares of Cytokinetics in a research note on Monday, April 8th.

Cytokinetics Stock Up 0.8 %

Shares of NASDAQ:CYTK traded up $0.54 during trading on Friday, reaching $65.34. The stock had a trading volume of 738,059 shares, compared to its average volume of 1,009,851. The business has a fifty day moving average price of $69.91 and a 200-day moving average price of $59.99. The stock has a market cap of $6.83 billion, a P/E ratio of -11.99 and a beta of 0.68. Cytokinetics has a fifty-two week low of $25.98 and a fifty-two week high of $110.25.

Cytokinetics (NASDAQ:CYTK - Get Free Report) last posted its quarterly earnings data on Tuesday, February 27th. The biopharmaceutical company reported ($1.38) earnings per share for the quarter, missing analysts' consensus estimates of ($1.03) by ($0.35). The firm had revenue of $1.70 million for the quarter, compared to analyst estimates of $7.62 million. Cytokinetics's revenue was down 10.5% on a year-over-year basis. During the same period in the previous year, the company posted ($1.45) earnings per share. As a group, equities analysts forecast that Cytokinetics will post -4.5 EPS for the current year.

Insider Activity

In other news, Director John T. Henderson sold 10,562 shares of the company's stock in a transaction on Thursday, April 25th. The shares were sold at an average price of $64.54, for a total value of $681,671.48. Following the completion of the transaction, the director now directly owns 32,070 shares in the company, valued at $2,069,797.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director John T. Henderson sold 10,562 shares of the company's stock in a transaction on Thursday, April 25th. The shares were sold at an average price of $64.54, for a total value of $681,671.48. Following the sale, the director now directly owns 32,070 shares of the company's stock, valued at $2,069,797.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director John T. Henderson sold 5,000 shares of the company's stock in a transaction on Wednesday, February 14th. The shares were sold at an average price of $76.48, for a total transaction of $382,400.00. Following the completion of the sale, the director now directly owns 42,632 shares in the company, valued at $3,260,495.36. The disclosure for this sale can be found here. Over the last three months, insiders sold 125,876 shares of company stock worth $9,269,877. 3.40% of the stock is currently owned by company insiders.

Institutional Trading of Cytokinetics

Several institutional investors have recently added to or reduced their stakes in CYTK. SG Americas Securities LLC acquired a new stake in Cytokinetics in the third quarter valued at $718,000. Peregrine Capital Management LLC raised its holdings in shares of Cytokinetics by 13.2% during the third quarter. Peregrine Capital Management LLC now owns 204,664 shares of the biopharmaceutical company's stock worth $6,029,000 after purchasing an additional 23,936 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Cytokinetics by 11.5% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 17,580 shares of the biopharmaceutical company's stock worth $518,000 after purchasing an additional 1,815 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Cytokinetics by 0.7% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 51,684 shares of the biopharmaceutical company's stock worth $1,523,000 after purchasing an additional 359 shares during the period. Finally, Inspire Investing LLC raised its holdings in shares of Cytokinetics by 7.8% during the third quarter. Inspire Investing LLC now owns 10,364 shares of the biopharmaceutical company's stock worth $305,000 after purchasing an additional 753 shares during the period.

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.