Cytokinetics (NASDAQ:CYTK) Announces Quarterly Earnings Results

Cytokinetics (NASDAQ:CYTK - Get Free Report) announced its earnings results on Wednesday. The biopharmaceutical company reported ($1.33) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.16) by ($0.17), Briefing.com reports. The business had revenue of $0.84 million during the quarter, compared to analyst estimates of $0.91 million. During the same period in the previous year, the business earned ($1.38) EPS. Cytokinetics's revenue for the quarter was down 81.8% on a year-over-year basis.

Cytokinetics Price Performance

Cytokinetics stock traded down $1.25 during trading hours on Thursday, reaching $64.02. The stock had a trading volume of 2,404,735 shares, compared to its average volume of 2,738,094. The company has a market cap of $6.70 billion, a price-to-earnings ratio of -11.75 and a beta of 0.72. The business's 50 day moving average price is $67.65 and its 200-day moving average price is $61.68. Cytokinetics has a 52 week low of $25.98 and a 52 week high of $110.25.

Insider Buying and Selling at Cytokinetics

In other Cytokinetics news, Director John T. Henderson sold 5,000 shares of Cytokinetics stock in a transaction on Wednesday, February 14th. The shares were sold at an average price of $76.48, for a total value of $382,400.00. Following the transaction, the director now directly owns 42,632 shares of the company's stock, valued at $3,260,495.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Cytokinetics news, Director John T. Henderson sold 5,000 shares of the firm's stock in a transaction dated Wednesday, February 14th. The stock was sold at an average price of $76.48, for a total value of $382,400.00. Following the completion of the sale, the director now owns 42,632 shares of the company's stock, valued at $3,260,495.36. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Fady Ibraham Malik sold 32,604 shares of the stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $67.56, for a total transaction of $2,202,726.24. Following the completion of the transaction, the executive vice president now directly owns 138,973 shares of the company's stock, valued at $9,389,015.88. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 96,318 shares of company stock valued at $6,701,940. 3.40% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of research firms have weighed in on CYTK. Mizuho reduced their target price on Cytokinetics from $103.00 to $99.00 and set a "buy" rating on the stock in a research note on Wednesday, March 6th. JMP Securities reduced their price target on shares of Cytokinetics from $110.00 to $106.00 and set a "market outperform" rating on the stock in a research note on Thursday. Oppenheimer decreased their price objective on shares of Cytokinetics from $107.00 to $106.00 and set an "outperform" rating for the company in a report on Thursday. HC Wainwright restated a "buy" rating and issued a $94.00 target price on shares of Cytokinetics in a research note on Wednesday. Finally, Truist Financial reaffirmed a "buy" rating and set a $86.00 target price on shares of Cytokinetics in a research report on Monday, April 8th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $81.60.

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.