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Weiss Ratings Reiterates "Sell (D-)" Rating for Cytokinetics (NASDAQ:CYTK)

Cytokinetics logo with Medical background

Key Points

  • Cytokinetics' stock received a reaffirmed "sell (D-)" rating from Weiss Ratings, indicating ongoing concerns about the company's performance.
  • Despite the negative rating from Weiss, other firms such as B. Riley and Barclays have issued "buy" ratings with increased price targets, reflecting a mixed outlook among analysts.
  • Recent insider sales reported by executives highlight decreased ownership stakes, with EVP Fady Ibraham Malik selling 2,000 shares and CEO Robert I. Blum selling 5,000 shares, potentially signaling concerns about the company's future.
  • Five stocks we like better than Cytokinetics.

Cytokinetics (NASDAQ:CYTK - Get Free Report)'s stock had its "sell (d-)" rating reaffirmed by stock analysts at Weiss Ratings in a report released on Wednesday,Weiss Ratings reports.

A number of other research firms have also recently commented on CYTK. B. Riley increased their price target on shares of Cytokinetics from $74.00 to $80.00 and gave the company a "buy" rating in a report on Monday, September 22nd. JMP Securities reiterated a "market outperform" rating and set a $78.00 price target on shares of Cytokinetics in a report on Tuesday, September 2nd. Wall Street Zen upgraded shares of Cytokinetics from a "strong sell" rating to a "hold" rating in a report on Sunday, August 10th. Barclays raised their target price on shares of Cytokinetics from $71.00 to $82.00 and gave the stock an "overweight" rating in a report on Monday. Finally, Stifel Nicolaus raised their target price on shares of Cytokinetics from $87.00 to $96.00 and gave the stock a "buy" rating in a report on Tuesday, September 2nd. One analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $76.64.

Get Our Latest Stock Report on Cytokinetics

Cytokinetics Trading Up 1.1%

CYTK traded up $0.65 during midday trading on Wednesday, reaching $60.82. The company's stock had a trading volume of 1,663,623 shares, compared to its average volume of 2,538,925. The firm has a market capitalization of $7.28 billion, a price-to-earnings ratio of -11.93 and a beta of 0.67. Cytokinetics has a 1 year low of $29.31 and a 1 year high of $61.48. The stock's 50-day moving average is $45.10 and its 200-day moving average is $38.95.

Cytokinetics (NASDAQ:CYTK - Get Free Report) last announced its quarterly earnings data on Thursday, August 7th. The biopharmaceutical company reported ($1.12) earnings per share for the quarter, topping analysts' consensus estimates of ($1.34) by $0.22. The business had revenue of $66.77 million during the quarter, compared to analysts' expectations of $1.95 million. Cytokinetics's revenue for the quarter was up 26727.3% compared to the same quarter last year. During the same quarter last year, the company posted ($1.31) EPS. As a group, equities research analysts forecast that Cytokinetics will post -5.24 earnings per share for the current fiscal year.

Insider Activity

In other news, EVP Fady Ibraham Malik sold 2,000 shares of the firm's stock in a transaction on Tuesday, October 7th. The shares were sold at an average price of $60.56, for a total transaction of $121,120.00. Following the sale, the executive vice president directly owned 140,610 shares in the company, valued at $8,515,341.60. This trade represents a 1.40% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Robert I. Blum sold 5,000 shares of the firm's stock in a transaction on Wednesday, October 1st. The shares were sold at an average price of $55.05, for a total transaction of $275,250.00. Following the sale, the chief executive officer owned 368,108 shares in the company, valued at $20,264,345.40. The trade was a 1.34% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 52,208 shares of company stock worth $2,555,581 in the last three months. Company insiders own 2.70% of the company's stock.

Hedge Funds Weigh In On Cytokinetics

Large investors have recently made changes to their positions in the company. Geode Capital Management LLC lifted its holdings in Cytokinetics by 1.9% during the 2nd quarter. Geode Capital Management LLC now owns 2,994,445 shares of the biopharmaceutical company's stock valued at $98,948,000 after buying an additional 56,961 shares in the last quarter. Vestal Point Capital LP lifted its holdings in Cytokinetics by 14.8% during the 2nd quarter. Vestal Point Capital LP now owns 2,975,000 shares of the biopharmaceutical company's stock valued at $98,294,000 after buying an additional 384,469 shares in the last quarter. Westfield Capital Management Co. LP lifted its holdings in Cytokinetics by 2.4% during the 1st quarter. Westfield Capital Management Co. LP now owns 1,310,336 shares of the biopharmaceutical company's stock valued at $52,662,000 after buying an additional 30,346 shares in the last quarter. Norges Bank bought a new stake in Cytokinetics during the 2nd quarter valued at about $39,122,000. Finally, Brown Advisory Inc. lifted its holdings in Cytokinetics by 0.9% during the 1st quarter. Brown Advisory Inc. now owns 1,086,300 shares of the biopharmaceutical company's stock valued at $43,658,000 after buying an additional 9,869 shares in the last quarter.

About Cytokinetics

(Get Free Report)

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.

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Analyst Recommendations for Cytokinetics (NASDAQ:CYTK)

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