Cytokinetics, Inc. (CYTK) Given Consensus Recommendation of “Buy” by Brokerages

Shares of Cytokinetics, Inc. (NASDAQ:CYTK) have earned a consensus recommendation of “Buy” from the seven analysts that are currently covering the stock, Marketbeat reports. Two research analysts have rated the stock with a hold rating, three have issued a buy rating and two have assigned a strong buy rating to the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $15.75.

A number of research firms have recently weighed in on CYTK. Zacks Investment Research raised shares of Cytokinetics from a “hold” rating to a “buy” rating and set a $10.00 price target on the stock in a research note on Wednesday, April 24th. BidaskClub raised shares of Cytokinetics from a “hold” rating to a “buy” rating in a research note on Tuesday, March 26th. Cantor Fitzgerald reaffirmed a “buy” rating and set a $14.00 price target on shares of Cytokinetics in a research note on Friday, May 10th. ValuEngine raised shares of Cytokinetics from a “buy” rating to a “strong-buy” rating in a research note on Friday, May 10th. Finally, HC Wainwright set a $21.00 price target on shares of Cytokinetics and gave the stock a “buy” rating in a research note on Tuesday, April 23rd.

Shares of NASDAQ:CYTK traded down $0.24 on Friday, reaching $10.49. 3,416 shares of the company were exchanged, compared to its average volume of 574,993. The company has a quick ratio of 7.09, a current ratio of 7.09 and a debt-to-equity ratio of 12.35. Cytokinetics has a 1-year low of $5.75 and a 1-year high of $11.33. The stock has a market cap of $606.64 million, a PE ratio of -5.37 and a beta of 2.05.

Cytokinetics (NASDAQ:CYTK) last posted its quarterly earnings results on Thursday, May 9th. The biopharmaceutical company reported ($0.54) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.47) by ($0.07). Cytokinetics had a negative return on equity of 269.27% and a negative net margin of 303.70%. The company had revenue of $8.46 million for the quarter, compared to analyst estimates of $6.21 million. Equities analysts anticipate that Cytokinetics will post -1.82 earnings per share for the current year.

Several institutional investors have recently added to or reduced their stakes in CYTK. Bank of New York Mellon Corp boosted its position in shares of Cytokinetics by 5.4% in the 3rd quarter. Bank of New York Mellon Corp now owns 581,465 shares of the biopharmaceutical company’s stock worth $5,727,000 after buying an additional 29,923 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in Cytokinetics by 233.6% in the 3rd quarter. Dimensional Fund Advisors LP now owns 229,377 shares of the biopharmaceutical company’s stock valued at $2,259,000 after purchasing an additional 160,622 shares in the last quarter. MetLife Investment Advisors LLC lifted its holdings in Cytokinetics by 57.9% in the 3rd quarter. MetLife Investment Advisors LLC now owns 29,553 shares of the biopharmaceutical company’s stock valued at $291,000 after purchasing an additional 10,837 shares in the last quarter. Teachers Advisors LLC lifted its holdings in Cytokinetics by 12.0% in the 3rd quarter. Teachers Advisors LLC now owns 94,046 shares of the biopharmaceutical company’s stock valued at $926,000 after purchasing an additional 10,081 shares in the last quarter. Finally, Legal & General Group Plc lifted its holdings in Cytokinetics by 16.2% in the 3rd quarter. Legal & General Group Plc now owns 114,983 shares of the biopharmaceutical company’s stock valued at $1,132,000 after purchasing an additional 16,053 shares in the last quarter. Institutional investors and hedge funds own 71.99% of the company’s stock.

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 in which muscle performance is compromised and/or declining. The company is developing small molecule drug candidates primarily engineered to increase muscle function and contractility.

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