Cytokinetics (CYTK) Lifted to Strong-Buy at ValuEngine

ValuEngine upgraded shares of Cytokinetics (NASDAQ:CYTK) from a buy rating to a strong-buy rating in a report issued on Friday, May 10th, ValuEngine reports.

Several other analysts also recently issued reports on CYTK. Zacks Investment Research downgraded shares of Cytokinetics from a buy rating to a hold rating in a report on Friday, January 18th. HC Wainwright reissued a buy rating and issued a $21.00 price target on shares of Cytokinetics in a report on Tuesday, January 22nd. BidaskClub downgraded shares of Cytokinetics from a hold rating to a sell rating in a report on Wednesday, March 6th. Finally, Piper Jaffray Companies increased their price target on shares of Cytokinetics from $12.00 to $13.00 and gave the company an overweight rating in a report on Wednesday, March 20th. Two research analysts have rated the stock with a hold rating, three have assigned a buy rating and two have issued a strong buy rating to the stock. The stock presently has an average rating of Buy and a consensus price target of $14.60.

Shares of CYTK traded down $0.32 during mid-day trading on Friday, hitting $10.41. 308,887 shares of the company’s stock were exchanged, compared to its average volume of 556,846. Cytokinetics has a twelve month low of $5.75 and a twelve month high of $11.33. The firm has a market cap of $600.88 million, a price-to-earnings ratio of -5.34 and a beta of 2.05. 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 (NASDAQ:CYTK) last posted its quarterly earnings data on Thursday, May 9th. The biopharmaceutical company reported ($0.54) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.47) by ($0.07). The firm had revenue of $8.46 million for the quarter, compared to the consensus estimate of $6.21 million. Cytokinetics had a negative return on equity of 269.27% and a negative net margin of 303.70%. As a group, research analysts predict that Cytokinetics will post -1.82 earnings per share for the current fiscal year.

Large investors have recently added to or reduced their stakes in the company. FMR LLC increased its position in shares of Cytokinetics by 3.9% during the 1st quarter. FMR LLC now owns 1,926,824 shares of the biopharmaceutical company’s stock worth $15,589,000 after purchasing an additional 73,141 shares in the last quarter. Goldman Sachs Group Inc. increased its position in shares of Cytokinetics by 40.0% during the 1st quarter. Goldman Sachs Group Inc. now owns 236,829 shares of the biopharmaceutical company’s stock worth $1,916,000 after purchasing an additional 67,642 shares in the last quarter. Oxford Asset Management LLP increased its position in shares of Cytokinetics by 94.6% during the 1st quarter. Oxford Asset Management LLP now owns 196,118 shares of the biopharmaceutical company’s stock worth $1,587,000 after purchasing an additional 95,337 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Cytokinetics by 14.6% during the 1st quarter. Geode Capital Management LLC now owns 671,135 shares of the biopharmaceutical company’s stock worth $5,429,000 after purchasing an additional 85,592 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in shares of Cytokinetics by 2.3% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 291,219 shares of the biopharmaceutical company’s stock worth $2,356,000 after purchasing an additional 6,464 shares in the last quarter. 71.99% of the stock is owned by institutional investors.

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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