Cytokinetics (NASDAQ:CYTK) was upgraded by equities research analysts at BidaskClub from a “sell” rating to a “hold” rating in a report issued on Saturday.

Other research analysts also recently issued research reports about the stock. HC Wainwright set a $20.00 price target on shares of Cytokinetics and gave the stock a “buy” rating in a research report on Friday. Cowen reissued a “buy” rating and set a $11.00 price objective on shares of Cytokinetics in a report on Tuesday, February 20th. Cantor Fitzgerald set a $10.00 price objective on Cytokinetics and gave the stock a “hold” rating in a report on Monday, February 12th. ValuEngine raised Cytokinetics from a “sell” rating to a “hold” rating in a report on Friday. Finally, Morgan Stanley boosted their price objective on Cytokinetics from $17.00 to $18.00 and gave the stock an “overweight” rating in a report on Wednesday, February 21st. Four equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $15.67.

Shares of NASDAQ CYTK opened at $8.65 on Friday. The stock has a market cap of $391.56, a P/E ratio of -3.34 and a beta of 1.16. The company has a debt-to-equity ratio of 0.29, a quick ratio of 8.46 and a current ratio of 8.46. Cytokinetics has a 12-month low of $6.75 and a 12-month high of $16.70.

Cytokinetics (NASDAQ:CYTK) last issued its quarterly earnings results on Thursday, April 26th. The biopharmaceutical company reported ($0.56) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.50) by ($0.06). Cytokinetics had a negative return on equity of 96.95% and a negative net margin of 172.27%. sell-side analysts forecast that Cytokinetics will post -1.95 earnings per share for the current fiscal year.

In other Cytokinetics news, CEO Robert I. Blum sold 4,000 shares of the business’s stock in a transaction dated Thursday, April 5th. The stock was sold at an average price of $7.52, for a total transaction of $30,080.00. Following the completion of the sale, the chief executive officer now directly owns 182,701 shares of the company’s stock, valued at approximately $1,373,911.52. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 5.10% of the company’s stock.

Large investors have recently made changes to their positions in the business. Ameriprise Financial Inc. increased its stake in shares of Cytokinetics by 48.9% in the 3rd quarter. Ameriprise Financial Inc. now owns 358,713 shares of the biopharmaceutical company’s stock valued at $5,201,000 after acquiring an additional 117,882 shares during the last quarter. Legal & General Group Plc increased its stake in shares of Cytokinetics by 6.7% in the 3rd quarter. Legal & General Group Plc now owns 88,742 shares of the biopharmaceutical company’s stock valued at $1,287,000 after acquiring an additional 5,542 shares during the last quarter. Wells Fargo & Company MN increased its stake in shares of Cytokinetics by 48.7% in the 3rd quarter. Wells Fargo & Company MN now owns 50,523 shares of the biopharmaceutical company’s stock valued at $733,000 after acquiring an additional 16,555 shares during the last quarter. Schwab Charles Investment Management Inc. increased its stake in shares of Cytokinetics by 8.3% in the 3rd quarter. Schwab Charles Investment Management Inc. now owns 303,347 shares of the biopharmaceutical company’s stock valued at $4,399,000 after acquiring an additional 23,142 shares during the last quarter. Finally, GSA Capital Partners LLP bought a new stake in shares of Cytokinetics in the 3rd quarter valued at about $187,000. 71.24% of the stock is owned by hedge funds and other institutional investors.

Cytokinetics Company Profile

Cytokinetics, Inc operates as a biopharmaceutical company, which focuses on the discovery and development of muscle activators as potential treatment for debilitating diseases. It conducts a Phase 2 clinical trials program for tirasemtiv, including a Phase 2b clinical trial in patients with ALS, known as BENEFIT-ALS (Blinded Evaluation of Neuromuscular Effects and Functional Improvement with Tirasemtiv in ALS).

Analyst Recommendations for Cytokinetics (NASDAQ:CYTK)

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