Zacks Investment Research upgraded shares of Cytokinetics (NASDAQ:CYTK) from a sell rating to a hold rating in a research report released on Thursday morning, Zacks.com reports.

According to Zacks, “Cytokinetics is a late-stage biopharmaceutical company focused on discovering, developing and commercializing first-in-class muscle activators as potential treatments for debilitating diseases in which muscle performance is compromised and/or deteriorating. With an unmatched understanding of muscle biology and mechanics of muscle performance, the company is developing small molecule drug candidates engineered to increase muscle function and contractility. Cytokinetics’ lead drug candidate is tirasemtiv, a fast skeletal muscle activator, for the potential treatment of ALS. Tirasemtiv has been granted orphan drug designation and fast track status by the FDA and orphan medicinal product designation by the EMA. Cytokinetics is collaborating with Amgen Inc. to develop omecamtiv mecarbil, a novel cardiac muscle activator, for the potential treatment of heart failure, and with Astellas Pharma Inc. to develop CK-2127107, a fast skeletal muscle activator, for the potential treatment of spinal muscular atrophy. “

Several other equities analysts also recently weighed in on the company. Needham & Company LLC set a $16.00 target price on Cytokinetics and gave the company a buy rating in a research report on Friday, August 9th. Piper Jaffray Companies set a $14.00 target price on Cytokinetics and gave the company a buy rating in a research report on Monday, July 15th. BidaskClub downgraded Cytokinetics from a strong-buy rating to a buy rating in a research report on Friday, August 16th. Morgan Stanley set a $16.00 target price on Cytokinetics and gave the company a hold rating in a research report on Friday, August 9th. Finally, Cantor Fitzgerald reissued an overweight rating and set a $20.00 target price (up previously from $14.00) on shares of Cytokinetics in a research report on Friday, September 6th. Two research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. Cytokinetics currently has an average rating of Buy and a consensus price target of $17.86.

Shares of CYTK traded down $0.09 during mid-day trading on Thursday, hitting $12.51. 10,022 shares of the stock were exchanged, compared to its average volume of 357,187. The company has a market cap of $741.11 million, a PE ratio of -6.41 and a beta of 1.64. The company has a debt-to-equity ratio of 12.35, a quick ratio of 8.42 and a current ratio of 8.42. The firm has a 50-day moving average of $13.18 and a two-hundred day moving average of $10.33. Cytokinetics has a 52-week low of $5.75 and a 52-week high of $14.94.

Cytokinetics (NASDAQ:CYTK) last released its earnings results on Thursday, August 8th. The biopharmaceutical company reported ($0.56) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.50) by ($0.06). The company had revenue of $7.14 million for the quarter, compared to the consensus estimate of $6.81 million. Cytokinetics had a negative net margin of 308.73% and a negative return on equity of 575.21%. On average, sell-side analysts predict that Cytokinetics will post -2 EPS for the current year.

In other news, CEO Robert I. Blum sold 6,000 shares of the business’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $12.64, for a total transaction of $75,840.00. Following the transaction, the chief executive officer now owns 250,022 shares of the company’s stock, valued at approximately $3,160,278.08. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In the last three months, insiders have sold 22,500 shares of company stock worth $257,445. Corporate insiders own 5.70% of the company’s stock.

Institutional investors have recently made changes to their positions in the business. Bank of Montreal Can grew its position in Cytokinetics by 109.5% in the 1st quarter. Bank of Montreal Can now owns 3,321 shares of the biopharmaceutical company’s stock valued at $27,000 after acquiring an additional 1,736 shares during the last quarter. BNP Paribas Arbitrage SA lifted its holdings in shares of Cytokinetics by 59,718.8% in the 1st quarter. BNP Paribas Arbitrage SA now owns 9,571 shares of the biopharmaceutical company’s stock worth $77,000 after buying an additional 9,555 shares during the period. Meeder Asset Management Inc. lifted its holdings in shares of Cytokinetics by 404.0% in the 2nd quarter. Meeder Asset Management Inc. now owns 9,994 shares of the biopharmaceutical company’s stock worth $112,000 after buying an additional 8,011 shares during the period. Aperio Group LLC purchased a new stake in shares of Cytokinetics in the 2nd quarter worth $183,000. Finally, Everence Capital Management Inc. purchased a new stake in shares of Cytokinetics in the 1st quarter worth $133,000. 74.55% of the stock is currently owned by institutional investors.

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 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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