Other equities analysts have also recently issued research reports about the stock. Piper Jaffray Companies upped their target price on shares of Cytokinetics from $12.00 to $13.00 and gave the company an overweight rating in a research note on Wednesday, March 20th. Zacks Investment Research upgraded shares of Cytokinetics from a hold rating to a buy rating and set a $7.75 price objective on the stock in a research note on Monday, January 21st. ValuEngine upgraded shares of Cytokinetics from a hold rating to a buy rating in a research note on Wednesday, March 20th. Finally, HC Wainwright reiterated a buy rating and issued a $21.00 price objective on shares of Cytokinetics in a research note on Tuesday, January 22nd. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. The company currently has an average rating of Buy and a consensus target price of $13.15.
CYTK opened at $8.08 on Thursday. The company has a current ratio of 9.36, a quick ratio of 9.36 and a debt-to-equity ratio of 1.53. The stock has a market cap of $447.41 million, a price-to-earnings ratio of -4.14 and a beta of 2.07. Cytokinetics has a 52-week low of $5.75 and a 52-week high of $10.44.
Several large investors have recently modified their holdings of CYTK. Bank of New York Mellon Corp lifted its stake 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 purchasing an additional 29,923 shares during the period. BlackRock Inc. increased its holdings in Cytokinetics by 9.5% in the 3rd quarter. BlackRock Inc. now owns 8,698,387 shares of the biopharmaceutical company’s stock worth $85,680,000 after acquiring an additional 754,593 shares in the last quarter. FMR LLC increased its holdings in Cytokinetics by 3.7% in the 3rd quarter. FMR LLC now owns 1,956,383 shares of the biopharmaceutical company’s stock worth $19,271,000 after acquiring an additional 70,631 shares in the last quarter. Virtu Financial LLC purchased a new stake in Cytokinetics in the 3rd quarter worth approximately $111,000. Finally, Dimensional Fund Advisors LP increased 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 worth $2,259,000 after acquiring an additional 160,622 shares in the last quarter. Hedge funds and other institutional investors own 71.79% of the company’s stock.
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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