Cytokinetics (CYTK) Rating Lowered to Hold at BidaskClub

BidaskClub lowered shares of Cytokinetics (NASDAQ:CYTK) from a buy rating to a hold rating in a research report sent to investors on Thursday morning, BidAskClub reports.

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.

Cytokinetics (NASDAQ:CYTK) last posted its earnings results on Thursday, February 21st. The biopharmaceutical company reported ($0.48) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.51) by $0.03. The business had revenue of $9.38 million for the quarter, compared to analysts’ expectations of $3.46 million. Cytokinetics had a negative net margin of 337.42% and a negative return on equity of 168.21%. As a group, analysts expect that Cytokinetics will post -1.75 EPS for the current year.

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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