Cytokinetics, Inc. (CYTK) Expected to Announce Earnings of -$0.47 Per Share

Equities research analysts expect Cytokinetics, Inc. (NASDAQ:CYTK) to announce earnings of ($0.47) per share for the current quarter, according to Zacks. Two analysts have issued estimates for Cytokinetics’ earnings, with the lowest EPS estimate coming in at ($0.50) and the highest estimate coming in at ($0.44). Cytokinetics posted earnings per share of ($0.56) in the same quarter last year, which suggests a positive year over year growth rate of 16.1%. The company is scheduled to report its next earnings report on Thursday, April 25th.

According to Zacks, analysts expect that Cytokinetics will report full year earnings of ($1.75) per share for the current year, with EPS estimates ranging from ($1.93) to ($1.52). For the next financial year, analysts expect that the company will report earnings of ($1.70) per share, with EPS estimates ranging from ($2.08) to ($1.37). Zacks’ earnings per share calculations are a mean average based on a survey of sell-side analysts that follow Cytokinetics.

Cytokinetics (NASDAQ:CYTK) last released its quarterly earnings results on Thursday, February 21st. The biopharmaceutical company reported ($0.48) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.51) by $0.03. Cytokinetics had a negative net margin of 337.42% and a negative return on equity of 168.21%. The firm had revenue of $9.38 million for the quarter, compared to analysts’ expectations of $3.46 million.

CYTK has been the topic of a number of research analyst reports. Zacks Investment Research cut shares of Cytokinetics from a “strong-buy” rating to a “hold” rating in a research note on Thursday, January 3rd. ValuEngine cut shares of Cytokinetics from a “buy” rating to a “hold” rating in a research note on Tuesday, January 15th. HC Wainwright reaffirmed a “buy” rating and set a $21.00 target price on shares of Cytokinetics in a research note on Tuesday, January 22nd. BidaskClub cut shares of Cytokinetics from a “hold” rating to a “sell” rating in a research note on Wednesday, March 6th. Finally, Piper Jaffray Companies lifted their target price on shares of Cytokinetics from $12.00 to $13.00 and gave the stock an “overweight” rating in a research note on Wednesday, March 20th. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Cytokinetics presently has a consensus rating of “Buy” and an average price target of $13.15.

Cytokinetics stock traded up $0.13 during trading on Tuesday, reaching $8.08. The company had a trading volume of 458,300 shares, compared to its average volume of 471,167. Cytokinetics has a 1-year low of $5.75 and a 1-year high of $10.44. The stock has a market capitalization of $447.41 million, a P/E ratio of -4.14 and a beta of 2.07. The company has a debt-to-equity ratio of 1.53, a quick ratio of 9.36 and a current ratio of 9.36.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Texas Permanent School Fund boosted its stake in Cytokinetics by 4.2% during the 4th quarter. Texas Permanent School Fund now owns 35,802 shares of the biopharmaceutical company’s stock worth $226,000 after purchasing an additional 1,430 shares during the last quarter. Squarepoint Ops LLC boosted its position in shares of Cytokinetics by 14.2% during the 4th quarter. Squarepoint Ops LLC now owns 11,600 shares of the biopharmaceutical company’s stock valued at $73,000 after acquiring an additional 1,438 shares during the last quarter. State of Alaska Department of Revenue boosted its position in shares of Cytokinetics by 9.4% during the 4th quarter. State of Alaska Department of Revenue now owns 18,233 shares of the biopharmaceutical company’s stock valued at $115,000 after acquiring an additional 1,564 shares during the last quarter. New York State Teachers Retirement System boosted its position in shares of Cytokinetics by 2.1% during the 4th quarter. New York State Teachers Retirement System now owns 84,617 shares of the biopharmaceutical company’s stock valued at $535,000 after acquiring an additional 1,725 shares during the last quarter. Finally, Neuburgh Advisers LLC boosted its position in shares of Cytokinetics by 55.6% during the 4th quarter. Neuburgh Advisers LLC now owns 6,776 shares of the biopharmaceutical company’s stock valued at $43,000 after acquiring an additional 2,420 shares during the last quarter. 71.79% 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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Earnings History and Estimates for Cytokinetics (NASDAQ:CYTK)

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