Cytokinetics (CYTK) Upgraded at ValuEngine

Cytokinetics (NASDAQ:CYTK) was upgraded by investment analysts at ValuEngine from a “buy” rating to a “strong-buy” rating in a research note issued to investors on Friday, ValuEngine reports.

CYTK has been the subject of several other research reports. HC Wainwright reiterated a “buy” rating and set a $21.00 price objective on shares of Cytokinetics in a research report on Tuesday, March 19th. BidaskClub lowered shares of Cytokinetics from a “hold” rating to a “sell” rating in a research report on Wednesday, March 6th. Zacks Investment Research lowered shares of Cytokinetics from a “buy” rating to a “hold” rating in a research report on Tuesday, February 26th. Cantor Fitzgerald reiterated a “buy” rating and set a $14.00 price objective on shares of Cytokinetics in a research report on Friday. Finally, Piper Jaffray Companies increased their price objective on shares of Cytokinetics from $12.00 to $13.00 and gave the company an “overweight” rating in a research report on Wednesday, March 20th. One research analyst has rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $14.60.

CYTK stock opened at $10.07 on Friday. Cytokinetics has a 52 week low of $5.75 and a 52 week high of $10.44. The company has a debt-to-equity ratio of 1.53, a current ratio of 9.36 and a quick ratio of 9.36. The firm has a market cap of $498.91 million, a price-to-earnings ratio of -5.16 and a beta of 2.05.

Cytokinetics (NASDAQ:CYTK) last released its quarterly earnings data on Thursday, May 9th. The biopharmaceutical company reported ($0.54) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.47) by ($0.07). Cytokinetics had a negative net margin of 303.70% and a negative return on equity of 206.40%. The business had revenue of $8.46 million for the quarter, compared to the consensus estimate of $6.21 million. Research analysts anticipate that Cytokinetics will post -1.75 EPS for the current fiscal year.

Institutional investors have recently added to or reduced their stakes in the company. Magnus Financial Group LLC bought a new stake in shares of Cytokinetics in the 4th quarter worth about $75,000. State of Alaska Department of Revenue lifted its holdings in shares of Cytokinetics by 9.4% in the 4th quarter. State of Alaska Department of Revenue now owns 18,233 shares of the biopharmaceutical company’s stock worth $115,000 after acquiring an additional 1,564 shares during the last quarter. D. E. Shaw & Co. Inc. lifted its holdings in shares of Cytokinetics by 48.8% in the 4th quarter. D. E. Shaw & Co. Inc. now owns 187,083 shares of the biopharmaceutical company’s stock worth $1,183,000 after acquiring an additional 61,344 shares during the last quarter. Legal & General Group Plc lifted its holdings in shares of Cytokinetics by 16.2% in the 3rd quarter. Legal & General Group Plc now owns 114,983 shares of the biopharmaceutical company’s stock worth $1,132,000 after acquiring an additional 16,053 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of 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 during the last quarter. Hedge funds and other institutional investors own 71.91% 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.

See Also: Initial Public Offering (IPO)

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