Cytokinetics (NASDAQ:CYTK) Downgraded by BidaskClub to “Buy”

BidaskClub cut shares of Cytokinetics (NASDAQ:CYTK) from a strong-buy rating to a buy rating in a research note issued to investors on Wednesday, BidAskClub reports.

Several other analysts have also issued reports on CYTK. Zacks Investment Research lowered shares of Cytokinetics from a buy rating to a hold rating in a research report on Tuesday, February 26th. HC Wainwright restated a buy rating and set a $21.00 price target on shares of Cytokinetics in a research report on Tuesday, March 19th. ValuEngine upgraded shares of Cytokinetics from a hold rating to a buy rating in a research report on Wednesday, March 20th. Piper Jaffray Companies upped their price target 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. Finally, Cantor Fitzgerald restated a buy rating and set a $14.00 price target on shares of Cytokinetics in a research report on Friday, May 10th. Two analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. The company has an average rating of Buy and a consensus price target of $14.60.

Shares of NASDAQ:CYTK opened at $9.54 on Wednesday. Cytokinetics has a 52-week low of $5.75 and a 52-week high of $11.33. The firm has a market capitalization of $550.65 million, a P/E ratio of -4.89 and a beta of 1.72. The company has a quick ratio of 7.09, a current ratio of 7.09 and a debt-to-equity ratio of 12.35.

Cytokinetics (NASDAQ:CYTK) last announced its earnings results on Thursday, May 9th. The biopharmaceutical company reported ($0.54) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.47) by ($0.07). Cytokinetics had a negative return on equity of 269.27% and a negative net margin of 303.70%. The company had revenue of $8.46 million during the quarter, compared to analysts’ expectations of $6.21 million. Sell-side analysts predict that Cytokinetics will post -1.85 EPS for the current year.

Hedge funds and other institutional investors have recently bought and sold shares of the business. Magnus Financial Group LLC purchased a new stake in Cytokinetics during the fourth quarter valued at about $75,000. D. E. Shaw & Co. Inc. boosted its position in Cytokinetics by 48.8% during the fourth quarter. D. E. Shaw & Co. Inc. now owns 187,083 shares of the biopharmaceutical company’s stock valued at $1,183,000 after buying an additional 61,344 shares during the period. Municipal Employees Retirement System of Michigan bought a new position in shares of Cytokinetics during the fourth quarter valued at about $98,000. Great Point Partners LLC raised its stake in shares of Cytokinetics by 45.6% during the fourth quarter. Great Point Partners LLC now owns 3,173,288 shares of the biopharmaceutical company’s stock valued at $20,055,000 after acquiring an additional 993,600 shares during the last quarter. Finally, Everence Capital Management Inc. bought a new position in shares of Cytokinetics during the first quarter valued at about $133,000. Institutional investors and hedge funds own 69.29% 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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