Cytokinetics (NASDAQ:CYTK) Lowered to “Hold” at BidaskClub

BidaskClub cut shares of Cytokinetics (NASDAQ:CYTK) from a buy rating to a hold rating in a research note published on Friday morning, BidAskClub reports.

A number of other equities analysts have also recently issued reports on CYTK. Zacks Investment Research cut Cytokinetics from a buy rating to a hold rating in a report on Tuesday, February 26th. HC Wainwright reiterated a buy rating and issued a $21.00 target price on shares of Cytokinetics in a report on Tuesday, March 19th. ValuEngine upgraded Cytokinetics from a hold rating to a buy rating in a report on Wednesday, March 20th. Piper Jaffray Companies increased their target price on Cytokinetics from $12.00 to $13.00 and gave the stock an overweight rating in a report on Wednesday, March 20th. Finally, Cantor Fitzgerald reiterated a buy rating and issued a $14.00 target price on shares of Cytokinetics in a report on Friday, May 10th. Three investment analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the stock. The stock currently has a consensus rating of Buy and an average price target of $14.60.

Shares of CYTK stock opened at $11.20 on Friday. The company has a market cap of $646.48 million, a PE ratio of -5.74 and a beta of 1.72. Cytokinetics has a 52 week low of $5.75 and a 52 week high of $11.48. The company has a debt-to-equity ratio of 12.35, a current ratio of 7.09 and a quick ratio of 7.09.

Cytokinetics (NASDAQ:CYTK) last announced its quarterly earnings data on Thursday, May 9th. The biopharmaceutical company reported ($0.54) 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 for the quarter, compared to analyst estimates of $6.21 million. On average, sell-side analysts expect that Cytokinetics will post -1.85 earnings per share for the current fiscal year.

In related news, CEO Robert I. Blum sold 6,000 shares of the stock in a transaction on Monday, June 17th. The stock was sold at an average price of $9.71, for a total value of $58,260.00. Following the transaction, the chief executive officer now directly owns 262,022 shares in the company, valued at approximately $2,544,233.62. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Over the last quarter, insiders sold 10,500 shares of company stock worth $98,625. 5.70% of the stock is owned by company insiders.

A number of large investors have recently modified their holdings of the business. Texas Permanent School Fund lifted its stake in Cytokinetics by 3.8% during the 1st quarter. Texas Permanent School Fund now owns 37,148 shares of the biopharmaceutical company’s stock valued at $301,000 after acquiring an additional 1,346 shares in the last quarter. Squarepoint Ops LLC lifted its stake in 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 in the last quarter. Bank of Montreal Can lifted its stake in Cytokinetics by 109.5% during the 1st quarter. Bank of Montreal Can now owns 3,321 shares of the biopharmaceutical company’s stock valued at $27,000 after acquiring an additional 1,736 shares in the last quarter. Comerica Bank lifted its stake in Cytokinetics by 3.5% during the 1st quarter. Comerica Bank now owns 54,154 shares of the biopharmaceutical company’s stock valued at $472,000 after acquiring an additional 1,808 shares in the last quarter. Finally, Neuburgh Advisers LLC lifted its stake in 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 in the last quarter. 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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