Analyst Target Price and Stock Review Cytokinetics (CYTK)

Andrew Cummings
November 22, 2017

ValuEngine cut shares of Cytokinetics, Incorporated (NASDAQ:CYTK) from a hold rating to a sell rating in a research report released on Tuesday morning. The shares were sold on November 1st for an average price of $13.38. Blum now owns $887,337 of stock per an SEC filing yesterday. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The company trades on average around 48569000 shares per market session. Also, CEO Robert I. Blum sold 5,000 shares of Cytokinetics, stock in a transaction that occurred on Friday, September 1st. Also, Director Santo J. Costa sold 5,000 shares of the company's stock in a transaction that occurred on Tuesday, August 29th. The stock was sold at an average price of $14.00, for a total value of $70,000.00.

Cytokinetics, Incorporated (CYTK) shares are down -26.67% for the week and that has got investors and traders sitting up and taking note. The stock was sold at an average price of $12.47, for a total transaction of $141,509.56.

Shares of Cytokinetics (NASDAQ:CYTK) now have an Average Brokerage Recommendation of 1.07, number of Recs in ABR is 7 while industry rank of the company by ABR is out of 265. Total debt to equity ratio of the company for most recent quarter is 0.21 whereas long term debt to equity ratio for most recent quarter is 0.14.

From another technical standpoint, Cytokinetics, Incorporated (NASDAQ:CYTK)'s 14-day Relative Strength Index (RSI) has reached 22.76, putting it inside a neutral zone. The biopharmaceutical company reported ($0.60) earnings per share for the quarter, beating the Zacks' consensus estimate of ($0.64) by $0.04. Return on Equity (ROE) stands at -62.6% and Return on Investment (ROI) of 15 percent.

How Active Are Cytokinetics, Incorporated (NASDAQ:CYTK) Shares?

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Large investors have recently made changes to their positions in the business. Morgan Stanley reaffirmed an "overweight" rating and issued a $25.00 price objective (up from $24.00) on shares of Cytokinetics, in a research report on Friday, October 6th. Cowen and Company reissued a "buy" rating and set a $19.00 price objective on shares of Cytokinetics, in a research report on Friday, August 4th. October 27 investment analysts at HC Wainwright kept the stock rating at "Buy" with a current price target of $26.00. The stock has an average rating of Buy and a consensus price target of $18.36.

Hedge funds have recently added to or reduced their stakes in the company. State of Alaska Department of Revenue purchased a new stake in shares of Cytokinetics, during the 2nd quarter valued at $109,000. Janus Henderson Group PLC now owns 2,778,605 shares of the biopharmaceutical company's stock valued at $40,290,000 after purchasing an additional 93,675 shares in the last quarter. Birchview Capital LP bought a new stake in shares of Cytokinetics, in the 3rd quarter valued at approximately $145,000. Piedmont Investment Advisors LLC purchased a new position in Cytokinetics, in the third quarter worth $159,000. Finally, BNP Paribas Arbitrage SA grew its stake in shares of Cytokinetics, by 4,464.4% in the 2nd quarter.

However looking at valuation ratios the stock has 5 year expected PEG ratio of 0 whereas its trailing twelve month P/E ratio is 0. The third largest holder is Vanguard Group Inc, which now holds $39.98 million worth of this stock and that ownership represents almost 9.52% of its market capitalization. Including today's unusual volume, Cytokinetics, Incorporated's stock is performing at -32.10% on the year. Cytokinetics is collaborating with Amgen develop omecamtiv mecarbil, a novel cardiac muscle activator, for the potential treatment of heart failure, and with Astellas Pharma develop CK-2127107, a fast skeletal muscle activator, for the potential treatment of spinal muscular atrophy. As such, the CYTK team is putting a halt to development of its asset tirasemtiv, a fast skeletal muscle troponin activator created to help ALS patients better the very muscle function that they lose in the condition.

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