Cytokinetics, Incorporated (CYTK) Rating Increased to Strong-Buy at Needham & Company LLC

Cytokinetics, Incorporated (CYTK) Rating Increased to Strong-Buy at Needham & Company LLC

Cytokinetics, Incorporated (NASDAQ:CYTK) was upgraded by stock analysts at Needham & Company LLC from a “buy” rating to a “strong-buy” rating in a report issued on Monday. The brokerage currently has a $22.00 target price on the biopharmaceutical company’s stock, up from their previous target price of $17.00. Needham & Company LLC’s target price suggests a potential upside of 88.03% from the company’s current price.

A number of other equities research analysts have also recently issued reports on the stock. FBR & Co set a $24.00 target price on shares of Cytokinetics, and gave the company a “buy” rating in a report on Saturday. Zacks Investment Research cut shares of Cytokinetics, from a “strong-buy” rating to a “hold” rating in a report on Monday, January 2nd. Cantor Fitzgerald began coverage on shares of Cytokinetics, in a report on Friday, December 16th. They issued an “overweight” rating and a $21.00 target price on the stock. Piper Jaffray Companies reaffirmed an “overweight” rating and issued a $15.00 target price on shares of Cytokinetics, in a report on Tuesday, December 13th. Finally, JMP Securities reaffirmed a “buy” rating on shares of Cytokinetics, in a report on Thursday, December 1st. One analyst has rated the stock with a hold rating, seven have given a buy rating and two have issued a strong buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $18.22.

Shares of Cytokinetics, (NASDAQ:CYTK) traded down 1.923% on Monday, reaching $11.475. 54,566 shares of the company’s stock were exchanged. The company has a market cap of $464.92 million, a price-to-earnings ratio of 11475.000 and a beta of 1.79. Cytokinetics, has a 12 month low of $6.00 and a 12 month high of $13.45. The firm’s 50-day moving average price is $11.58 and its 200 day moving average price is $10.75.

In other Cytokinetics, news, EVP Fady Ibraham Malik sold 5,633 shares of the stock in a transaction that occurred on Thursday, December 29th. The shares were sold at an average price of $12.36, for a total transaction of $69,623.88. Following the transaction, the executive vice president now owns 3,361 shares in the company, valued at approximately $41,541.96. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 5.10% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Compagnie Lombard Odier SCmA acquired a new position in shares of Cytokinetics, during the third quarter worth about $184,000. Zacks Investment Management acquired a new position in shares of Cytokinetics, during the third quarter worth about $237,000. BlackRock Advisors LLC raised its position in shares of Cytokinetics, by 0.9% in the third quarter. BlackRock Advisors LLC now owns 122,815 shares of the biopharmaceutical company’s stock worth $1,127,000 after buying an additional 1,115 shares during the last quarter. Wells Fargo & Company MN raised its position in shares of Cytokinetics, by 5.1% in the third quarter. Wells Fargo & Company MN now owns 15,627 shares of the biopharmaceutical company’s stock worth $144,000 after buying an additional 760 shares during the last quarter. Finally, Public Employees Retirement System of Ohio raised its position in shares of Cytokinetics, by 173.0% in the second quarter. Public Employees Retirement System of Ohio now owns 51,066 shares of the biopharmaceutical company’s stock worth $485,000 after buying an additional 32,360 shares during the last quarter. Hedge funds and other institutional investors own 66.03% of the company’s stock.

Cytokinetics, Company Profile

Cytokinetics, Incorporated is a late-stage biopharmaceutical company. The Company is focused on discovering, developing and commercializing first-in-class muscle activators as potential treatments for debilitating diseases in which muscle performance is compromised and/or declining. It is focused on the discovery and development of small molecule therapeutics that modulate muscle function for the treatment of serious diseases and medical conditions.

Related posts

Leave a Comment