In a research report published today, Roth Capital analyst Joseph Pantginis reiterated a Buy rating on shares of Cytokinetics Inc. (NASDAQ:CYTK), with a price target of $22, following the company’s first-quarter results and update on its pipeline. The company ended the quarter with $108.6 million in cash, which the company believes provides runway for ~16-18 months.

Based on the data with omecamtiv mecarbil in the COSMIC-HF Phase II study, Pantginis looks for announcement from Amgen and Cytokinetics to move to Phase III. The analyst wrote, “AMGN/CYTK believe that the program is now aligned with regulators. The company draws parallels to the Entresto Phase III, PARADIGM-HF, which enrolled 8,442 patients with symptomatic heart failure. The primary endpoint was the decrease in risk for combined endpoint of cardiovascular death or hospitalization for heart failure.”

The analyst concluded, “Significant activities continue at Cytokinetics across the pipeline. 1) we look to the announcement of moving omecamtiv mecarbil into Phase III shortly with global partner Amgen (AMGN-NC), 2) enrollment in the VITALITY-ALS Phase III continues to be strong with tirasemtiv and 3) the CK-107 program continues to enroll the Phase II SMA study with a Phase II in COPD expected to begin shortly.”

According to, which measures analysts’ and bloggers’ success rate based on how their calls perform, analyst Joseph Pantginis has a yearly average return of 0.1% and a 38% success rate. Pantginis has a 31.5% average return when recommending CYTK, and is ranked #2150 out of 3913 analysts.

As of this writing, all the 4 analysts polled by TipRanks rate Cytokinetics stock a Buy. With a return potential of 133%, the stock’s consensus target price stands at $19.