Cytokinetics, Inc.’s (CYTK) CK-107 Could Benefit from SMA Demand


H.C. Wainwright analyst Joseph Pantginis is out today with a research note on Cytokinetics, Inc. (NASDAQ:CYTK), highlighting Biogen’s strong initial launch for Spinraza in SMA, which could lay important groundwork for Cytokinetics’ CK-107. Pantginis rates Cytokinetics shares a Buy with a $25 price target, which implies an upside of 58% from current levels.

Pantginis wrote, “We are impressed by the early uptake for Spinraza talking to the underlying market demand for an untreated indication. Cytokinetics believes that there should be rapid uptake in Type I patients in particular, especially based on no prior treatment options. However, these patients can still suffer from muscle weakness and dysfunction. From a commercial standpoint, this is where CK-107 could also come into play in a meaningful fashion. Importantly, irrespective of the type of SMA disease, CK-107’s muscle activation mechanism has the likely ability to be complementary to other other approaches in providing meaningful potential benefit. These include Spinraza’s antisense approach or AveXis’ gene therapy approach. As physicians are finally being provided with treatment options for SMA, we believe that the market will be primed for CK-107, if approved.”

According to TipRanks.com, which measures analysts’ and bloggers’ success rate based on how their calls perform, analyst Joseph Pantginis has a yearly average return of -18.2% and a 29% success rate. Pantginis has a 46.9% average return when recommending CYTK, and is ranked #4516 out of 4571 analysts.

As of this writing, all the 5¬†analysts polled in the past 12 months rate Cytokinetics stock a Buy. With a return potential of 46%, the stock’s consensus target price stands at $23.00.

 

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