Piper Jaffray Analyst Bullish on Cytokinetics, Inc. (CYTK)
Analyst Charles Duncan of Piper Jaffray maintained his Overweight rating for Cytokinetics, Inc. (NASDAQ:CYTK) with a price target of $24, marking a 138% increase from current levels. The analyst is expecting CYTK to complete enrollment in its Phase III VITALITY-ALS trial. This should diminish risk around the larger trial size and begin better study results next year. Duncan is also awaiting the “pivotal plan for omecamtiv to emerge by YE16 with, in [his] view, a probable Amgen opt-in.” He believes that this will lead to a strategic and cheaper route to market for “acute and chronic HF [heart failure] treatment.”
According to TipRanks, Duncan has a success rate of 37% with an average loss of 8.8% per recommendation.