.jpg "Cytokinetics Inc (NASDAQ: CYTK)")
Cantor Fitzgerald analyst Charles Duncan reiterated a Buy rating on Cytokinetics Inc (NASDAQ: CYTK) today and set a price target of $14. The company’s shares closed yesterday at $8.66.
Duncan said:
“We reiterate our OW rating and 12-month price target of $14. CYTK hosted a R&D Day during which it provided incremental updates on its programs and broadening pipeline. Takeaways include design of the second P3 study of ome’ called METEORIC-HF, which we are enthusiastic to see as it will evaluate exercise tolerance in patients with HF. METEROIC data are expected in 2021, and we believe a positive outcome would brightline the differentiated clinical profile vs. current SOC. Additionally, data from the primary study for regulatory purposes, GALACTIC-HF, are expected in 2021, with interim reads in 2019 (futility) and 2020 (efficacy) that may yield milestone payments to the company.”
According to TipRanks.com, Duncan is a 3-star analyst with an average return of 2.2% and a 46.2% success rate. Duncan covers the Healthcare sector, focusing on stocks such as Biohaven Pharmaceutical Holding Co Ltd, KalVista Pharmaceuticals Inc, and ACADIA Pharmaceuticals Inc.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Cytokinetics Inc with a $14.50 average price target, implying a 67.4% upside from current levels. In a report issued on October 5, H.C. Wainwright also maintained a Buy rating on the stock with a $21 price target.
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The company has a one-year high of $15.60 and a one-year low of $6.21. Currently, Cytokinetics Inc has an average volume of 267.7K.
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Cytokinetics, Inc. operates as a biopharmaceutical company, which focuses on the discovery and development of muscle activators as potential treatment for debilitating diseases. It conducts a Phase 2 clinical trials program for tirasemtiv, including a Phase 2b clinical trial in patients with ALS, known as BENEFIT-ALS (Blinded Evaluation of Neuromuscular Effects and Functional Improvement with Tirasemtiv in ALS). The company was founded on August 5, 1997 and is headquartered in South San Francisco, CA.
