Cantor Fitzgerald analyst Charles Duncan maintained a Buy rating on Cytokinetics Inc (CYTK) today and set a price target of $14. The company’s shares closed yesterday at $7.56.
Duncan noted:
“We have an Overweight rating based on ome’ in chronic HF and relde’ in SMA & ALS. For ome’, GALACTIC-HF data are expected in 2021, with interim reads in ’19 (futility) and ’20 (efficacy) that may lead to milestone payments to CYTK. Recent relde’ P2 data in SMA showed clinical benefit in 6MWD & MEP which enhances PoS in Type III SMA in our view. With VITALITY-ALS lessons learned & SMA PoC in hand, we are cautiously optimistic on relde’ prospects and believe investors may be overlooking potential value creation within the next 12 months.”
According to TipRanks.com, Duncan is a 1-star analyst with an average return of -0.9% and a 43.6% success rate. Duncan covers the Healthcare sector, focusing on stocks such as Biohaven Pharmaceutical Holding Co Ltd, KalVista Pharmaceuticals Inc, and ACADIA Pharmaceuticals Inc.
Currently, the analyst consensus on Cytokinetics Inc is a Strong Buy with an average price target of $14.25, an 88.5% upside from current levels. In a report issued on November 27, 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 $10.26 and a one-year low of $6.02. Currently, Cytokinetics Inc has an average volume of 367.1K.
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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.
