.jpg "Cytokinetics Inc (NASDAQ: CYTK)")
Cantor Fitzgerald analyst Mara Goldstein maintained a Hold rating on Cytokinetics Inc (NASDAQ: CYTK) yesterday and set a price target of $10. The company’s shares closed on Friday at $9.90.
Goldstein noted:
“Reldesemtiv and omecamtiv mecarbil, CYTK’s lead programs, have sizable opportunities given the limited treatment options in the markets that are being explored but are novel mechanisms, which enhances the risk profile, in our view. The loss of tirasemtiv was a sizable blow to CYTK and new data for reldesemtiv are a plus, in our view, with the shares now essentially at our price target.”
According to TipRanks.com, Goldstein is a 3-star analyst with an average return of 1.4% and a 40.6% success rate. Goldstein covers the Healthcare sector, focusing on stocks such as Karyopharm Therapeutics, CytomX Therapeutics Inc, and Genocea Biosciences.
Cytokinetics Inc has an analyst consensus of Moderate Buy, with a price target consensus of $15.
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Based on Cytokinetics Inc’s latest earnings release for the quarter ending March 31, the company reported a quarterly GAAP net loss of $30.28 million. In comparison, last year the company had a GAAP net loss of $25.87 million.
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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.
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