.jpg "Cytokinetics Inc (NASDAQ: CYTK)")
Cantor Fitzgerald analyst Charles Duncan maintained a Buy rating on Cytokinetics Inc (NASDAQ: CYTK) today and set a price target of $14. The company’s shares closed yesterday at $8.93.
Duncan observed:
“We have an Overweight rating based on expectations for increasingly visible pipeline progress with ome’ in chronic HF and relde’ in SMA, ALS, COPD and frailty. For ome’ development, GALACTIC-HF data are expected in 2021, with interim reads in ’19 (futility) and ’20 (efficacy) that may lead to large milestone payments to CYTK and/or acquisition interest. Recent provocative relde’ P2 data in SMA showed dose/exposure dependent clinical benefit in 6MWD & MEP, which may translate to other indications, as well as enhance PoS in Type III SMA.”
According to TipRanks.com, Duncan is a 3-star analyst with an average return of 3.0% and a 48.1% 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 Moderate Buy analyst consensus rating for Cytokinetics Inc with a $16 average price target.
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Based on Cytokinetics Inc’s latest earnings release for the quarter ending June 30, the company reported a quarterly GAAP net loss of $27.52 million. In comparison, last year the company had a GAAP net loss of $32.36 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.
