.jpg "Cytokinetics Inc (NASDAQ: CYTK)")
H.C. Wainwright analyst Joseph Pantginis maintained a Buy rating on Cytokinetics Inc (CYTK) today and set a price target of $21. The company’s shares closed yesterday at $8.23.
Pantginis said:
“Valuation and potential impediments to achieving it. We maintain our Buy rating and $21 price target. We highlight that omecamtiv, partnered globally with Amgen, drives the lion’s share of our current valuation (>80%). Reldesemtiv (CK-107) represents the remainder of the contribution to our valuation (15.1% for SMA and 3.5% for ALS) with no contribution from the pipeline. We highlight that our projections for reldesemtiv in ALS could be considered quite conservative (10% chance of success for late Phase 2 asset and $750 million peak sales) but takes into consideration the underlying perceived risk for ALS. Our price target is based on our clinical net present value (NPV) model.”
According to TipRanks.com, Pantginis has 0 stars on 0-5 star ranking scale with an average return of -14.2% and a 29.4% success rate. Pantginis covers the Healthcare sector, focusing on stocks such as Applied Genetic Technologies, Checkpoint Therapeutics Inc, and Iovance Biotherapeutics Inc.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Cytokinetics Inc with a $14.67 average price target.
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Based on Cytokinetics Inc’s latest earnings release for the quarter ending December 31, the company reported a quarterly GAAP net loss of $26.47 million. In comparison, last year the company had a GAAP net loss of $40.48 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.
