H.C. Wainwright analyst Joseph Pantginis maintained a Buy rating on Cytokinetics Inc (NASDAQ: CYTK) today and set a price target of $21. The company’s shares opened today at $8.49.
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%). Our price target is based on our clinical net present value (NPV) model. We believe this method is appropriate in capturing the value of the clinical stage pipeline by allowing us to flex multiple assumptions, including the chance of success, peak sales estimates, and year of commercial launch.”
According to TipRanks.com, Pantginis is ranked 0 out of 5 stars with an average return of -9.1% and a 36.0% success rate. Pantginis covers the Healthcare sector, focusing on stocks such as SELLAS Life Sciences Group Inc, Applied Genetic Technologies, and Iovance Biotherapeutics 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, a 70.8% upside from current levels. In a report issued on October 5, Cantor Fitzgerald also maintained a Buy rating on the stock with a $14 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.
