.png "Cytokinetics Inc (NASDAQ: CYTK)")
H.C. Wainwright analyst Joseph Pantginis reiterated a Buy rating on Cytokinetics Inc (CYTK) today and set a price target of $26. The company’s shares closed yesterday at $9.01.
Pantginis noted:
“Valuation and potential impediments to achieving it. We reiterate our Buy rating and $26 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 (10.2% for SMA and 6.3% for ALS) with no contribution from the pipeline, especially CK-274, which is now clinical stage. Our price target is based on our clinical net present value (NPV) model.”
According to TipRanks.com, Pantginis ‘ ranking currently consits of no stars on a 0-5 ranking scale, with an average return of -2.2% and a 37.0% success rate. Pantginis covers the Healthcare sector, focusing on stocks such as Applied Genetic Technologies, Iovance Biotherapeutics Inc, and Checkpoint Therapeutics Inc.
Currently, the analyst consensus on Cytokinetics Inc is a Strong Buy with an average price target of $16.67, an 85.0% upside from current levels. In a report issued on May 5, Cantor Fitzgerald also maintained a Buy rating on the stock with a $10 price target.
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The company has a one-year high of $10.44 and a one-year low of $5.75. Currently, Cytokinetics Inc has an average volume of 648.5K.
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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.
