In a report released today, Matthew Harrison from Morgan Stanley maintained a Hold rating on Cytokinetics Inc (NASDAQ: CYTK), with a price target of $10. The company’s shares closed on Friday at $7.85.
According to TipRanks.com, Harrison is a 5-star analyst with an average return of 13.8% and a 63.2% success rate. Harrison covers the Healthcare sector, focusing on stocks such as Alexion Pharmaceuticals, Rubius Therapeutics Inc, and Sarepta Therapeutics.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Cytokinetics Inc with a $14 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 $29.08 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.