After Raymond James and H.C. Wainwright gave Cytokinetics (NASDAQ: CYTK) a Buy rating last month, the company received another Buy, this time from Needham. Analyst Chad Messer assigned a Buy rating to Cytokinetics today and set a price target of $33.00. The company’s shares closed last Monday at $16.07.
According to TipRanks.com, Messer is a 5-star analyst with an average return of 10.9% and a 48.1% success rate. Messer covers the Healthcare sector, focusing on stocks such as Phasebio Pharmaceuticals, Aeglea Biotherapeutics, and Ionis Pharmaceuticals.
Cytokinetics has an analyst consensus of Strong Buy, with a price target consensus of $29.13, an 82.1% upside from current levels. In a report issued on November 16, H.C. Wainwright also reiterated a Buy rating on the stock with a $43.00 price target.
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The company has a one-year high of $30.14 and a one-year low of $8.00. Currently, Cytokinetics has an average volume of 1.57M.
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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.