After Morgan Stanley and Piper Sandler gave Cytokinetics (NASDAQ: CYTK) a Buy rating last month, the company received another Buy, this time from H.C. Wainwright. Analyst Joseph Pantginis maintained a Buy rating on Cytokinetics today and set a price target of $22.00. The company’s shares closed last Tuesday at $19.68.
According to TipRanks.com, Pantginis is a top 100 analyst with an average return of 41.0% and a 66.8% success rate. Pantginis covers the Healthcare sector, focusing on stocks such as Applied Genetic Technologies, Catabasis Pharmaceuticals, and Lineage Cell Therapeutics.
Cytokinetics has an analyst consensus of Strong Buy, with a price target consensus of $24.33.
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Based on Cytokinetics’ latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $41.69 million and GAAP net loss of $3.18 million. In comparison, last year the company earned revenue of $6.06 million and had a GAAP net loss of $29.57 million.
Based on the recent corporate insider activity of 78 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of CYTK in relation to earlier this year. Most recently, in December 2020, Patrick Gage, a Director at CYTK sold 7,716 shares for a total of $162,036.
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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.