Cytokinetics (CYTK) Received its Third Buy in a Row


After H.C. Wainwright and Piper Sandler gave Cytokinetics (NASDAQ: CYTK) a Buy rating last month, the company received another Buy, this time from Raymond James. Analyst Dane Leone maintained a Buy rating on Cytokinetics today. The company’s shares closed last Wednesday at $19.98.

According to TipRanks.com, Leone is a 5-star analyst with an average return of 18.8% and a 66.9% success rate. Leone covers the Healthcare sector, focusing on stocks such as Lineage Cell Therapeutics, Adverum Biotechnologies, and Tarsus Pharmaceuticals.

Cytokinetics has an analyst consensus of Strong Buy, with a price target consensus of $27.50, implying a 32.5% upside from current levels. In a report issued on January 13, H.C. Wainwright also maintained a Buy rating on the stock with a $22.00 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 1.06M.

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.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

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.

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