After Morgan Stanley and Needham gave Cytokinetics (NASDAQ: CYTK) a Buy rating last month, the company received another Buy, this time from H.C. Wainwright. Analyst Joseph Pantginis reiterated a Buy rating on Cytokinetics today and set a price target of $30.00. The company’s shares closed last Tuesday at $13.46.
According to TipRanks.com, Pantginis is a 3-star analyst with an average return of 0.2% and a 33.6% success rate. Pantginis covers the Healthcare sector, focusing on stocks such as Applied Genetic Technologies, Lineage Cell Therapeutics, and Iovance Biotherapeutics.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Cytokinetics with a $25.25 average price target, implying an 82.3% upside from current levels. In a report issued on April 9, Morgan Stanley also upgraded the stock to Buy with a $25.00 price target.
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The company has a one-year high of $16.96 and a one-year low of $7.73. Currently, Cytokinetics has an average volume of 907.8K.
Based on the recent corporate insider activity of 37 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.
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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.
