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Cytokinetics has an analyst consensus of Strong Buy, with a price target consensus of $29.13, which is an 82.1% upside from current levels. In a report issued on November 16, Needham also assigned a Buy rating to the stock with a $33.00 price target.
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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.
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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.