H.C. Wainwright Reaffirms Their Buy Rating on Cytokinetics (CYTK)


H.C. Wainwright analyst Joseph Pantginis reiterated a Buy rating on Cytokinetics (CYTK) today and set a price target of $30.00. The company’s shares closed last Wednesday at $16.63, close to its 52-week high of $17.05.

According to TipRanks.com, Pantginis is a 5-star analyst with an average return of 12.1% and a 43.5% 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 $26.60 average price target, a 62.2% upside from current levels. In a report issued on April 23, Morgan Stanley also maintained a Buy rating on the stock with a $25.00 price target.

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Based on Cytokinetics’ latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $5.21 million and GAAP net loss of $30.64 million. In comparison, last year the company earned revenue of $9.38 million and had a GAAP net loss of $26.47 million.

Based on the recent corporate insider activity of 39 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. Earlier this month, Santo Costa, a Director at CYTK sold 8,332 shares for a total of $141,644.

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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