.jpg "Cytokinetics (NASDAQ: CYTK)")
In a report released today, Chad Messer from Needham reiterated a Buy rating on Cytokinetics (CYTK), with a price target of $24.00. The company’s shares closed last Wednesday at $16.63, close to its 52-week high of $17.05.
According to TipRanks.com, Messer is a 5-star analyst with an average return of 10.7% and a 47.0% success rate. Messer covers the Healthcare sector, focusing on stocks such as Phasebio Pharmaceuticals, Aeglea Biotherapeutics, and Ionis Pharmaceuticals.
Currently, the analyst consensus on Cytokinetics is a Strong Buy with an average price target of $26.60, representing a 62.2% upside. In a report issued on April 24, H.C. Wainwright also reiterated a Buy rating on the stock with a $30.00 price target.
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The company has a one-year high of $17.05 and a one-year low of $7.73. Currently, Cytokinetics has an average volume of 941K.
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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