Cytokinetics (CYTK) Gets a Hold from Bank of America Securities

Bank of America Securities analyst Jason Zemansky maintained a Hold rating on Cytokinetics (CYTK – Research Report) today. The company’s shares closed yesterday at $57.89.

Zemansky covers the Healthcare sector, focusing on stocks such as Cytokinetics, Insmed, and Esperion. According to TipRanks, Zemansky has an average return of 17.1% and a 58.33% success rate on recommended stocks.

Currently, the analyst consensus on Cytokinetics is a Strong Buy with an average price target of $97.69, representing a 68.75% upside. In a report released yesterday, Morgan Stanley also maintained a Hold rating on the stock with a $70.00 price target.

Based on Cytokinetics’ latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $1.67 million and a GAAP net loss of $136.9 million. In comparison, last year the company earned a revenue of $1.96 million and had a GAAP net loss of $137.38 million

Based on the recent corporate insider activity of 67 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. Last month, Fady Ibraham Malik, the EVP Research & Development of CYTK sold 32,605.00 shares for a total of $2,422,917.55.

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Cytokinetics (CYTK) Company Description:

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.