– $ 0.75 in earnings per share expected for Cytokinetics, Incorporated (NASDAQ: CYTK) this quarter

0

Stock analysts expect Cytokinetics, Incorporated (NASDAQ: CYTK) to report earnings of ($ 0.75) per share for the current quarter, according to Zacks. Four analysts provided earnings estimates for Cytokinetics, with the highest EPS estimate at ($ 0.72) and the lowest estimate at ($ 0.77). Cytokinetics reported earnings per share of ($ 0.05) for the same quarter last year, indicating a negative year-over-year growth rate of 1,400%. The company is expected to report its next quarterly results on Wednesday, November 3.

According to Zacks, analysts expect Cytokinetics to report annual profit of ($ 2.97) per share for the current fiscal year, with EPS estimates ranging from ($ 3.18) to (2.85 $). For the next fiscal year, analysts expect the company to report earnings of ($ 2.89) per share, with EPS estimates ranging from ($ 3.58) to ($ 2.18). Zacks Investment Research’s EPS averages are an average based on a survey of seller-side research companies that track Cytokinetics.

Cytokinetics (NASDAQ: CYTK) last reported its results on Thursday, August 5. The biopharmaceutical company announced ($ 0.86) EPS for the quarter, missing the consensus estimate of ($ 0.66) of ($ 0.20). Cytokinetics had a negative net margin of 269.48% and a negative return on equity of 179.39%. The company posted revenue of $ 2.84 million for the quarter, compared to $ 5.68 million expected by analysts.

Several equity research analysts recently published reports on the company. Morgan Stanley increased its price target on Cytokinetics from $ 38.00 to $ 45.00 and rated the stock “overweight” in a research note on Friday. Piper Sandler reduced her price target on Cytokinetics from $ 42.00 to $ 40.00 and set an “overweight” rating for the company in a research note on Monday, August 9. Barclays raised its price target on Cytokinetics from $ 40.00 to $ 45.00 and rated the stock “overweight” in a research note on Tuesday, September 7. HC Wainwright reissued a “buy” note and issued a price target of $ 58.00 on shares of Cytokinetics in a research note Friday. Finally, Raymond James increased his price target on Cytokinetics from $ 37.00 to $ 54.00 and gave the stock an “outperformance” rating in a research note on Monday, July 19. Two equity research analysts rated the stock with a conservation rating and eleven gave the company’s stock a buy rating. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $ 46.58.

(A d)

The cheapest is just $ 2. But the best crypto traders are flocking.

In other Cytokinetics news, insider David Cragg sold 7,569 shares of the company in a trade that took place on Friday, October 1. The stock was sold for an average price of $ 35.14, for a total value of $ 265,974.66. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC’s website. Additionally, CEO Robert I. Blum sold 5,000 shares of the company in a transaction that took place on Thursday, July 22. The shares were sold for an average price of $ 29.82, for a total value of $ 149,100.00. Disclosure of this sale can be found here. In the past three months, insiders have sold 41,150 shares of the company valued at $ 1,281,831. 5.70% of the shares are currently owned by insiders.

A number of institutional investors and hedge funds have recently increased or reduced their holdings in CYTK. Prudential Financial Inc. increased its position in Cytokinetics shares by 0.6% in the 1st quarter. Prudential Financial Inc. now owns 80,815 shares of the biopharmaceutical company valued at $ 1,880,000 after acquiring 450 additional shares during the period. The New York State Common Retirement Fund increased its position in Cytokinetics shares by 0.9% in the 2nd quarter. The New York State Pooled Retirement Fund now owns 60,745 shares of the biopharmaceutical company valued at $ 1,202,000 after acquiring an additional 545 shares during the period. Sei Investments Co. increased its position in Cytokinetics shares by 1.9% in the 2nd quarter. Sei Investments Co. now owns 30,417 shares of the biopharmaceutical company valued at $ 593,000 after acquiring an additional 574 shares during the period. Mutual of America Capital Management LLC increased its position in Cytokinetics shares by 7.3% in Q1. Mutual of America Capital Management LLC now owns 9,497 shares of the biopharmaceutical company valued at $ 221,000 after acquiring 649 additional shares during the period. Finally, the Public Sector Pension Investment Board increased its position in Cytokinetics shares by 0.5% in the second quarter. The Public Sector Pension Investment Board now owns 146,592 shares of the biopharmaceutical company valued at $ 2,901,000 after acquiring an additional 660 shares during the period. 90.54% of the shares are currently held by hedge funds and other institutional investors.

NASDAQ CYTK shares traded down $ 0.84 at midday on Friday, reaching $ 38.01. 840,337 shares of the company traded hands, compared to its average volume of 1,198,723. Cytokinetics has a one-year low at $ 14.71 and a one-year high at $ 39.46. The stock has a market cap of $ 3.17 billion, a price-to-earnings ratio of -17.36 and a beta of 1.41. The company has a rapid ratio of 5.90, a current ratio of 5.90 and a debt ratio of 7.76. The company has a 50-day moving average of $ 32.70 and a two-hundred-day moving average of $ 26.72.

About cytokinetics

Cytokinetics, Inc. operates as a biopharmaceutical company. The company is focused on the discovery and development of muscle activators as a potential treatment for debilitating diseases. She is leading a phase 2 clinical trial 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 ).

Featured Article: What is a Fibonacci Chain?

Get a free copy of Zacks’ Cytokinetics Research Report (CYTK)

For more information on Zacks Investment Research’s research offerings, visit Zacks.com

Gain History and Estimates for Cytokinetics (NASDAQ: CYTK)

This instant news alert was powered by narrative science technology and MarketBeat financial data to provide readers with the fastest, most accurate reports. This story was reviewed by the MarketBeat editorial team prior to publication. Please send any questions or comments about this story to [email protected]

Should you invest $ 1,000 in Cytokinetics now?

Before you consider cytokinetics, you’ll want to hear this.

MarketBeat tracks Wall Street’s top-rated and top-performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat identified the five stocks that top analysts quietly whisper to their clients to buy now before the larger market takes hold of… and Cytokinetics was not on the list.

Although Cytokinetics currently has a “Buy” rating among analysts, top-rated analysts believe these five stocks are better bids.

See the 5 actions here


Source link

Leave A Reply

Your email address will not be published.