Cytokinetics (CYTK) Receives a Buy from Mizuho Securities

Mizuho Securities analyst Salim Syed maintained a Buy rating on Cytokinetics (CYTKResearch Report) today and set a price target of $26.00. The company’s shares closed last Tuesday at $25.34.

According to TipRanks.com, Syed is currently ranked with 0 stars on a 0-5 stars ranking scale, with an average return of -7.2% and a 43.3% success rate. Syed covers the Healthcare sector, focusing on stocks such as Atara Biotherapeutics, Assembly Biosciences, and Unity Biotechnology.

Cytokinetics has an analyst consensus of Strong Buy, with a price target consensus of $35.50, a 38.6% upside from current levels. In a report issued on April 19, Morgan Stanley also maintained a Buy rating on the stock with a $35.00 price target.

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Cytokinetics’ market cap is currently $1.85B and has a P/E ratio of -12.60. The company has a Price to Book ratio of 16.05.

Based on the recent corporate insider activity of 102 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. Most recently, in March 2021, Patrick Gage, a Director at CYTK sold 10,000 shares for a total of $244,400.

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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.