Brokerages Expect Cytokinetics, Inc. (NASDAQ:CYTK) Will Post Earnings of -$0.50 Per Share

Equities research analysts expect Cytokinetics, Inc. (NASDAQ:CYTK) to report earnings of ($0.50) per share for the current quarter, according to Zacks. Two analysts have made estimates for Cytokinetics’ earnings, with the lowest EPS estimate coming in at ($0.55) and the highest estimate coming in at ($0.43). Cytokinetics posted earnings per share of ($0.56) during the same quarter last year, which indicates a positive year-over-year growth rate of 10.7%. The business is expected to issue its next quarterly earnings results on Thursday, August 13th.

On average, analysts expect that Cytokinetics will report full-year earnings of ($2.16) per share for the current year, with EPS estimates ranging from ($2.56) to ($1.19). For the next financial year, analysts expect that the company will report earnings of ($2.33) per share, with EPS estimates ranging from ($3.03) to ($1.46). Zacks Investment Research’s earnings per share calculations are an average based on a survey of sell-side analysts that that provide coverage for Cytokinetics.

Cytokinetics (NASDAQ:CYTK) last posted its quarterly earnings results on Wednesday, May 6th. The biopharmaceutical company reported ($0.66) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.50) by ($0.16). The firm had revenue of $3.83 million during the quarter, compared to analyst estimates of $4.92 million. Cytokinetics had a negative return on equity of 10,351.99% and a negative net margin of 592.61%.

Several equities research analysts recently commented on CYTK shares. Morgan Stanley boosted their target price on Cytokinetics from $25.00 to $29.00 and gave the stock an “overweight” rating in a report on Tuesday, May 12th. Cantor Fitzgerald upped their price target on Cytokinetics from $12.00 to $23.00 and gave the company an “overweight” rating in a report on Friday, April 17th. Needham & Company LLC reaffirmed a “buy” rating and issued a $24.00 price target on shares of Cytokinetics in a report on Thursday, May 7th. BidaskClub upgraded shares of Cytokinetics from a “buy” rating to a “strong-buy” rating in a research report on Saturday, June 13th. Finally, ValuEngine upgraded shares of Cytokinetics from a “hold” rating to a “buy” rating in a research report on Friday, March 20th. One equities research analyst has rated the stock with a sell rating, eight have given a buy rating and one has given a strong buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $26.43.

In other Cytokinetics news, Director Wendall Wierenga sold 9,999 shares of the stock in a transaction on Tuesday, April 28th. The shares were sold at an average price of $16.00, for a total value of $159,984.00. Following the sale, the director now directly owns 3,333 shares in the company, valued at $53,328. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Robert I. Blum sold 5,000 shares of the firm’s stock in a transaction on Friday, May 1st. The stock was sold at an average price of $14.34, for a total transaction of $71,700.00. The disclosure for this sale can be found here. Insiders have sold 111,948 shares of company stock worth $2,277,533 over the last three months. 6.40% of the stock is owned by insiders.

Institutional investors have recently added to or reduced their stakes in the stock. Bessemer Group Inc. bought a new position in Cytokinetics in the first quarter valued at $34,000. Russell Investments Group Ltd. bought a new position in shares of Cytokinetics in the 4th quarter valued at about $59,000. Victory Capital Management Inc. grew its position in shares of Cytokinetics by 36.8% in the 4th quarter. Victory Capital Management Inc. now owns 11,371 shares of the biopharmaceutical company’s stock valued at $121,000 after acquiring an additional 3,057 shares during the period. Virginia Retirement Systems ET AL bought a new position in shares of Cytokinetics in the 1st quarter valued at about $126,000. Finally, Sanders Morris Harris LLC bought a new position in shares of Cytokinetics in the 1st quarter valued at about $145,000. 93.71% of the stock is owned by institutional investors and hedge funds.

CYTK stock traded down $0.18 during midday trading on Tuesday, reaching $23.59. The company had a trading volume of 572,300 shares, compared to its average volume of 886,515. The stock has a 50 day moving average price of $21.73 and a 200 day moving average price of $15.02. The firm has a market capitalization of $1.41 billion, a PE ratio of -10.53 and a beta of 1.41. Cytokinetics has a fifty-two week low of $7.72 and a fifty-two week high of $25.23.

Cytokinetics Company Profile

Cytokinetics, Incorporated, a late-stage biopharmaceutical company, focuses on discovering, developing, and commercializing muscle activators and inhibitors as potential treatments for debilitating diseases in which muscle performance is compromised and/or declining. The company is developing small molecule drug candidates primarily engineered to increase muscle function and contractility.

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Earnings History and Estimates for Cytokinetics (NASDAQ:CYTK)

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