Wall Street brokerages expect Cytokinetics (NASDAQ:CYTK) to announce sales of $5.57 million for the current fiscal quarter, according to Zacks. Two analysts have provided estimates for Cytokinetics’ earnings, with the highest sales estimate coming in at $6.10 million and the lowest estimate coming in at $5.03 million. Cytokinetics reported sales of $3.05 million during the same quarter last year, which would suggest a positive year over year growth rate of 82.6%. The firm is expected to issue its next earnings report on Wednesday, August 1st.
On average, analysts expect that Cytokinetics will report full year sales of $23.60 million for the current financial year, with estimates ranging from $22.27 million to $25.58 million. For the next financial year, analysts anticipate that the firm will report sales of $135.02 million per share, with estimates ranging from $24.80 million to $245.24 million. Zacks’ sales calculations are a mean average based on a survey of sell-side research firms that that provide coverage for Cytokinetics.
Get Cytokinetics alerts:Cytokinetics (NASDAQ:CYTK) last issued its earnings results on Thursday, April 26th. The biopharmaceutical company reported ($0.56) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.50) by ($0.06). The business had revenue of $5.27 million during the quarter, compared to analyst estimates of $5.50 million. Cytokinetics had a negative net margin of 172.27% and a negative return on equity of 99.50%.
A number of equities research analysts recently issued reports on the stock. BidaskClub raised shares of Cytokinetics from a “sell” rating to a “hold” rating in a report on Saturday, April 28th. Piper Jaffray Companies dropped their price objective on shares of Cytokinetics to $13.00 and set an “overweight” rating for the company in a report on Monday. Cantor Fitzgerald reissued a “hold” rating and issued a $10.00 price objective on shares of Cytokinetics in a report on Sunday. ValuEngine raised shares of Cytokinetics from a “sell” rating to a “hold” rating in a report on Friday, April 27th. Finally, HC Wainwright reissued a “buy” rating and issued a $20.00 price objective on shares of Cytokinetics in a report on Friday, April 27th. Four equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $15.56.
Shares of Cytokinetics traded up $0.10, reaching $8.35, during mid-day trading on Friday, according to MarketBeat Ratings. The company’s stock had a trading volume of 647,061 shares, compared to its average volume of 359,235. The stock has a market capitalization of $536.56 million, a price-to-earnings ratio of -3.19 and a beta of 1.17. The company has a quick ratio of 7.07, a current ratio of 7.07 and a debt-to-equity ratio of 0.32. Cytokinetics has a 1-year low of $6.75 and a 1-year high of $15.95.
In other Cytokinetics news, EVP Fady Ibraham Malik sold 3,000 shares of the stock in a transaction dated Thursday, June 7th. The shares were sold at an average price of $8.95, for a total transaction of $26,850.00. Following the completion of the transaction, the executive vice president now owns 96,067 shares of the company’s stock, valued at $859,799.65. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Robert I. Blum sold 4,000 shares of the stock in a transaction dated Thursday, April 5th. The stock was sold at an average price of $7.52, for a total transaction of $30,080.00. Following the transaction, the chief executive officer now directly owns 182,701 shares of the company’s stock, valued at approximately $1,373,911.52. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 15,000 shares of company stock valued at $123,570. 5.10% of the stock is currently owned by insiders.
A number of hedge funds have recently made changes to their positions in CYTK. DRW Securities LLC purchased a new position in Cytokinetics during the first quarter worth about $101,000. Virtu Financial LLC purchased a new position in Cytokinetics during the fourth quarter worth about $112,000. Teacher Retirement System of Texas purchased a new position in Cytokinetics during the fourth quarter worth about $113,000. Ellington Management Group LLC purchased a new position in Cytokinetics during the fourth quarter worth about $128,000. Finally, Granite Investment Advisors LLC purchased a new position in Cytokinetics during the fourth quarter worth about $151,000. 68.01% of the stock is owned by institutional investors.
Cytokinetics Company Profile
Cytokinetics, Incorporated, a late-stage biopharmaceutical company, focuses on discovering, developing, and commercializing muscle activators as potential treatments for debilitating diseases in which muscle performance is compromised and/or declining. It is developing small molecule drug candidates primarily engineered to increase muscle function and contractility.
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