Cytokinetics Price Target Cut to $15.00 (CYTK)

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Needham & Company LLC decreased their price objective on shares of Cytokinetics (NASDAQ:CYTK) from $25.00 to $15.00 in a research note issued on Monday, AnalystRatingsNetwork.com reports. The firm currently has a “buy” rating on the stock. Needham & Company LLC’s price objective would suggest a potential upside of 230.40% from the stock’s previous close.

Several other analysts have also recently commented on the stock. Analysts at MLV & Co
downgraded shares of Cytokinetics from a “buy” rating to a “hold” rating in a research note on Friday, April 25th. They now have a $5.00 price target on the stock, down previously from $26.00. Separately, analysts at Piper Jaffray downgraded shares of Cytokinetics from an “overweight” rating to a “neutral” rating in a research note on Friday, April 25th. They now have a $7.00 price target on the stock, down previously from $18.00. Finally, analysts at Roth Capital initiated coverage on shares of Cytokinetics in a research note on Wednesday, March 5th. They set a “buy” rating and a $25.00 price target on the stock. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company. Cytokinetics currently has a consensus rating of “Buy” and an average price target of $12.20.

Cytokinetics (NASDAQ:CYTK) opened at 4.54 on Monday. Cytokinetics has a one year low of $4.30 and a one year high of $14.28. The stock’s 50-day moving average is $9.50 and its 200-day moving average is $8.0. The company’s market cap is $163.8 million.

Cytokinetics (NASDAQ:CYTK) last posted its quarterly earnings results on Thursday, February 6th. The company reported $0.21 EPS for the quarter, beating the Thomson Reuters consensus estimate of ($0.08) by $0.29. The company had revenue of $24.30 million for the quarter, compared to the consensus estimate of $19.14 million. Analysts expect that Cytokinetics will post $-1.26 EPS for the current fiscal year.

Cytokinetics, Incorporated (NASDAQ:CYTK) is a biopharmaceutical company focused on the discovery and development of small molecule therapeutics that modulate muscle function for the potential treatment of serious diseases and medical conditions.

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