Cytokinetics, Inc. (NASDAQ:CYTK)’s share price dropped 0% during trading on Friday following a dissappointing earnings announcement. The stock traded as low as $7.50 and last traded at $8.02. Approximately 785,805 shares were traded during trading, an increase of 117% from the average daily volume of 362,521 shares. The stock had previously closed at $8.02.
The biopharmaceutical company reported ($0.75) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.71) by ($0.04). The firm had revenue of ($0.02) million for the quarter, compared to the consensus estimate of $4.83 million. Cytokinetics had a negative net margin of 172.27% and a negative return on equity of 62.64%.
CYTK has been the topic of several research reports. TheStreet cut Cytokinetics from a “c” rating to a “d” rating in a research report on Friday, October 27th. JMP Securities reaffirmed an “outperform” rating and set a $13.00 price objective (down from $17.00) on shares of Cytokinetics in a research report on Tuesday, November 21st. They noted that the move was a valuation call. Cantor Fitzgerald cut Cytokinetics from an “overweight” rating to a “neutral” rating and cut their price objective for the company from $21.00 to $10.00 in a research report on Wednesday, November 22nd. Needham & Company LLC cut Cytokinetics from a “strong-buy” rating to a “buy” rating and cut their price objective for the company from $22.00 to $12.00 in a research report on Tuesday, November 21st. Finally, ValuEngine cut Cytokinetics from a “hold” rating to a “sell” rating in a research report on Tuesday, November 21st. One investment analyst has rated the stock with a sell rating, two have given a hold rating and ten have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $17.91.
The company has a quick ratio of 7.60, a current ratio of 7.60 and a debt-to-equity ratio of 0.14. The stock has a market capitalization of $432.42, a PE ratio of -3.11 and a beta of 1.03.
Cytokinetics, Incorporated is a late-stage biopharmaceutical company. The Company is focused on discovering, developing and commercializing first-in-class muscle activators as potential treatments for debilitating diseases in which muscle performance is compromised and/or declining. It is focused on the discovery and development of small molecule therapeutics that modulate muscle function for the treatment of serious diseases and medical conditions.
Receive News & Ratings for Cytokinetics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cytokinetics and related companies with MarketBeat.com's FREE daily email newsletter.