Citigroup Gives Cytokinetics a Boost with a Buy Recommendation
On February 7, 2025, Citigroup announced it is initiating coverage of Cytokinetics (NasdaqGS:CYTK) and has issued a Buy recommendation for the company’s stock.
Analysts Predict Significant Price Increase
As of January 29, 2025, analysts project an average one-year price target for Cytokinetics at $84.12 per share. This forecast ranges from a low of $60.60 to a high of $126.00. Notably, this average price target indicates a potential increase of 96.73% from its most recent closing price of $42.76 per share.
For more insights, check our leaderboard of companies with the highest price target upside.
Strong Revenue Projections
Cytokinetics is expected to generate an annual revenue of $354 million, showing an impressive increase of 10,895.34%. However, the projected annual non-GAAP EPS stands at -3.99.
Market Sentiment towards Cytokinetics
A total of 792 funds or institutions have reported positions in Cytokinetics, marking a decline of 19 owners, or 2.34%, over the past quarter. The average portfolio allocation of all funds dedicated to CYTK is 0.33%, reflecting an increase of 14.39%. Additionally, institutional ownership rose by 6.46% in the last three months, resulting in 158,769K shares owned.
The put/call ratio for CYTK is 0.23, suggesting a bullish market sentiment regarding the stock.
T. Rowe Price Investment Management holds 9,690K shares, accounting for 8.21% of the company. This is an increase from their previous holding of 8,139K shares, representing an uptick of 16.01%. The firm also boosted its allocation in Cytokinetics by 10.86% in the last quarter.
Wellington Management Group LLP owns 7,775K shares, which is 6.59% of the company. This reflects a rise from 7,510K shares, an increase of 3.41%. However, the firm cut its allocation in CYTK by 86.12% over the same period.
Bank of America has increased its stake to 4,829K shares, now representing 4.09% ownership, up from 4,381K shares or a 9.29% increase. Their portfolio allocation in CYTK rose modestly by 0.93% in the past quarter.
Vanguard Health Care Fund Investor Shares hold 4,068K shares, maintaining a 3.45% stake with no recent changes. Meanwhile, Vanguard Total Stock Market Index Fund Investor Shares owns 3,752K shares, making up 3.18% of ownership. This was an increase from 3,620K shares, though the firm reduced its allocation in CYTK by 5.13% over the last quarter.
Cytokinetics’ Company Overview
(This description is provided by the company.)
Cytokinetics, Inc. is a publicly traded biopharmaceutical firm based in South San Francisco, California. It specializes in developing muscle activators and inhibitors aimed at treating diseases associated with impaired or declining muscle function.
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