Zacks: Analysts Anticipate Cytokinetics, Inc. (NASDAQ:CYTK) to Announce -$0.50 EPS

Analysts expect Cytokinetics, Inc. (NASDAQ:CYTK) to announce earnings per share (EPS) of ($0.50) for the current quarter, Zacks reports. Two analysts have issued estimates for Cytokinetics’ earnings, with the lowest EPS estimate coming in at ($0.55) and the highest estimate coming in at ($0.43). Cytokinetics reported earnings of ($0.56) per share during the same quarter last year, which suggests a positive year over year growth rate of 10.7%. The firm is scheduled to announce its next quarterly earnings report on Thursday, August 13th.

On average, analysts expect that Cytokinetics will report full-year earnings of ($2.16) per share for the current financial year, with EPS estimates ranging from ($2.56) to ($1.19). For the next fiscal year, analysts anticipate that the business will post earnings of ($2.33) per share, with EPS estimates ranging from ($3.03) to ($1.46). Zacks’ earnings per share averages are a mean average based on a survey of sell-side research firms that that provide coverage for Cytokinetics.

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

A number of equities analysts have recently issued reports on the company. Cantor Fitzgerald increased their target price on Cytokinetics from $12.00 to $23.00 and gave the stock an “overweight” rating in a research note on Friday, April 17th. Zacks Investment Research downgraded Cytokinetics from a “hold” rating to a “sell” rating in a research note on Tuesday, June 16th. BidaskClub raised Cytokinetics from a “buy” rating to a “strong-buy” rating in a research note on Saturday, June 13th. ValuEngine raised Cytokinetics from a “hold” rating to a “buy” rating in a research note on Friday, March 20th. Finally, HC Wainwright increased their target price on Cytokinetics from $30.00 to $35.00 and gave the stock a “buy” rating in a research note on Monday, May 11th. One equities research analyst has rated the stock with a sell rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target 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 stock was sold at an average price of $16.00, for a total transaction of $159,984.00. Following the sale, the director now owns 3,333 shares in the company, valued at approximately $53,328. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Sandford D. Smith sold 10,000 shares of the stock in a transaction on Monday, June 22nd. The shares were sold at an average price of $24.50, for a total value of $245,000.00. Following the sale, the director now owns 5,000 shares in the company, valued at approximately $122,500. The disclosure for this sale can be found here. In the last quarter, insiders have sold 111,948 shares of company stock worth $2,277,533. 6.40% of the stock is owned by insiders.

A number of large investors have recently made changes to their positions in CYTK. BVF Inc. IL grew its holdings in Cytokinetics by 73.0% during the 4th quarter. BVF Inc. IL now owns 7,206,458 shares of the biopharmaceutical company’s stock valued at $76,461,000 after buying an additional 3,040,900 shares during the last quarter. Point72 Asset Management L.P. boosted its holdings in shares of Cytokinetics by 597.7% during the fourth quarter. Point72 Asset Management L.P. now owns 3,028,751 shares of the biopharmaceutical company’s stock worth $32,135,000 after purchasing an additional 2,594,651 shares during the last quarter. Jennison Associates LLC acquired a new stake in shares of Cytokinetics during the fourth quarter worth $6,472,000. Jacobs Levy Equity Management Inc. acquired a new stake in shares of Cytokinetics during the fourth quarter worth $5,429,000. Finally, Wasatch Advisors Inc. boosted its holdings in shares of Cytokinetics by 15.7% during the first quarter. Wasatch Advisors Inc. now owns 2,999,913 shares of the biopharmaceutical company’s stock worth $35,369,000 after purchasing an additional 406,453 shares during the last quarter. Hedge funds and other institutional investors own 93.71% of the company’s stock.

Shares of CYTK stock traded down $0.18 during trading hours on Tuesday, reaching $23.59. 572,300 shares of the company’s stock were exchanged, compared to its average volume of 886,515. The company has a market cap of $1.41 billion, a P/E ratio of -10.53 and a beta of 1.41. The company’s 50 day moving average is $21.73 and its two-hundred day moving average is $15.02. Cytokinetics has a 1 year low of $7.72 and a 1 year 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.

Further Reading: Limitations of the P/E Growth ratio

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Earnings History and Estimates for Cytokinetics (NASDAQ:CYTK)

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