Cytokinetics Inc [CYTK] stock Downgrade by Morgan Stanley analyst, price target now $90

Cytokinetics Inc [NASDAQ: CYTK] gained 15.29% on the last trading session, reaching $108.06 price per share at the time. The company report on January 3, 2024 at 4:00 PM that Cytokinetics Announces Inducement Grants Under Nasdaq Listing Rule 5635(c)(4).

The stock options that were granted are subject to an exercise price of $83.49 per share, which is equal to the closing price of the Company’s common stock on December 29, 2023, and will vest over 4 years, with 1/4th of the shares underlying the employee’s option vesting on the one-year anniversary of the applicable vesting commencement date and the remaining shares thereafter vesting monthly at a rate of 1/48th of the shares underlying each employee’s option over the subsequent 36 months, subject to the new employee’s continued service with the Company. Each stock option has a 10-year term and is subject to the terms and conditions of the Company’s Amended and Restated 2004 Equity Incentive Plan and the stock option agreement pursuant to which the option was granted.

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Cytokinetics Inc represents 94.83 million in outstanding shares, while the company has a total market value of $10.60 billion with the latest information. CYTK stock price has been found in the range of $85.86 to $110.25.

If compared to the average trading volume of 2.64M shares, CYTK reached a trading volume of 15717896 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying about Cytokinetics Inc [CYTK]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for CYTK shares is $89.82 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on CYTK stock is a recommendation set at 1.35. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Morgan Stanley have made an estimate for Cytokinetics Inc shares, keeping their opinion on the stock as Equal-Weight, with their previous recommendation back on January 05, 2024.

The Average True Range (ATR) for Cytokinetics Inc is set at 6.92, with the Price to Sales ratio for CYTK stock in the period of the last 12 months amounting to 1354.90.

Trading performance analysis for CYTK stock

Cytokinetics Inc [CYTK] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 29.43. With this latest performance, CYTK shares gained by 222.95% in over the last four-week period, additionally plugging by 201.42% over the last 6 months – not to mention a rise of 154.08% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for CYTK stock in for the last two-week period is set at 95.37, with the RSI for the last a single of trading hit 97.52, and the three-weeks RSI is set at 92.85 for Cytokinetics Inc [CYTK]. The present Moving Average for the last 50 days of trading for this stock 43.31, while it was recorded at 92.16 for the last single week of trading, and 36.88 for the last 200 days.

Cytokinetics Inc [CYTK]: A deeper dive into fundamental analysis

Operating Margin for any stock indicates how profitable investing would be, and Cytokinetics Inc [CYTK] shares currently have an operating margin of -342.75 and a Gross Margin at +91.12. Cytokinetics Inc’s Net Margin is presently recorded at -411.21.

Return on Total Capital for CYTK is now -56.13, given the latest momentum, and Return on Invested Capital for the company is -68.99. Return on Equity for this stock declined to -572.15, with Return on Assets sitting at -41.91. Additionally, CYTK Total Debt to Total Capital is recorded at 116.82, with Total Debt to Total Assets ending up at 73.84.

Reflecting on the efficiency of the workforce at the company, Cytokinetics Inc [CYTK] managed to generate an average of -$950,990 per employee. Receivables Turnover for the company is 3.64 with a Total Asset Turnover recorded at a value of 0.10.Cytokinetics Inc’s liquidity data is similarly interesting compelling, with a Quick Ratio of 7.22 and a Current Ratio set at 7.22.

Cytokinetics Inc [CYTK]: An earnings per share (EPS) analysis

The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for CYTK. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Cytokinetics Inc go to 15.00%.

An analysis of Institutional ownership at Cytokinetics Inc [CYTK]

The top three institutional holders of CYTK stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in CYTK stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in CYTK stock with ownership which is approximately 5.8325%.