Cytokinetics Inc. Receives a Buy from JMP Securities

By Austin Angelo

JMP Securities analyst Jason Butler reiterated a Buy rating on Cytokinetics Inc. (NASDAQ: CYTK) today. The company’s shares opened today at $11.95.

According to TipRanks.com, Butler is a 4-star analyst with an average return of 3.9% and a 49.3% success rate. Butler covers the Healthcare sector, focusing on stocks such as Flamel Technologies S.A., Intra-Cellular Therapies, and ACADIA Pharmaceuticals.

Cytokinetics Inc. has an analyst consensus of Strong Buy, with a price target consensus of $16.

Based on Cytokinetics Inc.’s latest earnings report for the quarter ending September 30, the company posted quarterly revenue of $59.05 million and quarterly net profit of $31.89 million. In comparison, last year the company earned revenue of $7.95 million and had a GAAP net loss of $8.85 million.

Cytokinetics, Inc. is a late-stage biopharmaceutical company, which focuses on the discovery and developments of first-in-class muscle activators as potential treatment for debilitating diseases in which muscle performance is compromised and declining. Its research and development activities relating to the biology of muscle function have evolved from their knowledge and expertise regarding the cytoskeleton, a complex biological infrastructure that plays a fundamental role within every human cell. The company was founded on August 5, 1997 and is headquartered in South San Francisco, CA.