Cytokinetics Given Buy Rating at Zacks
Posted by Stephan Byrd on Apr 30th, 2015
Cytokinetics (NASDAQ:CYTK)‘s stock had its “buy” rating reiterated by Zacks in a report released on Thursday. They currently have a $8.80 target price on the stock. Zacks‘s price objective would suggest a potential upside of 39.90% from the company’s current price.
Zacks’ analyst wrote, “CYTOKINETCS is a different kind of company. It is increasingly unusual that an emerging growth biotechnology company would be dedicated to the discovery, development and commercialization of therapeutics. Similarly, it is more and more uncommon for a biopharmaceutical company to tackle the pursuit of new treatments for multiple disease areas, including cancer and cardiovascular diseases. However, the most important distinguishing feature of Cytokinetics is instead found in our commitment to innovation that has translated our focus on the cytoskeleton into a Research and Development pipeline of multiple, first-in-class compounds. All of the programs we are pursuing offer entirely novel therapeutic approaches to severe unmet clinical needs. The reason is simple. Innovative therapeutics are much more likely to bring substantial benefits to patients. “
Separately, analysts at Piper Jaffray upgraded shares of Cytokinetics from a “neutral” rating to an “overweight” rating and set a $13.00 price target on the stock in a research note on Friday, February 13th. Six equities research analysts have rated the stock with a buy rating, The stock currently has a consensus rating of “Buy” and an average price target of $10.80.
