Cytokinetics Inc (NASDAQ:CYTK) price on Thursday, February 27, rose 1.26% above its previous day’s close as an upside momentum from buyers pushed the stock’s value to $47.45.
A look at the stock’s price movement, the close in the last trading session was $46.86. Turning to its 52-week performance, $81.36 and $40.53 were the 52-week high and 52-week low respectively. Overall, CYTK moved -2.57% over the past month.
Cytokinetics Inc’s market cap currently stands at around $5.60 billion, with investors looking forward to this quarter’s earnings report slated for in March.
The average forecast suggests down to a -27.38% growth in sales growth compared to quarterly growth in the same period last fiscal year. Wall Street analysts have also projected the company’s year-on-year revenue to grow to 47.77M, representing a 158.60% jump on that reported in the last financial year.
Turning to the stock’s technical picture we see that short term indicators suggest on average that CYTK is a 50% Sell. On the other hand, the stock is on average a 50% Sell as suggested by medium term indicators while long term indicators are putting the stock in 100% Sell category.
12 analyst(s) have given their forecast ratings for the stock on a scale of 1.00-5.00 for a strong buy to strong sell recommendation. A total of 1 analyst(s) rate the stock as a Hold, 11 recommend CYTK as a Buy and 0 give it an Overweight rating. Meanwhile, 0 analyst(s) rate the stock as Underweight and 0 say it is a Sell. As such, the average rating for the stock is Buy which could provide an opportunity for investors keen on increasing their holdings of the company’s stock.
CYTK’s current price about 1.78% and 0.21% off the 20-day and 50-day simple moving averages respectively. The Relative Strength Index (RSI, 14) currently prints 51.11, while 7-day volatility ratio is 4.90% and 5.69% in the 30-day chart. Further, Cytokinetics Inc (CYTK) has a beta value of 0.95, and an average true range (ATR) of 2.51. Analysts have given the company’s stock an average 52-week price target of $90, forecast between a low of $60 and high of $120. Looking at the price targets, the low is -26.45% off current price level while to achieve the yearly target high, price needs to move -152.9%. Nonetheless, investors will most likely welcome a -89.67% jump to $90 which is the analysts’ median price.
If we refocus on Cytokinetics Inc (NASDAQ:CYTK), historical trading data shows that trading volumes averaged 1.40 million over the past 3 months. The company’s latest data on shares outstanding shows there are 117.89 million shares.
The 2.57% of Cytokinetics Inc’s shares are in the hands of company insiders while institutional holders own 110.25% of the company’s shares. Current price change has pushed the stock 0.87% YTD, which shows the potential for further growth is there. It is this reason that could see investor optimism for the CYTK stock continues to rise going into the next quarter.
