Cytokinetics (CYTK) was Reiterated by Needham to “Buy” according to the research note released today. The brokerage firm has raised the Price Target to $ 17 from a previous price target of $15 . Needham advised their investors in a research report released on Jul 28, 2016.
Cytokinetics closed down -0.41 points or -3.96% at $9.95 with 3,62,560 shares getting traded on Thursday. Post opening the session at $10.38, the shares hit an intraday low of $9.91 and an intraday high of $10.52 and the price fluctuated in this range throughout the day.Shares ended Thursday session in Red.
In a different news, on Sep 1, 2015, L Patrick Gage (director) purchased 1,000 shares at $6.95 per share price. According to the SEC, on Mar 13, 2015, Andrew A Wolff (SVP & CMO) sold 21,875 shares at $7.81 per share price.
Cytokinetics Incorporated is a clinical stage biopharmaceutical company. The Company is focused on the discovery and development of small molecule therapeutics that modulate muscle function for the treatment of serious diseases and medical conditions. The Company’s drug candidates that are in clinical development are its skeletal muscle activators tirasemtiv and CK-2127107 and its cardiac muscle activator omecamtiv mecarbil. Tirasemtiv and CK-2127107 are structurally distinct and selective small molecules that activate the fast skeletal muscle troponin complex in the sarcomere by increasing its sensitivity to calcium leading to an increase in skeletal muscle contractility. COSMIC-HF (Chronic Oral Study of Myosin Activation to Increase Contractility in Heart Failure) is a Phase II clinical trial designed to assess the pharmacokinetics and tolerability of omecamtiv mecarbil dosed orally in patients with heart failure and left ventricular systolic dysfunction.