Joseph Pantginis, an analyst from H.C. Wainwright, reiterated the Buy rating on Cytokinetics (CYTK – Research Report). The associated price target remains the same with $120.00.
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Joseph Pantginis has given his Buy rating due to a combination of factors including the promising results from Cytokinetics’ Phase 3 MAPLE-HCM clinical trial. The trial demonstrated that aficamten monotherapy significantly improved peak oxygen uptake in patients with obstructive hypertrophic cardiomyopathy (oHCM) compared to the standard of care, metoprolol. This improvement in exercise capacity, along with a favorable safety and tolerability profile, suggests that aficamten could become a first-line treatment option for oHCM patients.
Furthermore, the trial’s success in meeting its primary endpoint at week 24 reinforces the potential of aficamten as a superior alternative to existing treatments. The anticipation of full results at an upcoming medical conference adds to the positive outlook for Cytokinetics. These factors collectively support Pantginis’s confidence in the company’s stock, leading to the Buy rating.
According to TipRanks, Pantginis is an analyst with an average return of -22.1% and a 24.47% success rate. Pantginis covers the Healthcare sector, focusing on stocks such as Cytokinetics, Actinium Pharmaceuticals, and Viking Therapeutics.
In another report released on May 8, Morgan Stanley also maintained a Buy rating on the stock with a $65.00 price target.