Roanna Ruiz, an analyst from Leerink Partners, reiterated the Buy rating on Cytokinetics. The associated price target is $57.00.
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Roanna Ruiz’s rating is based on several compelling factors that highlight Cytokinetics’ promising outlook. The company has made significant strides in advancing the commercial readiness of aficamten, with a late-cycle FDA meeting scheduled for September, aligning with the PDUFA extension to December 2025. This progress is crucial as it indicates the company’s preparedness and potential for regulatory approval, which could enhance its market position.
Additionally, the upcoming presentation of MAPLE-HCM data at the European Society of Cardiology is expected to support the use of cardiac Myosin inhibitors in treating obstructive HCM, potentially altering treatment guidelines. The company’s financial health is also robust, with a substantial cash reserve and maintained operating expense guidance for 2025. These factors, combined with management’s confidence in aficamten’s differentiated properties and market potential, underpin Ruiz’s Buy rating for Cytokinetics.
In another report released on August 8, Needham also maintained a Buy rating on the stock with a $72.00 price target.
CYTK’s price has also changed moderately for the past six months – from $41.560 to $33.230, which is a -20.04% drop .