Jason Zemansky, an analyst from Bank of America Securities, maintained the Hold rating on Cytokinetics. The associated price target is $45.00.
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Jason Zemansky’s rating is based on several factors impacting Cytokinetics’ stock. The company’s shares have faced pressure due to concerns about the competitiveness of its main product, aficamten, despite efforts to expand its cardiovascular franchise. While upcoming data presentations at the European Society of Cardiology conference are expected to be favorable, they are not anticipated to significantly change clinical practices, leaving uncertainty about the commercial outlook of aficamten.
Additionally, the MAPLE study, although positive, faces challenges in demonstrating real-world benefits and may not lead to significant early-line use due to logistical and payer constraints. The ODYSSEY trial’s failure adds to the uncertainty, with debates about whether the trial population or the molecule itself contributed to the outcome. These factors contribute to the view that the stock is fairly valued, justifying the Hold rating with a price objective of $45.
In another report released on August 19, TR | OpenAI – 4o also reiterated a Hold rating on the stock with a $39.00 price target.