Analyst Joseph Pantginis from H.C. Wainwright reiterated a Buy rating on Cytokinetics (CYTK – Research Report) and keeping the price target at $120.00.
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Joseph Pantginis has given his Buy rating due to a combination of factors, primarily revolving around Cytokinetics’ robust financial position and promising pipeline developments. The company reported a strong cash position of $1.1 billion, which provides a solid foundation for its ongoing and future projects. Additionally, the financial results for the first quarter of 2025 showed an EPS that was better than expected, aligning with consensus estimates.
Moreover, the potential of aficamten, a key drug in Cytokinetics’ pipeline, plays a significant role in the Buy rating. The drug is poised to achieve several regulatory, clinical, and commercial milestones in 2025, with important data readouts expected soon. The upcoming Phase 3 MAPLE-HCM data is particularly anticipated, as positive results could lead to aficamten’s inclusion in revised HCM treatment guidelines. The company’s readiness for commercial activities in the U.S. and Europe further supports the positive outlook, as does the progress in additional clinical trials aimed at expanding aficamten’s label.
In another report released yesterday, Citi also maintained a Buy rating on the stock with a $80.00 price target.
CYTK’s price has also changed moderately for the past six months – from $55.500 to $33.970, which is a -38.79% drop .