tiprankstipranks
Trending News
More News >
Advertisement
Advertisement

Promising Data from HFSA and Long-term Efficacy of Aficamten Lead to Buy Rating for Cytokinetics

Promising Data from HFSA and Long-term Efficacy of Aficamten Lead to Buy Rating for Cytokinetics

Cytokinetics, the Healthcare sector company, was revisited by a Wall Street analyst yesterday. Analyst Maxwell Skor from Morgan Stanley maintained a Buy rating on the stock and has a $65.00 price target.

Elevate Your Investing Strategy:

  • Take advantage of TipRanks Premium at 55% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.

Maxwell Skor has given his Buy rating due to a combination of factors related to the promising data presented at the HFSA Annual Scientific Meeting. The additional analyses from the MAPLE-HCM study demonstrated that aficamten significantly enhances both maximal and submaximal exercise capacity and recovery when compared to metoprolol. These improvements were evident in various measures such as anaerobic threshold, aerobic efficiency, and ventilatory efficiency, as well as in key performance indicators like peak workload and heart rate reserve.
Furthermore, the long-term efficacy and tolerability of aficamten were reinforced by the 96-week results from the FOREST-HCM study, where a significant proportion of patients showed improvement in NYHA Functional Class and became asymptomatic. The positive impact on cardiac biomarkers and the manageable nature of any reductions in left ventricular ejection fraction further support the potential of aficamten. With the upcoming PDUFA date and anticipated ACACIA topline results, Skor sees a favorable outlook for Cytokinetics, contributing to his Buy rating.

In another report released today, Barclays also maintained a Buy rating on the stock with a $71.00 price target.

Based on the recent corporate insider activity of 145 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of CYTK in relation to earlier this year.

Disclaimer & DisclosureReport an Issue

1