Cytokinetics price target lowered to $53 from $71 at JPMorgan

JPMorgan analyst Tessa Romero lowered the firm’s price target on Cytokinetics (CYTK) to $53 from $71 and keeps an Overweight rating on the shares. The firm revisited its revenue forecasts for aficamten and launch trajectory to be more gradual given recent management commentary that the Camzyos launch is a realistic cadence for an obstructive hypertrophic cardiomyopathy launch. The analyst thinks the label will be the deciding factor in helping investors and physicians think about the drub’s potential adoption. JPMorgan continues to believe aficamten is a “really good drug” for the treatment of obstructive hypertrophic cardiomyopathy with a differentiated profile relative to Camzyos, specifically when it comes to dosing, safety and pharmacology. The data to date support approval, it contends.