Cytokinetics price target raised to $105 from $95 at Wells Fargo

Wells Fargo raised the firm’s price target on Cytokinetics (CYTK) to $105 from $95 and keeps an Overweight rating on the shares. The firm notes Q1 Myqorzo sales suggest strong uptake in initial 9 weeks of launch, especially with community cardiologists by Wells’ estimate, highlighting advantage of differentiated Risk Evaluation and Mitigation Strategy. The firm expects continued momentum in obstructive hypertrophic cardiomyopathy and sees synergy with non-obstructive hypertrophic cardiomyopathy after ACACIA success.