Cytokinetics price target raised to $52 from $45 at BofA

BofA raised the firm’s price target on Cytokinetics (CYTK) to $52 from $45 and keeps a Neutral rating on the shares. The ESC conference “was a win for the company,” headlined by MAPLE trial data for aficamten, the analyst tells investors. However, while the firm doesn’t disagree with the view that aficamten has “solid clinical value,” practical headwinds are already slowing uptake in advanced patients for drugs in its class, so the firm says it is “challenging for us to forecast much early-line use.”