Cytokinetics price target raised to $87 from $82 at Barclays

Barclays raised the firm’s price target on Cytokinetics (CYTK) to $87 from $82 and keeps an Overweight rating on the shares. The firm says Myqorzo received FDA approval in obstructive hypertrophic cardiomyopathy a week ahead of the FDA action date. The label was largely in line with expectations, with flexibility of rapid titration, the analyst tells investors in a research note. Barclays continues to view Myqorzo as the preferred drug over Camzyos.