Cytokinetics price target raised to $88 from $78 at Citizens

Citizens analyst Jason Butler raised the firm’s price target on Cytokinetics (CYTK) to $88 from $78 and keeps an Outperform rating on the shares. FDA approval of MYQORZO for obstructive hypertrophic cardiomyopathy supports raising approval probability to 100% in the U.S. and EU and rolling forward the valuation year, the analyst tells investors in a research note. The differentiated label and REMS versus CAMZYOS, launch readiness, and access to an additional $175M from the Royalty Pharma agreement further strengthen the outlook, Citizens says.