Cytokinetics price target raised to $95 from $87 at Barclays

Barclays analyst Emily Field raised the firm’s price target on Cytokinetics (CYTK) to $95 from $87 and keeps an Overweight rating on the shares. The firm says the company’s Phase 3 ACACIA-HCM data for Myqorzo in non-obstructive hypertrophic cardiomyopathy will be decisive for label expansion and likely have a “halo effect” on the obstructive hypertrophic cardiomyopathy launch. Barclays continues to see a high probability of a positive outcome. The Phase readout will determine whether aficamten will have the potential to double its suite of addressable patients, the analyst tells investors in a research note.