Want to see CYTK full AI Analyst Report?
Top Page
Cytokinetics
(NASDAQ:CYTK)
Select Model
Select Model
Rating:49Neutral
Price Target:
$74.00
▼(-8.35% Downside)
Action:Reiterated
Date:08/17/26
The score is held down primarily by weak financial performance (large ongoing losses, heavy cash burn, negative equity and high debt) and soft technical momentum (below key moving averages with negative MACD). These are partially offset by a more positive operational trajectory from the earnings call—early commercial traction, pivotal clinical data, and a materially improved cash position—while valuation remains constrained by negative earnings and corporate events add some legal overhang.
Positive Factors
MYQORZO Launch Traction
Rapid growth in MYQORZO dispenses, prescribers and new-to-brand share indicates meaningful early demand. Continued adoption could establish a recurring commercial revenue base and validate Cytokinetics’ ability to commercialize specialized cardiovascular medicines.
Negative Factors
Heavy Cash Burn
Large recurring operating outflows mean Cytokinetics is not yet self-funding and must rely on cash reserves, partnerships or capital markets. Sustained investment in launches and trials could consume liquidity quickly if product revenue scales slowly.
Read all positive and negative factors
Positive Factors
Negative Factors
MYQORZO Launch Traction
Rapid growth in MYQORZO dispenses, prescribers and new-to-brand share indicates meaningful early demand. Continued adoption could establish a recurring commercial revenue base and validate Cytokinetics’ ability to commercialize specialized cardiovascular medicines.
Read all positive factors
Cytokinetics Key Performance Indicators (KPIs)
Any
Revenue by Segment
Highlights revenue contributions from different business segments, providing insight into which areas drive growth and how diversified the company’s income streams are.
Highlights revenue contributions from different business segments, providing insight into which areas drive growth and how diversified the company’s income streams are.
Data provided by:
The Fly
The FlyCytokinetics (CYTK) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$10.72B
Dividend YieldN/A
Average Volume (3M)2.19M
Price to Earnings (P/E)―
Beta (1Y)0.90
Revenue Growth-21.07%
EPS Growth-41.03%
CountryUS
Employees673
SectorHealthcare
Sector Strength45
IndustryBiotechnology
Share Statistics
EPS (TTM)-7.21
Shares Outstanding139,023,420
10 Day Avg. Volume1,513,183
30 Day Avg. Volume2,192,944
Financial Highlights & Ratios
PEG Ratio-0.40
Price to Book (P/B)-11.56
Price to Sales (P/S)86.62
P/FCF Ratio-14.26
Enterprise Value/Market Cap<0.01
Enterprise Value/Revenue<0.01
Enterprise Value/Gross Profit<0.01
Enterprise Value/Ebitda>-0.01
Forecast
1Y Price Target
$111.80Price Target Upside38.47% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering17
EPS Forecast (FY)-6.09
Revenue Forecast (FY)$145.11M
Cytokinetics Business Overview & Revenue Model
Company Description
Cytokinetics, Incorporated, a biopharmaceutical company, focuses on discovering, developing, and commercializing novel muscle activators and muscle inhibitors as potential treatments for debilitating diseases in the United States. The company mark...
How the Company Makes Money
Cytokinetics primarily makes money through (1) collaboration and licensing arrangements with larger pharmaceutical partners and (2) product sales when/if its drug candidates receive regulatory approval and are commercialized. Historically, a signi...
Cytokinetics Earnings Call Summary
Earnings Call Date:Aug 06, 2026
(Q2-2026)
| % Change Since: |
Next Earnings Date:Oct 29, 2026
Earnings Call Sentiment Positive
The call conveyed substantial operational and clinical progress: strong early commercial momentum for MYQORZO (rapidly growing prescriptions, rising awareness, >700 prescribers and >1,500 dispensed patients), pivotal ACACIA-HCM positive results with planned sNDA submission, successful European regulatory steps and a $760M financing that boosted cash to ~$1.7B. These strategic and scientific achievements were balanced against near-term financial headwinds including a YOY revenue decline driven by absence of milestone revenue, a wider GAAP net loss ($198.8M), sharply higher SG&A tied to launch costs and upwardly revised 2026 expense guidance. Overall, the operational wins, pivotal data and strong cash position indicate a constructive outlook for growth and future approvals, though investors should expect continued elevated spending as the company scales commercialization and pursues regulatory filings.Positive Updates
MYQORZO Commercial Launch Momentum
Strong early launch with net product revenues of $25.3M in Q2 2026 (U.S. $23.0M; Europe $2.3M). MYQORZO dispensed to ~1,500 patients by end of Q2 (up from ~400 dispensed at end of Q1), nearly tripling dispensed patients quarter-over-quarter. Internal Q2 exit new-to-brand share >40% and new-to-brand prescription growth accelerated (Q1 +24% and Q2 +15% vs prior single-digit growth when only one CMI was available).
Negative Updates
Year-over-Year Revenue Decline
Total revenues fell to $28.6M in Q2 2026 from $66.8M in Q2 2025, a decrease of approximately 57% YOY, primarily due to no licensing or milestone revenues in Q2 2026 vs $64.4M in Q2 2025 (milestone from Bayer collaboration).
Read all updates
Q2-2026 Updates
Positive
Negative
MYQORZO Commercial Launch Momentum
Strong early launch with net product revenues of $25.3M in Q2 2026 (U.S. $23.0M; Europe $2.3M). MYQORZO dispensed to ~1,500 patients by end of Q2 (up from ~400 dispensed at end of Q1), nearly tripling dispensed patients quarter-over-quarter. Internal Q2 exit new-to-brand share >40% and new-to-brand prescription growth accelerated (Q1 +24% and Q2 +15% vs prior single-digit growth when only one CMI was available).
Read all positive updates
Company Guidance
On the call Cytokinetics updated full‑year 2026 financial guidance, raising GAAP combined R&D and SG&A to $860–$890 million (from $830–$870M) with stock‑based compensation now forecast at $130–$140 million (up from $120–$130M); excluding SBC the combined range is $720–$760M. They closed Q2 with ~ $1.7 billion in cash and investments (vs. $1.1B at Q1) after a May public offering that generated ~ $760M net proceeds, and reiterated commercial milestones including an sNDA submission for aficamten in nHCM planned for Q4 2026 and a MAPLE‑HCM sNDA PDUFA date of November 14, 2026. Operational access targets include preparing a UK launch in Q4, pursuing broader European rollouts (additional launches into early 2027), and achieving payer parity by year‑end 2026 (nearly 90% Medicare parity today; >50% commercial coverage now). They also guided clinical program timing: continued COMET enrollment through 2026, completion of AMBER‑HFpEF Cohort 1 enrollment in H2 2026, ongoing CEDAR adolescent cohort work, and potential Health Canada action in H2 2026.Cytokinetics Financial Statement Overview
Summary
Income Statement
24
Negative
Balance Sheet
18
Very Negative
Cash Flow
22
Negative
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 70.96M | 88.04M | 18.47M | 7.53M | 94.59M | 70.43M |
| Gross Profit | 60.30M | 77.91M | -320.93M | -322.59M | -146.22M | -89.51M |
| EBITDA | -818.60M | -775.27M | -493.48M | -456.68M | -329.40M | -176.34M |
| Net Income | -894.00M | -784.96M | -589.53M | -526.24M | -388.95M | -215.31M |
Balance Sheet | ||||||
| Total Assets | 1.92B | 1.42B | 1.40B | 824.32M | 1.01B | 841.32M |
| Cash, Cash Equivalents and Short-Term Investments | 1.17B | 882.22M | 1.08B | 614.82M | 782.58M | 471.64M |
| Total Debt | 1.27B | 1.28B | 788.68M | 755.77M | 750.30M | 269.93M |
| Total Liabilities | 2.10B | 2.08B | 1.54B | 1.21B | 1.12B | 597.46M |
| Stockholders Equity | -173.49M | -659.63M | -135.37M | -386.32M | -107.90M | 243.86M |
Cash Flow | ||||||
| Free Cash Flow | -580.71M | -534.82M | -399.80M | -415.75M | -310.85M | -191.39M |
| Operating Cash Flow | -555.45M | -510.01M | -395.89M | -414.33M | -299.52M | -142.52M |
| Investing Cash Flow | -503.68M | 16.67M | -553.10M | 239.25M | -262.13M | -147.78M |
| Financing Cash Flow | 1.24B | 524.46M | 930.61M | 221.32M | 516.17M | 319.98M |
Cytokinetics Technical Analysis
Positive
80.74
Price Trends
79.88
Negative
75.00
Positive
69.38
Positive
Market Momentum
-0.76
Negative
48.94
Neutral
78.23
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For CYTK, the sentiment is Positive. The current price of 80.74 is above the 20-day moving average (MA) of 77.17, above the 50-day MA of 79.88, and above the 200-day MA of 69.38, indicating a neutral trend. The MACD of -0.76 indicates Negative momentum. The RSI at 48.94 is Neutral, neither overbought nor oversold. The STOCH value of 78.23 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for CYTK.
Cytokinetics Risk Analysis
Cytokinetics disclosed 35 risk factors in its most recent earnings report. Cytokinetics reported the most risks in the "Legal & Regulatory" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Cytokinetics Peers Comparison
UnderperformOutperform
Sector (51)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
56 Neutral | $7.67B | -35.83 | -80.48% | ― | 53.51% | -3.31% | |
52 Neutral | $4.06B | -41.88 | -8.70% | ― | 59.59% | 71.96% | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% | |
50 Neutral | $10.76B | -54.79 | -255.60% | ― | 56.87% | 25.87% | |
50 Neutral | $232.98M | -3.54 | -39.08% | ― | ― | ― | |
49 Neutral | $10.72B | -10.69 | 163.98% | ― | -21.07% | -41.03% |
* Healthcare Sector Average
CYTK
Cytokinetics
77.46
39.27
102.83%
AXSM
Axsome Therapeutics
205.48
84.33
69.61%
RYTM
Rhythm Pharmaceuticals
113.35
12.15
12.01%
LEGN
Legend Biotech
21.30
-13.78
-39.28%
RNA
Atrium Therapeutics, Inc.
14.00
-0.75
-5.08%
Cytokinetics Corporate Events
Business Operations and StrategyLegal Proceedings
Cytokinetics Files Patent Suit to Protect MYQORZO Franchise
Negative
Aug 13, 2026
On August 13, 2026, Cytokinetics filed a complaint in the U.S. District Court for the District of Delaware against Bristol-Myers Squibb and MyoKardia, seeking a declaratory judgment that it does not infringe U.S. Patent No. 12,616,697 and that the...
Business Operations and StrategyExecutive/Board ChangesShareholder Meetings
Cytokinetics Shareholders Reinforce Board and Governance Frameworks
Positive
May 27, 2026
At Cytokinetics’ Annual Meeting of Stockholders held on May 27, 2026, shareholders elected Edward M. Kaye, M.D., Wendell Wierenga, Ph.D., and Nancy J. Wysenski as Class I directors for three-year terms, with more than 93% of eligible shares ...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.