Cytokinetics (CYTK) AI Stock Analysis

• Market Cap: $8.57B
• Dividend Yield: N/A
• Average Volume (3M): 1.51M
• Price to Earnings (P/E): ―
• Beta (1Y): 0.85
• Revenue Growth: 2609.26%
• EPS Growth: -17.08%
• Country: US
• Employees: 498
• Sector: Healthcare
• Sector Strength: 45
• Industry: Biotechnology
• EPS (TTM): -1.50
• Shares Outstanding: 122,264,930
• 10 Day Avg. Volume: 1,568,596
• 30 Day Avg. Volume: 1,507,869
• 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: 1.01
• Enterprise Value/Revenue: 98.37
• Enterprise Value/Gross Profit: -516.56
• Enterprise Value/Ebitda: -12.43
• 1Y Price Target: $93.15
• Price Target Upside: 48.12% Upside
• Rating Consensus: Strong Buy
• Number of Analyst Covering: 17
• EPS Forecast (FY): -6.13
• Revenue Forecast (FY): $114.14M

• Rating: 50 Neutral
• Price Target: $63.00 ▲(0.17% Upside)
• Action: Reiterated Date: 02/27/26
• Date: Action: Reiterated 02/27/26

The score is held back primarily by weak financial fundamentals—large ongoing losses, heavy cash burn, and a pressured balance sheet with negative equity and higher debt. The latest earnings call adds support via major approvals, early launch traction signals, and a substantial cash position, but uncertainty remains due to rising costs and lack of product-sales guidance. Technicals are mixed, and valuation is difficult to anchor given negative earnings.

Positive Factors

Regulatory approvals & global commercial transition

Multiple major approvals (U.S., China, CHMP positive and EC approval) convert Cytokinetics into a global commercial-stage company. This structural shift expands addressable markets, supports a multi-region revenue base, and materially changes the firm’s long-term operating profile from pure R&D to commercial execution.

Early U.S. commercial launch traction

Rapid REMS certification and high HCP engagement show the commercial organization is operational and engaging targeted prescribers. Durable adoption among high-prescribers and strong early engagement improve odds of sustainable prescribing patterns, payer conversations, and repeat prescriptions beyond the initial launch window.

Robust cash buffer entering commercial phase

A sizable cash and investment balance provides a multi-month runway to fund product launch, build commercial infrastructure, and advance clinical programs. Even with a loan draw included, this liquidity materially reduces immediate dilution and refinancing pressure while the company scales sales and pursues label-expansion and international rollouts.

Negative Factors

Persistent negative operating cash flow

Consistent, large negative operating and free cash flow indicate the business remains cash-consuming despite revenue progress. Over the medium term this necessitates continued external funding or material product-sales growth; otherwise financing needs will increase dilution risk and constrain strategic flexibility.

High leverage and negative shareholders’ equity

Elevated debt combined with negative equity reflects accumulated losses and tight capital structure. This reduces balance-sheet flexibility, raises refinancing and covenant risk, and can increase the cost of future capital, limiting the company’s ability to invest aggressively or withstand slower-than-expected commercial uptake.

Rising costs, widening losses & no product-sales guidance

Management provided no MYCorzo product-sales guidance while R&D and G&A are rising and net losses widened. This combination creates structural forecasting uncertainty for revenue and cash burn, complicating planning for payers and investors and increasing the likelihood of further financing if sales growth lags expectations.

Cytokinetics Business Overview & Revenue Model

Company Description

Cytokinetics, Incorporated, a late-stage biopharmaceutical company, focuses on discovering, developing, and commercializing muscle activators and inhibitors as potential treatments for debilitating diseases. The company develops small molecule drug candidates primarily engineered to impact muscle function and contractility. Its drug candidates include omecamtiv mecarbil, a novel cardiac myosin activator that is in Phase III clinical trial in patients with heart failure; and reldesemtiv, a skeletal muscle troponin activator, which is in Phase III clinical trial to treat amyotrophic lateral sclerosis and spinal muscular atrophy. The company also develops CK-136, a novel cardiac troponin activator that is in Phase I clinical trial; aficamten, a novel cardiac myosin inhibitor, which is in Phase III clinical trial for the treatment of patients with symptomatic obstructive hypertrophic cardiomyopathy; and CK-3772271, a small molecule cardiac myosin inhibitor that is in Phase I clinical trial. Cytokinetics, Incorporated has a strategic alliance with Astellas Pharma Inc. The company was incorporated in 1997 and is headquartered in South San Francisco, California.

How the Company Makes Money

Cytokinetics generates revenue primarily through the development of its drug candidates, which may include licensing agreements, collaboration deals, and partnerships with larger pharmaceutical companies. The company may receive milestone payments and royalties from these collaborations, particularly if their clinical trials lead to successful product approvals. Additionally, Cytokinetics may generate revenue through grants and government funding for research and development. The company's financial performance is closely tied to the progress of its clinical trials and the commercialization of its therapeutic products.

Cytokinetics Financial Statement Overview

Summary

Revenue rose sharply in 2025 ($88.0M vs. $18.5M), but profitability and cash generation remain very weak (FY net loss ~$785M; operating cash flow ~$-510M; FCF ~$-534.8M). Balance sheet risk is elevated with rising debt (~$1.28B) and negative shareholders’ equity (~-$659.6M), implying continued reliance on external funding.

Income Statement

Revenue has ramped meaningfully in the most recent year (2025 annual revenue $88.0M vs. $18.5M in 2024), showing improved commercial/partner traction. However, profitability remains very weak: 2025 net loss was roughly $785.0M with deeply negative operating results, indicating a cost base that far outweighs current revenue. Margins are still heavily negative, and the earnings profile is highly dependent on continued funding and future pipeline success.

Balance Sheet

Leverage and capital structure are the key concerns. Total debt rose to about $1.28B in 2025 while shareholders’ equity is negative (about -$659.6M), which reduces financial flexibility and increases reliance on external capital. Total assets are sizable (~$1.42B), but the negative equity position signals accumulated losses and a more fragile balance-sheet footing despite the larger asset base.

Cash Flow

Cash consumption is heavy and persistent: operating cash flow was about -$510.0M and free cash flow about -$534.8M in 2025, consistent with a business still funding development rather than generating cash. Free cash flow tracked net losses closely (free cash flow to net income ~1.05 in 2025), suggesting losses are largely cash-backed rather than purely accounting-driven. While the company has shown periods of improvement in free cash flow growth, the absolute burn rate remains a clear risk.

Breakdown	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	88.04M	18.47M	7.53M	94.59M	70.43M
Gross Profit	88.04M	-320.93M	-322.59M	-146.22M	-89.51M
EBITDA	-602.57M	-493.48M	-456.68M	-329.40M	-176.34M
Net Income	-784.96M	-589.53M	-526.24M	-388.95M	-215.31M
Balance Sheet
Total Assets	1.42B	1.40B	824.32M	1.01B	841.32M
Cash, Cash Equivalents and Short-Term Investments	882.22M	1.08B	614.82M	782.58M	471.64M
Total Debt	1.28B	788.68M	755.77M	750.30M	269.93M
Total Liabilities	2.08B	1.54B	1.21B	1.12B	597.46M
Stockholders Equity	-659.63M	-135.37M	-386.32M	-107.90M	243.86M
Cash Flow
Free Cash Flow	-534.82M	-399.80M	-415.75M	-310.85M	-191.39M
Operating Cash Flow	-510.01M	-395.89M	-414.33M	-299.52M	-142.52M
Investing Cash Flow	16.67M	-553.10M	239.25M	-262.13M	-147.78M
Financing Cash Flow	524.46M	930.61M	221.32M	516.17M	319.98M

Cytokinetics Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 62.89
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Positive
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For CYTK, the sentiment is Negative. The current price of 62.89 is below the 20-day moving average (MA) of 65.34, below the 50-day MA of 64.03, and above the 200-day MA of 50.64, indicating a neutral trend. The MACD of 0.91 indicates Negative momentum. The RSI at 44.25 is Neutral, neither overbought nor oversold. The STOCH value of 64.01 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for CYTK.

Cytokinetics Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
RNA	63 Neutral	$11.29B	-14.67	-32.44%	―	106.27%	-43.90%
NUVL	54 Neutral	$7.63B	-19.66	-38.79%	―	―	-52.84%
AXSM	52 Neutral	$8.69B	-44.45	-252.11%	―	65.83%	28.50%
Sector *	51 Neutral	$7.86B	-0.30	-43.30%	2.27%	22.53%	-2.21%
CYTK	50 Neutral	$8.57B	-9.63	―	―	2609.26%	-17.08%
RYTM	50 Neutral	$6.58B	-31.95	-240.36%	―	54.92%	28.47%
LEGN	50 Neutral	$3.60B	-15.10	-22.60%	―	74.91%	31.54%

Cytokinetics Corporate Events

Cytokinetics Wins European Approval for MYQORZO in HCM

Cytokinetics, Incorporated announced that the European Commission has approved MYQORZO (aficamten) tablets in 5 mg, 10 mg, 15 mg and 20 mg doses for the treatment of symptomatic obstructive hypertrophic cardiomyopathy in adult patients classified as NYHA class II-III. MYQORZO, an allosteric and reversible inhibitor of cardiac myosin motor activity, now gains regulatory backing in Europe, potentially expanding Cytokinetics’ market presence in cardiovascular therapeutics and providing a new treatment option for patients with this form of heart disease.

The most recent analyst rating on (CYTK) stock is a Hold with a $66.00 price target. To see the full list of analyst forecasts on Cytokinetics stock, see the CYTK Stock Forecast page.

Cytokinetics Gains FDA Approval for MYQORZO in oHCM

On December 19, 2025, Cytokinetics announced that the U.S. Food and Drug Administration approved MYQORZO (aficamten) tablets in multiple strengths for the treatment of adults with symptomatic obstructive hypertrophic cardiomyopathy to improve functional capacity and symptoms. MYQORZO, an allosteric and reversible inhibitor of cardiac myosin motor activity, works by reducing cardiac contractility and left ventricular outflow tract obstruction in oHCM patients, marking a significant commercial and clinical milestone that strengthens Cytokinetics’ position in the cardiovascular therapeutics market and expands treatment options for patients with this serious cardiac condition.

The most recent analyst rating on (CYTK) stock is a Buy with a $95.00 price target. To see the full list of analyst forecasts on Cytokinetics stock, see the CYTK Stock Forecast page.

Cytokinetics Receives EU Recommendation for MYQORZO®

On December 12, 2025, Cytokinetics announced that the European Medicines Agency’s Committee for Medicinal Products for Human Use has recommended marketing authorization for MYQORZO® (aficamten) in the EU. This cardiac myosin inhibitor is intended for treating symptomatic obstructive hypertrophic cardiomyopathy in adults, with a final decision expected from the European Commission in early 2026.

The most recent analyst rating on (CYTK) stock is a Buy with a $72.00 price target. To see the full list of analyst forecasts on Cytokinetics stock, see the CYTK Stock Forecast page.