Cytokinetics (CYTK) AI Stock Analysis

• Market Cap: $7.72B
• Dividend Yield: N/A
• Average Volume (3M): 1.97M
• Price to Earnings (P/E): ―
• Beta (1Y): 0.74
• Revenue Growth: 2609.26%
• EPS Growth: -17.08%
• Country: US
• Employees: 498
• Sector: Healthcare
• Sector Strength: 45
• Industry: Biotechnology
• EPS (TTM): -2.55
• Shares Outstanding: 122,264,930
• 10 Day Avg. Volume: 2,472,225
• 30 Day Avg. Volume: 1,970,553
• PEG Ratio: 2.56
• Price to Book (P/B): -38.91
• Price to Sales (P/S): 285.13
• P/FCF Ratio: -13.18
• Enterprise Value/Market Cap: 0.88
• Enterprise Value/Revenue: 78.26
• Enterprise Value/Gross Profit: -61.37
• Enterprise Value/Ebitda: -10.56
• 1Y Price Target: $88.00
• Price Target Upside: 39.44% Upside
• Rating Consensus: Strong Buy
• Number of Analyst Covering: 17
• EPS Forecast (FY): -6.35
• Revenue Forecast (FY): $80.11M

• Rating: 57 Neutral
• Price Target: $65.00 ▲(2.99% Upside)

Cytokinetics' overall score reflects significant financial challenges and valuation concerns, offset by positive corporate events and potential growth from recent FDA approval. The technical analysis suggests neutral momentum, while the earnings call indicates progress but also highlights financial and regulatory risks.

Positive Factors

FDA Approval of MYQORZO

The FDA approval of MYQORZO for oHCM enhances Cytokinetics' market position and provides a new revenue stream, supporting long-term growth.

Strong Financial Position

A robust cash position provides Cytokinetics with the financial flexibility to invest in R&D and commercialization efforts, supporting sustainable growth.

European Expansion Plans

Expansion into the European market with aficamten could significantly increase Cytokinetics' market reach and revenue potential over the long term.

Negative Factors

High Leverage

High leverage and negative equity pose risks to financial stability, potentially limiting Cytokinetics' ability to meet obligations and invest in growth.

Negative Profitability

Persistent negative profitability indicates operational challenges, which could hinder long-term financial health and require strategic adjustments.

Pending Regulatory Approvals

Pending regulatory approvals create uncertainty in market penetration and revenue realization, impacting strategic planning and investor confidence.

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

Cytokinetics faces significant financial challenges, with negative profitability and high leverage. Despite revenue growth, the company struggles with high costs and negative cash flows, indicating financial instability.

Income Statement

Cytokinetics has experienced significant revenue growth in recent periods, but it remains unprofitable with negative margins across the board. The gross profit margin and net profit margin are deeply negative, indicating high costs relative to revenue. The EBIT and EBITDA margins are also negative, reflecting ongoing operational challenges.

Balance Sheet

The balance sheet shows a concerning level of leverage, with a negative debt-to-equity ratio due to negative stockholders' equity. This indicates financial instability and potential risk in meeting debt obligations. The return on equity is positive but misleading due to negative equity, and the equity ratio is not favorable.

Cash Flow

Cytokinetics has negative operating and free cash flows, although there is some growth in free cash flow. The operating cash flow to net income ratio is negative, indicating cash flow challenges. The free cash flow to net income ratio is slightly positive, suggesting some alignment between cash flow and reported earnings.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	87.21M	18.47M	7.53M	94.59M	70.43M	55.83M
Gross Profit	-111.22M	-320.93M	-322.59M	-146.22M	-89.51M	-41.12M
EBITDA	-646.17M	-493.48M	-456.68M	-329.40M	-176.34M	-86.78M
Net Income	-751.94M	-589.53M	-526.24M	-388.95M	-215.31M	-127.29M
Balance Sheet
Total Assets	1.44B	1.40B	824.32M	1.01B	841.32M	533.80M
Cash, Cash Equivalents and Short-Term Investments	962.53M	1.08B	614.82M	782.58M	471.64M	464.06M
Total Debt	1.20B	788.68M	755.77M	750.30M	269.93M	138.94M
Total Liabilities	1.96B	1.54B	1.21B	1.12B	597.46M	420.42M
Stockholders Equity	-521.12M	-135.37M	-386.32M	-107.90M	243.86M	113.38M
Cash Flow
Free Cash Flow	-453.38M	-399.80M	-415.75M	-310.85M	-191.39M	-2.11M
Operating Cash Flow	-432.93M	-395.89M	-414.33M	-299.52M	-142.52M	8.94M
Investing Cash Flow	198.72M	-553.10M	239.25M	-262.13M	-147.78M	-196.51M
Financing Cash Flow	416.14M	930.61M	221.32M	516.17M	319.98M	234.12M

Cytokinetics Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 63.11
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Positive
• RSI: Neutral
• STOCH: 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 63.11 is below the 20-day moving average (MA) of 63.49, above the 50-day MA of 62.80, and above the 200-day MA of 45.79, indicating a neutral trend. The MACD of <0.01 indicates Positive momentum. The RSI at 49.77 is Neutral, neither overbought nor oversold. The STOCH value of 35.80 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for CYTK.

Cytokinetics Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
RNA	62 Neutral	$10.87B	-17.30	-32.44%	―	106.27%	-43.90%
RYTM	59 Neutral	$7.34B	-35.45	-240.36%	―	54.92%	28.47%
CYTK	57 Neutral	$7.72B	-10.00	―	―	2609.26%	-17.08%
AXSM	57 Neutral	$7.67B	-32.54	-275.50%	―	65.83%	28.50%
Sector *	51 Neutral	$7.86B	-0.30	-43.30%	2.27%	22.53%	-2.21%
LEGN	46 Neutral	$4.16B	-17.25	-22.60%	―	74.91%	31.54%
NUVL	43 Neutral	$7.57B	-19.58	-38.79%	―	―	-52.84%

Cytokinetics Corporate Events

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.

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.

Cytokinetics Appoints New Executive VP and CLO

On November 13, 2025, Cytokinetics announced the appointment of Jeffrey J. Hessekiel as Executive Vice President, Chief Legal and Administrative Officer, effective November 14, 2025. Mr. Hessekiel brings extensive legal and compliance experience from his previous roles at Exelixis, Arnold & Porter LLP, and Gilead Sciences, Inc. His compensation package includes a base salary of $660,000, a signing bonus, and an equity award, reflecting the company’s strategic focus on strengthening its leadership team to enhance its market position.