Cytokinetics Intrinsic Stock Value – Morgan Stanley Uplifts Cytokinetics Price Target, Adjusts Rating to Equal Weight
January 6, 2024
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Morgan Stanley has recently adjusted its rating of Cytokinetics ($NASDAQ:CYTK), Inc., a biopharmaceutical company, from “overweight” to “equal weight” but raised the price target. Cytokinetics, Inc. specializes in discovering, developing and commercializing muscle activators as potential treatments for debilitating diseases in which muscle performance is compromised and/or declining. The company conducts research and development activities in the United States and has collaborations with pharmaceutical partners in the United States, Europe, and Japan. The company is focused on developing small molecule therapeutics with an emphasis on muscle-related disorders.
Its lead product candidate, reldesemtiv, is a fast skeletal muscle activator (FSMA) currently being investigated in multiple clinical programs for the potential treatment of patients with amyotrophic lateral sclerosis (ALS) and other diseases and disorders. The company is also advancing omecamtiv mecarbil, an investigational cardiac myosin activator, which is currently in Phase 2 and 3 clinical trials for the potential treatment of chronic heart failure. As the company continues to progress on developing its products, investors may continue to see positive results for the stock price in the near future.
Share Price
On Friday, Morgan Stanley uplifted Cytokinetics‘ price target and adjusted its rating to Equal Weight. Following this news, the stock of Cytokinetics opened at $87.2 and closed at $93.7, a rise of 6.2% from the prior closing price of 88.2. This uplifted price target and rating adjustment of Cytokinetics has been well received by the market as the share prices have responded positively to this news. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Cytokinetics. More…
| Total Revenues | Net Income | Net Margin |
| 7.82 | -526.73 | -6740.0% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Cytokinetics. More…
| Operations | Investing | Financing |
| -438.49 | 349.91 | 82.4 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Cytokinetics. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 740.61 | 1.18k | -4.56 |
Key Ratios Snapshot
Some of the financial key ratios for Cytokinetics are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| -47.6% | – | -6012.2% |
| FCF Margin | ROE | ROA |
| -5669.0% | 76.1% | -39.7% |
Analysis – Cytokinetics Intrinsic Stock Value
At GoodWhale, we provide a comprehensive analysis of CYTOKINETICS’s financials. After performing our analysis, we have determined that the company’s intrinsic value is around $10.4, which can be seen in our proprietary Valuation Line. Currently, CYTOKINETICS shares are being traded at $93.7, which implies that the stock is significantly overvalued by a staggering 800.9%. Therefore, we recommend that investors exercise caution when investing in CYTOKINETICS at current market prices. Cytokinetics_Price_Target_Adjusts_Rating_to_Equal_Weight”>More…
Peers
The company’s main competitors are Rubius Therapeutics Inc, XSpray Pharma AB, and Proteo Inc.
– Rubius Therapeutics Inc ($NASDAQ:RUBY)
Rubius Therapeutics Inc is a clinical-stage biopharmaceutical company focused on the development of a new class of therapeutics called Red Cell Therapeutics (RCTs). RCTs are living medicines that are derived from red blood cells and have the potential to treat a wide range of diseases with a single administration. The company’s lead product candidate, RTX-134, is in development for the treatment of severe combined immunodeficiency (SCID), a rare and potentially fatal genetic disease. Rubius has completed a Phase 1/2 clinical trial of RTX-134 in SCID patients and is preparing for a Phase 3 clinical trial.
Rubius has a market capitalization of $31.69 million and a negative return on equity of 105.38%. The company’s lead product candidate, RTX-134, is in development for the treatment of severe combined immunodeficiency (SCID), a rare and potentially fatal genetic disease. Rubius has completed a Phase 1/2 clinical trial of RTX-134 in SCID patients and is preparing for a Phase 3 clinical trial.
– XSpray Pharma AB ($LTS:0GHZ)
Spray Pharma AB is a pharmaceutical company with a market cap of 1.28B as of 2022. The company has a Return on Equity of -12.71%. Spray Pharma AB focuses on the development and commercialization of drugs for the treatment of rare diseases.
Summary
Cytokinetics is a biopharmaceutical company focused on the discovery, development, and commercialization of novel muscle activators and contractility modifiers as potential treatments for debilitating diseases in which muscle performance is compromised and/or declining. Recent analysis from Morgan Stanley has resulted in a downgrade to equal weight but with a raised price target for the company. This has resulted in the stock price moving upwards on the same day. Investing in the company has potential due to their focus on novel drugs and therapies for muscle related diseases, as well as the recent positive news from Morgan Stanley.
However, investors should also be aware of the risks associated with investing in a biopharmaceutical company, such as the uncertainty of drug development and efficacy of their products.
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