Cytokinetics, Incorporated (NASDAQ:CYTK) is reporting third quarter financial results on Wednesday 4th November 2020, after market close.
According to analysts surveyed by Thomson Reuters, CYTK is expected to report 3Q20 loss of $ 0.34 per share from revenue of $ 4.02 million.
For the full year, analysts anticipate top line of $ 37.39 million, while looking forward to loss of $ 2.07 per share bottom line.
The Company Outlook
Full Year 2020 topline are forecasted in a range of$ 18.00 million ~ $ 22.00 million
Click Here For More Historical Outlooks Of Cytokinetics, Incorporated
Previous Quarter Performance
Cytokinetics, Incorporated unwinded loss for the second quarter of $ 0.68 per share, from the revenue of $ 3.59 million. The quarterly revenues shrunk 49.72 percent compared with the same quarter last year. The consensus estimates are loss of $ 0.57 per share from $ 4.07 million in revenue. The bottom line results missed street analysts by $ 0.11 or 19.3 percent, at the same time, top line results fell short of analysts by $ 0.48 million or 11.79 percent.
Stock Performance
Shares of Cytokinetics, Incorporated traded up $ 0.77 or 4.83 percent on Tuesday, reaching $ 16.72 with volume of 845.20 thousand shares. Cytokinetics, Incorporated has traded high as $ 16.91 and has cracked $ 15.81 on the downward trend
According to the previous trading day, closing price of $ 16.72, representing a 106.34 % increase from the 52 week low of $ 7.73 and a 47.08 % decrease over the 52 week high of $ 30.14.
The company has a market capital of $ 1.18 billion and is part of the Healthcare sector and Biotechnology industry.
Recent Analyst recommendations
- On 12th October 2020, maintained by Morgan Stanley at Overweight rating, with $ 24.00 target price.
- On 8th October 2020, maintained by HC Wainwright at Buy rating, with $ 43.00 target price.
Conference Call
Cytokinetics, Incorporated will be hosting a conference call at 4:30 PM eastern time on 4th November 2020, to discuss its 3Q20 financial results with the investment community. A live webcast with presentations will be available on the Internet by visiting the Company website www.cytokinetics.com
Cytokinetics, Incorporated, a late-stage biopharmaceutical company, focuses on discovering, developing, and commercializing muscle activators and inhibitors as potential treatments for debilitating diseases in which muscle performance is compromised and/or declining. The company is developing small molecule drug candidates primarily engineered to increase 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 novel fast skeletal muscle troponin activator, which is in Phase II clinical trial to treat amyotrophic lateral sclerosis and spinal muscular atrophy.
