Piper Sandler Maintains a Buy Rating on Cytokinetics (CYTK) With a $107 PT

Cytokinetics, Incorporated (NASDAQ:CYTK) is one of the 13 Best Pharma Stocks to Buy According to Wall Street Analysts. Piper Sandler analyst Yasmeen Rahimi maintained a Buy rating on Cytokinetics, Incorporated (NASDAQ:CYTK) on June 4 and set a price target of $107.00.

JPMorgan analyst Tessa Romero also gave Cytokinetics, Incorporated (NASDAQ:CYTK) a rating update on June 9, lowering the firm’s price target to $53 from $71 while keeping an Overweight rating on the shares.

The firm stated that it updated its revenue forecasts for aficamten following recent management commentary that the launch of Camzyos is a realistic cadence for an obstructive hypertrophic cardiomyopathy launch. It added that the deciding factor for the attitude of investors and physicians towards the drug’s potential adoption would be the label.

The firm believes that aficamten is a “really good drug” to treat obstructive hypertrophic cardiomyopathy, boasting a differentiated profile compared to Camzyos. This holds especially true when considering dosing, safety, and pharmacology. It thus contended that the data to date supports approval.

Cytokinetics, Incorporated (NASDAQ:CYTK) is a biopharmaceutical company that discovers, develops, and commercializes muscle inhibitors to treat diseases that affect muscle performance. It develops small-molecule drug candidates, particularly engineered to affect muscle function and contractility. Its clinical-stage drug candidate portfolio includes omecamtiv mecarbil, a novel cardiac myosin activator, CK-136, a novel cardiac troponin activator, reldesemtiv, a novel fast skeletal muscle troponin activator, aficamten, a novel cardiac myosin inhibitor, and CK-3772271, a novel cardiac myosin inhibitor.

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