Jefferies analyst Akash Tewari maintained a Buy rating on Cytokinetics (CYTK – Research Report) yesterday and set a price target of $70.00.
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Akash Tewari’s rating is based on Cytokinetics’ promising position in the competitive landscape of cardiovascular treatments. The company is progressing well with its next-generation therapy, CK-586, which shows potential in efficacy and safety profiles.
Akash notes that while upcoming competitors like EDG-7500 may reach effective concentrations faster, their overall long-term benefits are still uncertain compared to Cytokinetics’ offerings. Importantly, both therapies demonstrate transient drops in LVEF, but Cytokinetics maintains a favorable safety comparison. This balance of efficacy and safety supports Akash’s Buy rating for Cytokinetics’ stock.
According to TipRanks, Tewari is a 4-star analyst with an average return of 9.4% and a 48.86% success rate. Tewari covers the Healthcare sector, focusing on stocks such as Eli Lilly & Co, Bristol-Myers Squibb, and Merck & Company.
In another report released yesterday, Stifel Nicolaus also maintained a Buy rating on the stock with a $80.00 price target.