JMP Securities analyst Jason Butler reiterated a Buy rating on Cytokinetics (CYTK – Research Report) today and set a price target of $78.00.
Jason Butler has given his Buy rating due to a combination of factors including the promising progress of Cytokinetics’ pipeline, particularly with aficamten, which is on track for U.S. approval. The company’s strategic efforts in expanding aficamten’s label and its ongoing global regulatory developments highlight a significant growth opportunity. Additionally, Cytokinetics’ robust financial position, with substantial cash reserves, supports its continued investment in research and development.
The company is also advancing its commercial readiness, preparing for aficamten’s market launch with initiatives to increase awareness and understanding of its clinical benefits. Furthermore, the expansion of clinical trials for aficamten in various regions, including Japan, and the ongoing development of other cardiology assets like omecamtiv mecarbil and CK-586, underscore the potential for long-term growth and value creation. These factors collectively underpin Jason Butler’s positive outlook on Cytokinetics’ stock.
According to TipRanks, Butler is an analyst with an average return of -4.4% and a 38.80% success rate. Butler covers the Healthcare sector, focusing on stocks such as Abivax SA Sponsored ADR, Cytokinetics, and Precigen.
In another report released on February 18, Jefferies also maintained a Buy rating on the stock with a $70.00 price target.