Citi analyst David Lebowitz has maintained their bullish stance on CYTK stock, giving a Buy rating today.
David Lebowitz has given his Buy rating due to a combination of factors, primarily centered around Cytokinetics’ promising developments and strategic positioning. The company’s anticipated approval of aficamten for obstructive hypertrophic cardiomyopathy by the FDA, expected by September 2025, is a significant catalyst. This approval could provide Cytokinetics with a competitive edge, especially given the expected less burdensome REMS program compared to its competitors.
Additionally, Cytokinetics’ financial performance, including a notable upfront payment from Sanofi for aficamten commercialization rights, indicates strong collaboration and future revenue potential. The upcoming data readouts in the second quarter of 2025, particularly the MAPLE-HCM trial, could further enhance aficamten’s market position by demonstrating its superiority over existing treatments. These developments suggest a potential for significant upside in the company’s stock, justifying the Buy rating.
In another report released today, Piper Sandler also maintained a Buy rating on the stock with a $107.00 price target.
Based on the recent corporate insider activity of 137 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of CYTK in relation to earlier this year.