Leerink Partners analyst Roanna Ruiz has maintained their bullish stance on CYTK stock, giving a Buy rating yesterday.
Roanna Ruiz has given her Buy rating due to a combination of factors that highlight the potential of Cytokinetics’ aficamten in the market. Despite the competitive landscape presented by EWTX’s EDG-7500, Ruiz remains optimistic about aficamten’s prospects. The hypertrophic cardiomyopathy (HCM) market is expected to be large enough to accommodate multiple differentiated treatments, providing a promising opportunity for aficamten.
Furthermore, while EDG-7500 shows potential, particularly with its lack of concerning LVEF drops, aficamten maintains a favorable arrhythmia profile, which is a significant consideration. The small cohort size of EDG-7500’s trials suggests that more data is needed to fully understand its implications. Meanwhile, aficamten benefits from an advantageous US launch timing lead. Overall, Ruiz believes that aficamten and EDG-7500 can coexist in the HCM space, supporting her positive outlook on Cytokinetics’ stock.
In another report released yesterday, JMP Securities also reiterated a Buy rating on the stock with a $78.00 price target.
Based on the recent corporate insider activity of 152 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.