Cytokinetics price target raised to $58 from $49 at H.C. Wainwright

H.C. Wainwright raised the firm’s price target on Cytokinetics to $58 from $49 and keeps a Buy rating on the shares. The company hosted a virtual investor and analyst day that recapitulated the current status and future perspectives of its cardiac myosin inhibitor candidates, led by aficamten, which is currently under evaluation in three Phase 3 clinical trials for the treatment of hypertrophic cardiomyopathy, the analyst tells investors in a research note. The firm believes that the company has a “unique opportunity” to address the multiple manifestations of HCM with both late-stage programs and earlier-stage assets.