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 related to the potential differentiation opportunity for Cytokinetics’ aficamten in the treatment of non-obstructive hypertrophic cardiomyopathy (nHCM). The recent failure of Bristol-Myers Squibb’s mavacamten in its pivotal Phase 3 ODYSSEY-HCM trial has opened up a unique chance for aficamten to stand out if its own Phase 3 ACACIA-HCM trial proves successful. This differentiation is crucial as there are currently no specifically approved therapies for nHCM, and aficamten could potentially fill this gap.
Additionally, the ACACIA trial’s design, which differs from ODYSSEY by focusing on a single primary endpoint and a shorter evaluation period, might offer a more favorable setup for demonstrating efficacy. While there are concerns about the broader cardiac myosin inhibitor class due to ODYSSEY’s results, the distinct approach of the ACACIA trial could mitigate these worries. As a result, investors might view Cytokinetics’ stock as a promising opportunity, despite potential near-term volatility. Ruiz’s analysis suggests optimism for aficamten’s future prospects, contributing to her Buy rating for Cytokinetics.
According to TipRanks, Ruiz is an analyst with an average return of -16.3% and a 28.04% success rate. Ruiz covers the Healthcare sector, focusing on stocks such as Cytokinetics, Lexicon Pharmaceuticals, and Aquestive Therapeutics.
In another report released yesterday, JMP Securities also reiterated a Buy rating on the stock with a $78.00 price target.