Jason Zemansky, an analyst from Bank of America Securities, maintained the Hold rating on Cytokinetics (CYTK – Research Report). The associated price target remains the same with $54.00.
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Jason Zemansky has given his Hold rating due to a combination of factors impacting Cytokinetics’ competitive positioning. The recent loosening of label restrictions for a rival product, Camzyos, by the FDA has reduced the differentiation potential for Cytokinetics’ aficamten. This change challenges the argument that aficamten could have a significant commercial advantage due to a more favorable label or Risk Evaluation and Mitigation Strategy (REMS).
Furthermore, while aficamten may have certain pharmacokinetic advantages, experts question whether these will translate into a meaningful clinical edge. The commercial dynamics are expected to hinge on REMS and pricing, and there is skepticism about aficamten’s ability to avoid REMS entirely. Additionally, broader market challenges, such as established competition and safety concerns, contribute to the view that Cytokinetics’ shares are fairly valued at present, justifying the Hold rating.