Analyst Maxwell Skor of Morgan Stanley maintained a Buy rating on Cytokinetics, retaining the price target of $65.00.
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Maxwell Skor has given his Buy rating due to a combination of factors surrounding Cytokinetics’ recent developments and strategic positioning. The company’s Late Cycle Meeting with the FDA was positive, with no concerns raised, indicating a smooth path forward for their NDA for aficamten in obstructive HCM. This confidence is bolstered by the company’s proposed REMS program and the expectation of a differentiated label and risk mitigation profile.
Furthermore, Cytokinetics is on track with its European review process, having submitted responses to the EMA’s Day 120 questions. The narrative is shifting towards the potential impact of MAPLE-HCM data and the anticipated ACACIA topline results in the first half of 2026. Additionally, the company’s recent upsized convertible senior notes offering strengthens its financial position, allowing for strategic refinancing. These factors collectively contribute to the positive outlook and Buy rating for Cytokinetics’ stock.
In another report released yesterday, B. Riley Securities also maintained a Buy rating on the stock with a $80.00 price target.
Based on the recent corporate insider activity of 145 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.