Cytokinetics initiated with a Buy at Goldman Sachs

Goldman Sachs initiated coverage of Cytokinetics with a Buy rating and $50 price target. The analyst sees an attractive risk/reward on both the company’s near catalysts and the intermediate term commercial opportunity. The firm’s analyses and key opinion leader checks reveal optimism about aficamten’s potential to be best-in-class on safety with comparable efficacy leading to a high likelihood of adoption in naive hypertrophic cardiomyopathy patients. Overall, against the current biotech market backdrop, Cytokinetics offers an attractive profile given its “largely derisked late-stage asset and upside potential from expansion opportunities,” contends Goldman.