Oppenheimer analyst Justin Kim lowered the firm’s price target on Cytokinetics to $106 from $107 and keeps an Outperform rating on the shares. The firm notes the company gave an update on the progress of its portfolio of cardiac myosin-targeting compounds as it prepares for aficamten’s entry into the oHCM market. Cytokinetics recently held two meetings with FDA to discuss the NDA and will have a type B meeting with regulators to discuss supportive safety data ahead of next quarter’s submission. The company plans to submit aficamten’s MAA to the EMA in Q4 2024. As Cytokinetics continues to make regulatory and commercial preparations for aficamten, Oppenheimer stays bullish on the anticipated oHCM launch late next year and value held within the company’s advancing pipeline.
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