Cytokinetics price target lowered to $59 from $61 at Cantor Fitzgerald

Cantor Fitzgerald analyst Charles Duncan lowered the firm’s price target on Cytokinetics to $59 from $61 and keeps an Overweight rating on the shares. On Friday, Cytokinetics announced that the Data Monitoring Committee for the Phase 3 COURAGE-ALS study of reldesemtiv for amyotrophic lateral sclerosis convened to conduct the second planned interim analysis, recommending the discontinuation of the clinical study due to futility, the analyst tells investors in a research note. This news is disappointing, but Cantor Fitzgerald remains focused on the development of aficamten, the key value-driving program of the company.