Raymond James lowered the firm’s price target on Cytokinetics (CYTK) to $70 from $92 and keeps an Outperform rating on the shares. Cytokinetics announced expansion of their Royalty Pharma (RTRX) debt deal, a $50M private placement from Royalty Pharma, and an up to $575M secondary offering, the analyst tells investors in a research note. Raymond James remains positive on the drug profile of aficamten and groundwork for cardiac myosin inhibitors established within oHCM by mavacamten and says that the primary readthrough is on the probability of Cytokinetics to field and accept a buyout offer.
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