Cytokinetics price target raised to $54 from $52 at JPMorgan

JPMorgan raised the firm’s price target on Cytokinetics (CYTK) to $54 from $52 and keeps an Overweight rating on the shares after having conducted a 25-physician survey which targeted U.S. cardiologists treating Hypertrophic Cardiomyopathy, or HCM. The firm’s survey points to high levels of penetration for cardiac myosin inhibitors over time, which it says should support “a large market with multiple agents.” The firm thinks there are “several paths” that could differentiate Cytokinetics’ aficamten relative to Bristol-Myers’ (BMY) Camzyos and lead to “disproportionate share of patients on aficamten,” the analyst added.