Cytokinetics price target raised to $85 from $41 at BofA

BofA analyst Jason Zemansky raised the firm’s price target on Cytokinetics to $85 from $41 and keeps a Neutral rating on the shares. While the firm credits Cytokinetics for the “solid topline results for SEQUOIA,” acknowledging “what looks, at the very least, to be solid competitive positioning,” it argues that further potential upside to shares remains unclear pending greater clinical, regulatory, and competitor clarity. Following yesterday’s data release, BofA is increasing its view of the odds of success for aficamten for oHCM to 95% from 65%, the analyst noted.