Citi Calls Cytokinetics, Incorporated (CYTK) a “Top Pick” Among Small-to-Mid Cap Biotech Stocks

Cytokinetics, Incorporated (NASDAQ:CYTK) is one of the best momentum stocks to buy according to analysts. Citi initiated coverage of Cytokinetics, Incorporated (NASDAQ:CYTK) with a Buy rating on May 18, setting a price target of $99. The firm named the stock a top pick among small-to-mid cap biotech stocks, and told investors that it is “bullish” on the Myqorzo launch in obstructive hypertrophic cardiomyopathy. It sees its optionality in nonobstructive disease as “still underappreciated”, adding that the fuller Phase 3 ACACIA-HCM data are expected to drive mid-term upside.

Cytokinetics, Incorporated (NASDAQ:CYTK) also received a rating update from Wells Fargo on May 7. The firm lifted the price target on the stock to $105 from $95 and maintained an Overweight rating on the shares, noting that fiscal Q1 Myqorzo sales point towards strong uptake in the initial 9 weeks of launch. This holds especially true with community cardiologists, according to the firm’s estimate. Wells anticipates momentum in obstructive hypertrophic cardiomyopathy to continue, and sees synergy with non-obstructive hypertrophic cardiomyopathy after ACACIA success.

Cytokinetics, Incorporated (NASDAQ:CYTK) is a biopharmaceutical company that discovers, develops, and commercializes muscle activators and muscle inhibitors as potential treatments for debilitating diseases. The company’s clinical-stage drug candidates include omecamtiv mecarbil, CK-136, reldesemtiv, aficamten, and CK-3772271.

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