B.Riley Financial analyst Mayank Mamtani has maintained their bullish stance on CYTK stock, giving a Buy rating on January 2.
Mayank Mamtani’s Buy rating for Cytokinetics is anchored on the company’s promising drug, aficamten, which is poised to capture a significant market share in the cardiac myosin inhibitor market, as evidenced by impressive Phase III SEQUIOA-HCM trial data. Mamtani’s increased price target from $66 to $122 reflects a strong belief in the drug’s market potential and its ability to outperform its competitors in terms of safety, tolerability, and efficacy. Furthermore, the expectation of robust Phase III program execution, including multiple trials that are reinforcing aficamten’s clinical advantages, bolsters confidence in the stock’s prospects.
Additionally, Mamtani identifies the underappreciation of aficamten’s potential for earlier line use in obstructive hypertrophic cardiomyopathy (oHCM), particularly in light of recent positive trial results that suggest it could become a first-line treatment. The drug’s success in improving patient outcomes, coupled with its favorable side effect profile compared to existing treatments, further underpins the Buy recommendation. The anticipation of strong initial adoption, driven by innovative payer contracting, and the potential for significant synergies in global commercialization by potential big pharma suitors, also contribute to the positive outlook for Cytokinetics’s stock.
According to TipRanks, Mamtani is an analyst with an average return of -16.0% and a 28.34% success rate. Mamtani covers the Healthcare sector, focusing on stocks such as Cytokinetics, CymaBay Therapeutics, and Harrow Health.
In another report released on January 2, J.P. Morgan also maintained a Buy rating on the stock with a $78.00 price target.
See Insiders’ Hot Stocks on TipRanks >>
TipRanks tracks over 100,000 company insiders, identifying the select few who excel in timing their transactions. By upgrading to TipRanks Premium, you will gain access to this exclusive data and discover crucial insights to guide your investment decisions. Begin your TipRanks Premium journey today.
Cytokinetics (CYTK) Company Description:
Cytokinetics, Inc. operates as a biopharmaceutical company, which focuses on the discovery and development of muscle activators as potential treatment for debilitating diseases. It conducts a Phase 2 clinical trials program for tirasemtiv, including a Phase 2b clinical trial in patients with ALS, known as BENEFIT-ALS (Blinded Evaluation of Neuromuscular Effects and Functional Improvement with Tirasemtiv in ALS). The company was founded on August 5, 1997 and is headquartered in South San Francisco, CA.
Read More on CYTK:
