2. Cytokinetics (CYTK) said on July 26 that it has been awarded a $2.9 million grant from the National Institute of Neurological Disorders and Stroke for preclinical and clinical development of CK-2017357, the company's treatment for myasthenia gravis, or muscle weakness and fatigue.
Share Price: $2.75 (July 30 close)
Average Price Target: $11.50, based on three analyst price targets of $7, $16.50 and $11 dating to May 11. From the current share price, the average price target from analysts signifies a 308% jump.2010 Performance: -5.5% Analysts' View: Five of the six analysts following Cytokinetics rate the stock a "buy," including JMP Securities and Canaccord Genuity. In a July 29 research note, Wedbush analyst Gregory Wade maintained his "outperform" rating on the stock and said he arrives at his $16.50 price target by adding $3.50 per share assigned to Cytokinetics' lead drug candidate, omecamtiv mecarbil, to his estimate of the company's anticipated appreciation of $13 per share for the potential of the company's skeletal muscle program.
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