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Fly News Breaks for January 21, 2020
CYTK, AMGN
Jan 21, 2020 | 12:36 EDT
Piper Sandler analyst Edward Tenthoff noted that Cytokinetics (CYTK) and partner Amgen (AMGN) now expect to report final data from the GALACTIC-HF trial of omecamtiv mecarbil in the fourth quarter of 2020, adding that he believes omecamtiv mecarbil has "blockbuster sales potential" in heart failure patients with reduced ejection fraction and that positive data would propel the shares higher. The analyst, who keeps an Overweight rating on Cytokinetics, raised his price target on the shares to $22 from $20.
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