Information Provided By:
Fly News Breaks for March 4, 2020
CYTK
Mar 4, 2020 | 07:10 EDT
H.C. Wainwright analyst Joseph Pantginis believes 2020 represents a "transformational year" for Cytokinetics. This is based on "major visibility" across the company's programs as well as the growing size of the pipeline, Pantginis tells investors in a post-earnings research note titled "Our Investment Case Is Clear: We Are All in." The omecamtiv mecarbil program is "leading the charge" with global partner Amgen (AMGN) with the projected Q4 readout of the 8,256 patients Phase 3 GALACTIC study in heart failure, says the analyst. He believes Cytokinetics shares are only starting to reflect a projected positive outcome for GALACTIC, and Cytokinetic's likely development of a co-promotion plan with Amgen, in addition to $600M milestone potential. Further, the company's CK-274 program has seen increasing investor interest, according to Pantginis. The analyst keeps a Buy rating on Cytokinetics with a $30 price target. The stock closed Tuesday up 2% to $14.57.
News For CYTK From the Last 2 Days
There are no results for your query CYTK