Cytokinetics (CYTK) Pipeline Progress to Be Seen in the 2nd-Half - Piper Jaffray

Piper Jaffray analyst Charles Duncan reiterated an Overweight rating and $24 price target on Cytokinetics (NASDAQ: CYTK) saying visibility of pipeline progress may be seen in the 2nd-half.

Duncan commented, "Heading into 2H16 and following an update with management, we’re revisiting anticipated progress for Cytokinetics yet this year. Most imminently, we expect Cytokinetics to complete enrollment in the Phase III VITALITY-ALS trial, which should reduce perceived execution risk around the recently increase in trial size and start the clock to betterpowered study results in 2H17. We also eagerly anticipate the pivotal plan for omecamtiv to emerge by YE16 with, in our view, a probable Amgen opt-in. This has required some patience, but KOL diligence is supportive of development of this novel mechanism in HF on the back of positive Phase II data. We believe the time taken could result in a strategic and capital-efficient path to market for acute and chronic HF treatment. In advance of enhanced visibility for these late-stage programs, and also now second-gen skeletal muscle activator CK-107, we reiterate our OW heading into 2H16."

For an analyst ratings summary and ratings history on Cytokinetics click here. For more ratings news on Cytokinetics click here.

Shares of Cytokinetics closed at $10.09 yesterday.

You May Also Be Interested In

• AstraZeneca (AZN) Announces Voydeya Approval in EU as add-on to ravulizumab or eculizumab
• Fiserv (FI) PT Raised to $175 at TD Cowen
• Citi Downgrades UBS AG (UBSG:SW) (UBS) to Neutral