Cytokinetics (CYTK) PT Raised to $85 at Needham

Needham analyst Serge Belanger raised the price target on Cytokinetics (NASDAQ: CYTK) to $85.00 (from $84.00) while maintaining a Buy rating.

The analyst comments "There was little in terms of a Myqorzo launch update in CYTK's 4Q25 update given the product only became commercially available in late-Jan. It will take 2-3 quarters to see how the launch is tracking and compares vs. Camzyos which generated sales of ~$53MM in its first 4 qrtrs of launch. The upcoming 2Q26 readout of ACACIA-HCM in nHCM represents the key catalyst for CYTK, given its potential to not only meaningfully expand (potentially double) Myqorzo's market potential into nHCM but also significantly differentiate vs. Camzyos. We expect results in early-2Q26, with success likely achieved by meeting one or both of the dual primary endpoints (KCCQ or pVO2). We maintain our Buy rating and increase our $PT to $85 (from $84) to reflect minor model adjustments. We note our model and valuation does not currently include Myqorzo sales in nHCM."

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