Needham & Company Maintains a 'Hold' on Cytokinetics (CYTK); Data from Phase 2 “Evidence of Effect” Trial in Claudication Confirm the Rapid Effect of CK-357
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Price: $74.13 +0.93%
Rating Summary:
23 Buy, 2 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
23 Buy, 2 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Needham & Company maintains a 'Hold' on Cytokinetics (NASDAQ: CYTK).
Needham analyst says, "At the ongoing Society for Vascular Medicine meeting, investigators presented data from a Phase 2 “Evidence of Effect” trial of CK-357 in patients with claudication associated with PAD. Results showed that single dose of CK-357 increased calf muscle performance, with an increase in work during bilateral heel raise testing. However, six-minute walking distance trended in opposite direction with a dose-dependent decline observed, potentially due to side effects such as dizziness. Calf muscle performance and AEs were related to CK-357 dose and plasma concentration."
"We maintain our Hold rating, as we await further sentinel events over the next 6-12 months to drive CYTK stock valuation. Potential partnerships or faster than expected development in CK-357 or omecamtiv mecarbil by partner Amgen (Nasdaq: AMGN)(NR) may provide upside to our valuation thesis."
For more ratings news on Cytokinetics click here and for the rating history of Cytokinetics click here.
Shares of Cytokinetics closed at $1.38 yesterday.
Needham analyst says, "At the ongoing Society for Vascular Medicine meeting, investigators presented data from a Phase 2 “Evidence of Effect” trial of CK-357 in patients with claudication associated with PAD. Results showed that single dose of CK-357 increased calf muscle performance, with an increase in work during bilateral heel raise testing. However, six-minute walking distance trended in opposite direction with a dose-dependent decline observed, potentially due to side effects such as dizziness. Calf muscle performance and AEs were related to CK-357 dose and plasma concentration."
"We maintain our Hold rating, as we await further sentinel events over the next 6-12 months to drive CYTK stock valuation. Potential partnerships or faster than expected development in CK-357 or omecamtiv mecarbil by partner Amgen (Nasdaq: AMGN)(NR) may provide upside to our valuation thesis."
For more ratings news on Cytokinetics click here and for the rating history of Cytokinetics click here.
Shares of Cytokinetics closed at $1.38 yesterday.
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