H.C. Wainwright Reiterates Buy Rating on Cytokinetics (CYTK)

H.C. Wainwright analyst Joseph Pantginis reiterated a Buy rating and $90.00 price target on Cytokinetics (NASDAQ: CYTK).

The analyst commented: "At the 2024 Scientific Sessions of The Hypertrophic Cardiomyopathy Medical Society (HCMS), Cytokinetics presented additional cardiac remodeling data from the pivotal SEQUOIA-HCM Phase 3 trial of aficamten in oHCM patients. We believe these results not only complement the magnetic resonance and biomarker data presented at ESC ‘24 (see below), but also add to the whole data package that aims to support aficamten’s potential approval as a best-in-class CMI. Recall, the rolling NDA submission for aficamten is expected to be completed in soon (see more below). The new analyses of global remodeling responses after 24 weeks of treatment with aficamten vs. placebo assessed five different domains reflecting structural, electrophysiologic, and biochemical disease expression parameters. We reiterate our Buy rating and $90 price target."

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Shares of Cytokinetics closed at $52.34 yesterday.

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