Hate to post this on an uptick but I wanted to share analyst consensus and thoughts
Nothing has materially changed since I bought in last month but it has picked up steam for two reasons:
1 -NY times article highlighting Biogen dropping ALS program and CYTK, is one of two other companies developing.
2- Piper initiated coverage and a $4.00 PT made me pull up the consensus as of today..
Lazard - $3, Needham $2.50, Canacord, JMP, and MLV all $4.00 and Dawson $2.00. no one that I know that covers has a Hold or Sell. Tirasemtiv is a long way off but on a risk reward basis, $1 is good enough for me.
Not to mention,
1. CYTK has been rising in small increments before the coverage.
2. Institution added 20M shares, and they own over 50% of float with insiders owning over 20%.
3. Heavy accumulation going on.
4. With the float and recent warrant @ .88 should increase market cap equiv to over $2
5. Look at their pipeline, geez...
I'm gonna hold my 60K shares. This may linger around $1.10 range. But CYTK be attending few conferences, and should have news coming this quarter. JMO.
Keeps on ticking up over 1.13 now. What is happening here? Hey Bigfella, you gonna sell your .69 shares and put the brass on the shelf? I think I am getting close to even for the moment. Sure hope news comes soon.