- Cytokinetics (CYTK +7.6%) rallies after Needham's Chad Messer reminds investors that despite a misread by the media, last month's ATOMIC-AHF readout was actually in line with expectations.
- "Significant increases in systolic injection and reduction in worsening of heart failure while actually lowering heart rate, distinguish omecamtiv from older inotropic agents [and] are more than positive enough for Amgen (NASDAQ:AMGN) to proceed with a Phase 3 study next year, triggering a milestone payment to CYTK shareholders," Messer notes, downplaying the overall dypsnea response miss.
- Price target raised to $25 from $20.
- While today's vote of confidence is good for morale, the rationale here was discussed at length in early September after the presentation at the ESC Congress.
Cytokinetics jumps as Needham reiterates omecamtiv bull thesis
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About CYTK Stock
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| Symbol | Last Price | % Chg |
|---|---|---|
| CYTK | - | - |
| Cytokinetics, Incorporated | ||