Cytokinetics, Incorporated

NasdaqGS:CYTK Stock Report

Market Cap: US$5.7b

Cytokinetics Valuation

Is CYTK undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

1/6

Valuation Score 1/6

  • Below Fair Value

  • Significantly Below Fair Value

  • Price-To-Book vs Peers

  • Price-To-Book vs Industry

  • Price-To-Book vs Fair Ratio

  • Analyst Forecast

Share Price vs Fair Value

What is the Fair Price of CYTK when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: CYTK ($48.54) is trading below our estimate of fair value ($49.57)

Significantly Below Fair Value: CYTK is trading below fair value, but not by a significant amount.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for CYTK?

Key metric: As CYTK barely has revenue we use its Price-To-Book Ratio for relative valuation analysis.

The above table shows the Price to Book ratio for CYTK. This is calculated by dividing CYTK's market cap by their current book value.
What is CYTK's PB Ratio?
PB Ratio-411.8x
Book-US$13.91m
Market CapUS$5.73b

Price to Book Ratio vs Peers

How does CYTK's PB Ratio compare to its peers?

The above table shows the PB ratio for CYTK vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PBEstimated GrowthMarket Cap
Peer Average16.8x
CRSP CRISPR Therapeutics
1.8x37.2%US$3.5b
RVMD Revolution Medicines
4.9x7.2%US$7.5b
SRRK Scholar Rock Holding
54.1x53.4%US$4.3b
NAMS NewAmsterdam Pharma
6.4x27.6%US$2.4b
CYTK Cytokinetics
n/a36.8%US$5.7b

Price-To-Book vs Peers: CYTK has negative equity and a Price-To-Book Ratio (-411.8x) compared to the peer average (16.8x).

Price to Book Ratio vs Industry

How does CYTK's PB Ratio compare vs other companies in the US Biotechs Industry?

66 CompaniesPrice / BookEstimated GrowthMarket Cap
GRAL GRAIL
0.3x35.7%US$632.03m
AMRN Amarin
0.3x-7.9%US$187.86m
LYEL Lyell Immunopharma
0.3x-14.9%US$171.13m
NKTX Nkarta
0.4x-11.5%US$165.84m
CYTK is unprofitableIndustry Avg. 1.8xNo. of Companies82PB01.63.24.86.48+
66 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Book vs Industry: CYTK has negative equity and a Price-To-Book Ratio (-411.8x) compared to the US Biotechs industry average (1.7x).

Price to Book Ratio vs Fair Ratio

What is CYTK's PB Ratio compared to its Fair PB Ratio? This is the expected PB Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

CYTK PB Ratio vs Fair Ratio.
Fair Ratio
Current PB Ratio-411.8x
Fair PB Ration/a

Price-To-Book vs Fair Ratio: Insufficient data to calculate CYTK's Price-To-Book Fair Ratio for valuation analysis.

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

The above table shows the analyst CYTK forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentUS$48.54
US$81.71
+68.3%
20.4%US$120.00US$60.00n/a17
Dec ’25US$51.86
US$80.56
+55.3%
20.7%US$120.00US$60.00n/a16
Nov ’25US$51.82
US$83.06
+60.3%
21.1%US$120.00US$60.00n/a17
Oct ’25US$52.60
US$81.29
+54.6%
18.5%US$107.00US$60.00n/a17
Sep ’25US$57.08
US$80.94
+41.8%
19.0%US$107.00US$60.00n/a17
Aug ’25US$57.91
US$82.65
+42.7%
16.8%US$107.00US$60.00n/a17
Jul ’25US$54.70
US$82.65
+51.1%
16.8%US$107.00US$60.00n/a17
Jun ’25US$48.51
US$85.12
+75.5%
18.8%US$122.00US$60.00n/a17
May ’25US$63.37
US$90.28
+42.5%
20.6%US$122.00US$42.40n/a19
Apr ’25US$73.02
US$92.07
+26.1%
19.3%US$122.00US$42.40n/a19
Mar ’25US$73.98
US$92.13
+24.5%
19.2%US$122.00US$42.40n/a19
Feb ’25US$81.25
US$92.18
+13.5%
19.2%US$122.00US$42.40n/a19
Jan ’25US$83.49
US$82.97
-0.6%
24.1%US$110.00US$42.40n/a19
Dec ’24US$33.57
US$59.97
+78.6%
16.1%US$80.00US$41.00US$51.8620
Nov ’24US$35.10
US$61.29
+74.6%
14.7%US$80.00US$41.00US$51.8217
Oct ’24US$29.46
US$60.81
+106.4%
15.3%US$80.00US$41.00US$52.6016
Sep ’24US$36.00
US$60.81
+68.9%
15.3%US$80.00US$41.00US$57.0816
Aug ’24US$32.50
US$61.00
+87.7%
15.7%US$80.00US$41.00US$57.9115
Jul ’24US$32.62
US$61.00
+87.0%
15.7%US$80.00US$41.00US$54.7015
Jun ’24US$37.96
US$60.38
+59.0%
15.9%US$80.00US$41.00US$48.5116
May ’24US$37.77
US$60.06
+59.0%
16.3%US$80.00US$42.00US$63.3716
Apr ’24US$35.19
US$60.44
+71.7%
16.4%US$80.00US$42.00US$73.0216
Mar ’24US$43.11
US$61.75
+43.2%
13.6%US$80.00US$49.00US$73.9816
Feb ’24US$42.83
US$62.67
+46.3%
12.7%US$80.00US$55.00US$81.2515
Jan ’24US$45.82
US$62.07
+35.5%
14.0%US$80.00US$47.00US$83.4915
Dec ’23US$40.86
US$68.07
+66.6%
13.0%US$82.00US$55.00US$33.5714

Analyst Forecast: Target price is more than 20% higher than the current share price, but analysts are not within a statistically confident range of agreement.

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2024/12/26 07:39
End of Day Share Price 2024/12/26 00:00
Earnings2024/09/30
Annual Earnings2023/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on .

Analyst Sources

Cytokinetics, Incorporated is covered by 36 analysts. 17 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Carter GouldBarclays
Jason ZemanskyBofA Global Research
Mayank MamtaniB. Riley Securities, Inc.