Needham analyst Serge Belanger maintained a Buy rating on Cytokinetics (CYTK – Research Report) today and set a price target of $72.00.
Serge Belanger has given his Buy rating due to a combination of factors surrounding Cytokinetics’ recent developments. The company’s MAPLE-HCM phase 3 study has achieved its primary endpoint, demonstrating a significant improvement in peak oxygen uptake in patients with obstructive hypertrophic cardiomyopathy. This success, although anticipated, enhances the commercial positioning of aficamten as a leading treatment option.
Additionally, the study’s outcome supports future regulatory filings and strengthens aficamten’s market appeal among healthcare providers and payors. Despite the study not being necessary for FDA approval, it adds a competitive edge over mavacamten. Investors are now focused on upcoming milestones, including the PDUFA target action date and the ACACIA-HCM study results, which could further solidify aficamten’s market potential.
According to TipRanks, Belanger is a 3-star analyst with an average return of 0.8% and a 39.80% success rate. Belanger covers the Healthcare sector, focusing on stocks such as Cytokinetics, Liquidia Technologies, and Esperion.
In another report released today, H.C. Wainwright also reiterated a Buy rating on the stock with a $120.00 price target.
