Cytokinetics stock maintains Buy rating as H.C. Wainwright cites exercise data

Investing.com - H.C. Wainwright has reiterated its Buy rating and $120.00 price target on Cytokinetics (NASDAQ:CYTK), representing a significant upside from the current price of $53.89. According to InvestingPro data, the stock maintains a strong Buy consensus with analyst targets ranging from $41 to $120.

The new data expands understanding of aficamten’s efficacy across several measures of exercise performance in obstructive hypertrophic cardiomyopathy (oHCM) patients, showing effects in peak capacity, submaximal exercise, and recovery from exercise.

The MAPLE-HCM trial previously demonstrated superiority of aficamten relative to metoprolol in peak oxygen consumption (pVO2) after 24 weeks of treatment, as presented at ESC 2025.

Pre-specified supplemental analyses on cardiopulmonary exercise testing (CPET) showed aficamten-mediated improvements in all measures of exercise performance compared to metoprolol, including submaximal exercise measures and maximal exercise endpoints at week 24.

The CPET endpoints revealed a divergent effect of aficamten versus metoprolol on exercise performance, with improvements in measures including anaerobic threshold, aerobic efficiency, ventilatory efficiency, peak workload, peak heart rate, exercise duration, and heart rate reserve.

In other recent news, Cytokinetics has been active with a series of significant developments. The company announced a private offering of $650 million in 1.75% convertible senior notes due 2031, an increase from the initially planned $550 million. This move aims to refinance existing 3.50% convertible senior notes due in 2027, with the transaction set to settle on September 19. Meanwhile, Stifel and H.C. Wainwright both maintained their Buy ratings on Cytokinetics, with price targets of $96.00 and $120.00, respectively. Stifel’s decision follows the release of promising long-term data for aficamten in treating non-obstructive hypertrophic cardiomyopathy. H.C. Wainwright’s rating comes as the company nears the PDUFA date for aficamten, supported by new data from the Phase 3 MAPLE-HCM trial. Additionally, Cytokinetics held a virtual investor event to present this new data. These developments reflect the company’s ongoing efforts in both financial strategy and drug development.

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