UPDATE: MLV Initiates Cytokinetics with Buy, $4 PT
MLV initiates its coverage on Cytokinetics (NASDAQ: CYTK) with a Buy rating and a price target of $4 as the company approaches a pivotal stage in the development of CK-357 and Omecamtiv.
MLV notes, "Through a unique molecular motors targeting approach, Cytokinetics, Inc. has successfully discovered and advanced two promising product candidates into clinical development: CK-357 for the treatment of skeletal muscle disorders, and omecamtiv mecarbil for the treatment of cardiac muscle disorders. We anticipate a number of clinical trial results in 2012 that we expect will determine the future direction of these programs and of Cytokinetics as well."
CYTK closed at $1.09 on Wednesday.
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