Citizens has increased its price target for Cytokinetics (NASDAQ:CYTK) to $96 from $88 while leaving its Market Outperform rating unchanged. The firm noted the company as a top pick ahead of a pivotal clinical readout and adjusted its valuation after the company published fourth-quarter 2025 financial results and business updates.
At the time of the note, Cytokinetics shares were trading around $70.10, implying about 37% potential upside to Citizens’ revised target. The stock has also posted a strong run, rising roughly 89% over the prior six months.
Citizens analyst Jason Butler raised the firm’s risk-adjusted, discounted cash flow-derived price target following management’s update and the latest quarterly reporting. The research note highlighted early commercialization indicators for Myqorzo, the company’s newly launched therapy for obstructive hypertrophic cardiomyopathy.
Company disclosures and the analyst’s readout provided information on the initial weeks of the Myqorzo rollout. Healthcare providers are being certified under the required REMS program, and that process includes both current prescribers of cardiac myosin inhibitors and clinicians who are new to the class. According to the materials discussed, prescriptions are being written and dispensed for the treatment.
During the company’s investor call, a substantial portion of questions from participants centered on the imminent Phase 3 readout in non-obstructive hypertrophic cardiomyopathy, indicating investor focus on upcoming clinical milestones.
Citizens reiterated that it views Cytokinetics as a top pick ahead of that Phase 3 ACACIA study result, maintaining the Market Outperform rating on the stock.
Independent platform analysis noted that CYTK was trading near a 52-week high of $70.98, while that same platform’s Fair Value assessment suggested the shares may be overvalued at current levels. The platform also referenced additional analytical resources it offers, including supplementary ProTips and financial health scores.
In parallel with Citizens’ update, several other brokerages and analysts have modified their stance or issued new coverage following regulatory and commercial developments around Myqorzo. Barclays initiated coverage with an Overweight rating and a $87.00 price target, calling out features such as flexible titration and lower monitoring requirements. Needham raised its price target to $84.00 in the wake of FDA approval and noted plans for a launch in January.
Jefferies increased its price target to $90.00, specifically pointing to the upcoming Phase 3 ACACIA study as a material near-term event. Truist Securities reiterated a Buy rating, observing an increasing clinical preference for Myqorzo over Bristol Myers Squibb’s Camzyos for new hypertrophic cardiomyopathy patients. B.Riley kept its Buy rating in place and maintained a $108.00 price target, emphasizing Myqorzo’s potential in the cardiac myosin inhibitor category.
Collectively, these analyst actions and the company’s launch disclosures convey a generally favorable view from sell-side firms regarding Cytokinetics’ current activities and the commercial prospects for Myqorzo, while also highlighting the importance of upcoming clinical readouts and early market uptake metrics.
Summary
Citizens raised its price target on Cytokinetics to $96 from $88 and kept a Market Outperform rating after the company reported fourth-quarter 2025 results and provided early details from the Myqorzo launch. The shares trade near $70.10, offering about 37% upside to Citizens’ new target. Multiple firms have adjusted coverage or initiated ratings following FDA approval and the start of commercialization, and attention is focused on the impending Phase 3 non-obstructive hypertrophic cardiomyopathy readout.
Key points
- Citizens raised its DCF-based price target on CYTK to $96 from $88 and maintained a Market Outperform rating, naming the stock a top pick ahead of Phase 3 results - sectors impacted: biotech, healthcare, capital markets.
- Early Myqorzo launch activities include REMS certification of prescribers and active prescriptions being written and filled, providing initial commercial traction - sectors impacted: pharmaceuticals, hospital and outpatient care.
- Several other brokerages updated coverage or targets after the FDA approval and launch, including initiations and price target changes from Barclays, Needham, Jefferies, Truist, and B.Riley - sectors impacted: financial services, equity research.
Risks and uncertainties
- Valuation risk: An independent platform’s Fair Value assessment indicates CYTK may be overvalued at current prices, presenting potential market-risk considerations for equity investors - markets and financial services are affected.
- Clinical-readout uncertainty: The upcoming Phase 3 ACACIA non-obstructive HCM result is a material near-term event, and outcomes remain unknown - biotech and healthcare sectors are directly exposed.
- Early commercialization variables: Myqorzo’s rollout is at an early stage with REMS certification and initial prescriptions underway; uptake rates and broader prescriber adoption are still developing and may influence revenue trajectories - impacts pharmaceutical sales and healthcare delivery.