Needham has raised its price target on Cytokinetics Inc. shares (NASDAQ:CYTK) to $85 from $84 while keeping a Buy rating, according to the firm's latest published view. The stock was trading at $70.10, close to a 52-week high of $70.98, and has climbed roughly 89% over the past six months.
The research team noted that Cytokinetics provided limited disclosure on the commercial launch of Myqorzo in its fourth-quarter 2025 update, reflecting that the product only became commercially available in late January. Needham said it expects two to three quarters will be required to evaluate how Myqorzo's initial market performance compares with Camzyos, which produced about $53 million in sales in its first four quarters on the market.
Needham identifies the ACACIA-HCM Phase 3 readout in non-obstructive hypertrophic cardiomyopathy, expected in the second quarter of 2026, as the company's key near-term catalyst. The firm notes the trial could extend Myqorzo's addressable market into non-obstructive hypertrophic cardiomyopathy and provide clinical differentiation versus Camzyos.
Analysts remain generally bullish on the roughly $8.57 billion company, with a continued strong buy consensus across the coverage universe. At the same time, InvestingPro data referenced by the firm suggests the stock may be trading above intrinsic levels at current prices. Needham also highlights that its model and valuation do not yet include any Myqorzo sales in non-obstructive hypertrophic cardiomyopathy, and the modest increase in the price target primarily reflects minor model adjustments.
Needham expects ACACIA-HCM results in early second quarter 2026 and describes success in the trial as likely to hinge on meeting one or both of the study's dual primary endpoints - the Kansas City Cardiomyopathy Questionnaire (KCCQ) or peak oxygen uptake (pVO2).
Other recent analyst and strategic developments for Cytokinetics include a series of price target moves and coverage decisions:
- Citizens lifted its target to $96 and kept a Market Outperform rating, citing progress ahead of the ACACIA-HCM readout.
- B.Riley reiterated a Buy rating with an $108 price target, highlighting Myqorzo's potential to capture market share in the cardiac myosin inhibitor class.
- Barclays initiated coverage with an Overweight rating and a price target of $87, noting advantages tied to Myqorzo's differentiated label.
- Truist Securities maintained a Buy rating with an $84 target and pointed to a growing clinical preference for Myqorzo over Bristol Myers Squibb's Camzyos for new hypertrophic cardiomyopathy patient starts.
- Jefferies increased its price target to $90 and stressed the importance of the Phase 3 ACACIA study in non-obstructive hypertrophic cardiomyopathy.
Collectively, these analyst moves and the company disclosures underscore a market and strategic focus on Myqorzo's launch trajectory and the outcome of the upcoming ACACIA-HCM trial as central to Cytokinetics' near-term outlook.