Capitalcube gives Cytokinetics, Inc. a score of 82.
Our analysis is based on comparing Cytokinetics, Inc. with the following peers – GTx, Inc., ARCA biopharma, Inc., Ligand Pharmaceuticals Incorporated, Trevena, Inc., Acorda Therapeutics, Inc., Eiger BioPharmaceuticals, Inc., Array BioPharma Inc., ArQule, Inc. and Amgen Inc. (GTXI-US, ABIO-US, LGND-US, TRVN-US, ACOR-US, EIGR-US, ARRY-US, ARQL-US and AMGN-US).
Cytokinetics, Inc. has a fundamental score of 82 and has a relative valuation of NEUTRAL.
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- Considering peers, relative outperformance over the last year and the last month suggest a leading position.
- It currently trades at a Price/Book ratio of (7.25).
- CYTK-US outperforms its peers with a relatively high operating performance and the market also expects faster growth relative to its peers
- CYTK-US has a successful operating model with relatively high net profit margins and asset turns.
- The company’s year-on-year change in revenues and earnings are better than the median among its peer group.
- Over the last five years, CYTK-US‘s return on assets has improved from median to better than the median among its peers, suggesting the company has found relative operating advantages.
- Compared with the peers chosen, CYTK-US has had faster revenue growth in prior years and a current P/E ratio that suggests faster growth in the future suggesting superior growth expectations.
- The company’s level of capital investment suggests it might be under-investing in a business with above median returns.
- CYTK-US‘s operating performance may not allow it to raise additional debt.
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Leverage & Liquidity
CYTK-US would seem to have a hard time raising additional debt.
- With debt at 25.92% of its enterprise value compared to an overall benchmark of 25% (Note: The peer median is currently 22.01%), and relatively tight interest coverage level of 0.56x, CYTK-US would have a hard time raising much additional debt.
- Of the 9 chosen peers for the company, only 7 of the stocks have an outstanding debt balance. Companies with no debt include GTXI-US and ABIO-US.
CYTK-US has moved to a relatively low liquidity from an Quick & Able profile at the recent year-end.
- CYTK-US‘s interest coverage is greater than (but within one standard deviation of) its five-year average interest coverage of -4,850.47x.
- The decrease in its interest coverage to 0.56x from 5.26x (in 2016) was also accompanied by a decrease in its peer median during this period to -0.01x from 4.47x.
- CYTK-US‘s debt-EV is its highest relative to the last five years and compares to a low of 0% in 2014.
- The increase in its debt-EV to 25.92% from 8.13% (in 2016) was also accompanied by an increase in its peer median during this period to 22.01% from 9.51%.
- Relative to peers, debt-EV rose 5.29 percentage points (and is now higher than its peer median). Unlike the peer median, it is also above the 25% leverage benchmark.
Access the detailed analysis for Cytokinetics, Inc.
Key Liquidity Items
|Company||Debt/Enterprise Value (%)||Current Ratio||Interest Coverage (x)||Cash Flow To Total Debt (%)|
|GTx, Inc.||0||3.94||No interest exp||999|
|ARCA biopharma, Inc.||0||7.88||No interest exp||999|
|Ligand Pharmaceuticals Incorporated||10.53||0.77||3.28||29.04|
|Acorda Therapeutics, Inc.||32.11||2.39||-0.59||6.4|
|Eiger BioPharmaceuticals, Inc.||24.03||12.09||-66.84||-279.22|
|Array BioPharma Inc.||9.11||3.47||-8.2||-70.39|
|Best In Class||9.11||12.09||No interest exp||999|
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Cytokinetics, Inc. operates as a biopharmaceutical company, which focuses on the discovery and development of muscle activators as potential treatment for debilitating diseases. It conducts a Phase 2 clinical trials program for tirasemtiv, including a Phase 2b clinical trial in patients with ALS, known as BENEFIT-ALS (Blinded Evaluation of Neuromuscular Effects and Functional Improvement with Tirasemtiv in ALS). The company was founded on August 5, 1997 and is headquartered in South San Francisco, CA.
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