Truist Securities has restated its Buy recommendation on Cytokinetics (NASDAQ:CYTK) and retained an $84.00 price target, a level the firm says represents approximately a 28% upside from the then-current share price of $65.64. According to the firm, this view is consistent with the broader analyst community assessment of "Strong Buy" as captured by InvestingPro data.
In conversations with clinicians and other market influencers, Truist reports an increasing clinical preference for Myqorzo - the commercial name for aficamten - when compared with Bristol Myers Squibb's Camzyos. That preference appears most pronounced among physicians initiating new hypertrophic cardiomyopathy (HCM) patients on therapy, the firm says, based on analyst feedback.
Truist contrasts its latest readouts with earlier key opinion leader (KOL) checks that had been broadly supportive of Camzyos as the only approved cardiac myosin inhibitor (CMI) at the time. The bank now highlights emerging signals that a differentiated label for aficamten could shift physician choice toward Myqorzo.
The firm views the favorable KOL commentary as supportive of its $3.7 billion worldwide peak sales projection for Cytokinetics, and notes that this estimate sits in line with consensus projections tracked by analysts. Truist also documents that many KOLs expect beta-blockers to retain a role within the HCM treatment pathway, even as a substantial portion of patients are anticipated to progress to CMIs over time.
Recent regulatory developments are central to the current market focus on Cytokinetics. The company attracted heightened attention after the U.S. Food and Drug Administration approved Myqorzo for obstructive hypertrophic cardiomyopathy (oHCM). The approval came with a differentiated Risk Evaluation and Mitigation Strategy (REMS), and that regulatory profile has prompted multiple analyst firms to update their valuation models and price targets for the company.
Among the brokerage adjustments cited by Truist are:
- H.C. Wainwright raising its target to $136, specifically noting the lack of drug-drug interaction screening requirements in the approval.
- Needham increasing its target to $84 and pointing to the planned January launch of Myqorzo at a competitive price point.
- RBC Capital setting a $95 target while emphasizing a favorable label and what it describes as flexible dosing options.
- Citizens moving its target to $88 and focusing on approval features that distinguish Myqorzo from similar therapies.
- Jefferies lifting its target to $90 and citing expected results from the Phase 3 ACACIA study in non-obstructive HCM (nHCM) as an important upcoming data point.
Truist frames these analyst reactions as reflective of a broadly positive outlook on Cytokinetics following the FDA decision, and it points to the combination of label differentiation, dosing flexibility and REMS features as contributors to refreshed market expectations. At the same time, the firm retains a measured view that beta-blockers will continue to play a role in HCM care for many patients even as adoption of CMIs grows.
Collectively, the continued analyst coverage and revised price targets underscore how regulatory outcomes and perceived label advantages are shaping near-term market sentiment toward Cytokinetics. Truist's reiterated Buy and $84 target, supported by reported KOL enthusiasm and its $3.7 billion peak sales estimate, remain the firm's baseline for valuation and investor guidance.
Key points
- Truist Securities reaffirmed a Buy rating and $84 price target on Cytokinetics, implying about 28% upside from a stated share price of $65.64 - sectors impacted: biotech, capital markets.
- Analyst feedback indicates a rising clinical preference for Myqorzo versus Camzyos among new HCM patient starts, with label differentiation cited as a possible driver - sectors impacted: healthcare, cardiology.
- Multiple brokerages have updated their targets following FDA approval of Myqorzo with a differentiated REMS, reflecting broad analyst optimism - sectors impacted: biotech, healthcare equities.
Risks and uncertainties
- Physician uptake is still evolving - while Truist reports emerging preference signals for Myqorzo, real-world adoption may vary and will influence commercial outcomes - sectors affected: healthcare providers, pharmaceutical markets.
- Competition and treatment paradigms remain in flux - many KOLs expect beta-blockers to keep a place in HCM therapy even as CMIs gain use, which could affect penetration rates and sales trajectories - sectors affected: cardiology therapeutics, medical prescribing patterns.
- Analyst price targets differ materially across firms, indicating model sensitivity to assumptions about label impact, dosing flexibility and study outcomes such as ACACIA - sectors affected: equity research, investment community.