Stock Picks: Make Muscles to Work: Cytokinetics (CYTK)

October 5, 2020, 10:42 pm EDT

Make Muscles to Work: Cytokinetics (CYTK)

Biotech and biopharmaceuticals stocks rose up strongly today. Its ETF XBI is up +5%. 

Especially, Bristol Myers Squibb (BMY) announced a $13.1 billions acquisition on Myokardia (MYOK) with 61% premium price. Its first-in-class Cardiovascular drug made the deal. Thus, another biopharmaceutical, Cytokinetics (CYTK) is up +17% in similar expectation that could become an acquisition target. 

Its pipeline consists of many late stages muscles treatment as shown. 

Stock price pattern shows gap-ups (05/12 and 10/05) with heavy institutional accumulation. Ideal entry point will be around 27 during pullback.

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