12 Most Oversold Healthcare Stocks to Buy Now

7. Cytokinetics, Incorporated (NASDAQ:CYTK)

Year Perf: -40.09%

Analyst Upside: 66.41%

Number of Hedge Fund Holders: 61

Cytokinetics, Incorporated (NASDAQ:CYTK) is a biopharmaceutical company that discovers, develops, and commercializes muscle inhibitors as treatments for diseases that affect muscle performance. It develops small-molecule drug candidates particularly engineered to affect muscle function and contractility. Its clinical-stage drug candidate portfolio includes omecamtiv mecarbil, a novel cardiac myosin activator, CK-136, a novel cardiac troponin activator, reldesemtiv, a novel fast skeletal muscle troponin activator, aficamten, a novel cardiac myosin inhibitor, and CK-3772271, a novel cardiac myosin inhibitor.

Cytokinetics, Incorporated (NASDAQ:CYTK) is financially well-positioned. As of September 30, 2024, it has around $1.3 billion in cash and cash equivalents and investments, which supports the execution of its commercial strategies and pipeline development.

The company recently announced its ‘Vision 2030’ plan built on a strong 5-year roadmap focusing on significantly enhancing immediate and future value. A significant component of these plans is the anticipated FDA approval and commercial launch of aficamten (afi) in 2025. The launch of this leading asset holds the potential to bolster Cytokinetics, Incorporated’s (NASDAQ:CYTK) position in the hypertrophic cardiomyopathy (HCM) market. Cytokinetics, Incorporated (NASDAQ:CYTK) has plans to continue the go-to-market goals for aficamten in Germany in 2025. It also aims to expand commercial readiness activities in Europe this year to prepare for the expected approval by the European Medicines Agency (EMA) in H1 2026.