UPDATE: Rodman & Renshaw Maintains Outperform on Cytokinetics; $2 PT

Rodman & Renshaw reiterated an Outperform rating on Cytokinetics

and a target price of $2. Rodman & Renshaw wrote, “We expect management to provide further details on omecamtiv mecarbil's planned Phase II trials with oral formulations. Management announced last week that the company has selected oral formulations of omecamtiv mecarbil in order to advance the compound into Phase II clinical trials. The selection of oral compounds was based on data reviewed from the recently completed Phase I clinical trial, which was a randomized, open-label study designed to establish the bioavailability of oral formulations of omecamtiv mecarbil in healthy volunteers.” Cytokinetics closed at $0.73 on Monday.