BidaskClub upgraded shares of CymaBay Therapeutics (NASDAQ:CBAY) from a hold rating to a buy rating in a report published on Wednesday.
Several other equities research analysts have also weighed in on CBAY. Zacks Investment Research lowered CymaBay Therapeutics from a hold rating to a sell rating in a report on Tuesday, May 22nd. Oppenheimer set a $20.00 target price on CymaBay Therapeutics and gave the stock a buy rating in a report on Wednesday, May 9th. ValuEngine upgraded CymaBay Therapeutics from a buy rating to a strong-buy rating in a report on Wednesday, May 2nd. Piper Jaffray Companies restated a buy rating and issued a $16.00 target price on shares of CymaBay Therapeutics in a report on Friday, March 16th. Finally, HC Wainwright began coverage on CymaBay Therapeutics in a report on Wednesday, March 28th. They issued a buy rating and a $18.00 target price for the company. One research analyst has rated the stock with a sell rating, twelve have given a buy rating and one has assigned a strong buy rating to the company’s stock. CymaBay Therapeutics presently has an average rating of Buy and an average target price of $18.78.
Shares of CymaBay Therapeutics opened at $11.36 on Wednesday, MarketBeat.com reports. The stock has a market cap of $719.92 million, a PE ratio of -14.38 and a beta of 2.08. The company has a debt-to-equity ratio of 0.01, a current ratio of 12.91 and a quick ratio of 12.91. CymaBay Therapeutics has a 52-week low of $3.95 and a 52-week high of $15.59.
CymaBay Therapeutics (NASDAQ:CBAY) last announced its quarterly earnings results on Wednesday, May 9th. The biopharmaceutical company reported ($0.32) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.14) by ($0.18). equities analysts expect that CymaBay Therapeutics will post -1.15 earnings per share for the current fiscal year.
In other CymaBay Therapeutics news, Director Kurt Von Emster sold 13,353 shares of CymaBay Therapeutics stock in a transaction that occurred on Monday, March 5th. The stock was sold at an average price of $15.51, for a total value of $207,105.03. Following the transaction, the director now directly owns 90,000 shares of the company’s stock, valued at approximately $1,395,900. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Sujal Shah purchased 5,000 shares of the company’s stock in a transaction on Friday, May 11th. The stock was acquired at an average cost of $10.65 per share, for a total transaction of $53,250.00. Following the completion of the transaction, the chief executive officer now owns 90,000 shares in the company, valued at $958,500. The disclosure for this purchase can be found here. Insiders own 4.50% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the business. Hillsdale Investment Management Inc. bought a new position in CymaBay Therapeutics in the 1st quarter worth approximately $104,000. LPL Financial LLC bought a new position in CymaBay Therapeutics in the 1st quarter worth approximately $130,000. Quantbot Technologies LP bought a new position in CymaBay Therapeutics in the 1st quarter worth approximately $155,000. Schwab Charles Investment Management Inc. bought a new position in CymaBay Therapeutics in the 4th quarter worth approximately $115,000. Finally, DRW Securities LLC increased its position in CymaBay Therapeutics by 41.7% in the 1st quarter. DRW Securities LLC now owns 17,000 shares of the biopharmaceutical company’s stock worth $221,000 after buying an additional 5,000 shares during the period. 82.05% of the stock is currently owned by institutional investors.
About CymaBay Therapeutics
CymaBay Therapeutics, Inc, a clinical-stage biopharmaceutical company, focuses on developing and providing therapies to treat liver and other chronic diseases. Its lead product candidate is seladelpar, a selective agonist of peroxisome proliferator-activated receptor delta, which has completed Phase II clinical study for the treatment of primary biliary cholangitis, as well as patients with nonalcoholic steatohepatitis.
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