CymaBay Therapeutics Inc (NASDAQ:CBAY) has received a consensus rating of “Buy” from the twelve analysts that are covering the firm, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a sell rating, nine have given a buy rating and one has given a strong buy rating to the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $21.88.
Several research firms have issued reports on CBAY. BidaskClub downgraded shares of CymaBay Therapeutics from a “hold” rating to a “sell” rating in a report on Tuesday, July 31st. Piper Jaffray Companies increased their price objective on shares of CymaBay Therapeutics to $30.00 and gave the company an “overweight” rating in a report on Friday, August 10th. Raymond James began coverage on shares of CymaBay Therapeutics in a report on Thursday, June 28th. They set an “outperform” rating and a $20.00 price objective on the stock. Oppenheimer set a $20.00 price objective on shares of CymaBay Therapeutics and gave the company a “buy” rating in a report on Thursday, August 9th. Finally, Zacks Investment Research downgraded shares of CymaBay Therapeutics from a “hold” rating to a “sell” rating in a report on Tuesday, July 10th.
In other news, VP Daniel Menold sold 5,000 shares of the firm’s stock in a transaction dated Wednesday, August 29th. The shares were sold at an average price of $13.00, for a total value of $65,000.00. Following the transaction, the vice president now directly owns 5,000 shares of the company’s stock, valued at $65,000. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 4.50% of the company’s stock.
Several large investors have recently bought and sold shares of CBAY. Wells Fargo & Company MN lifted its stake in shares of CymaBay Therapeutics by 34.7% in the first quarter. Wells Fargo & Company MN now owns 52,723 shares of the biopharmaceutical company’s stock worth $685,000 after buying an additional 13,577 shares in the last quarter. Schwab Charles Investment Management Inc. raised its stake in CymaBay Therapeutics by 63.4% during the first quarter. Schwab Charles Investment Management Inc. now owns 20,365 shares of the biopharmaceutical company’s stock worth $265,000 after purchasing an additional 7,900 shares during the period. Northern Trust Corp raised its stake in CymaBay Therapeutics by 33.7% during the first quarter. Northern Trust Corp now owns 113,849 shares of the biopharmaceutical company’s stock worth $1,479,000 after purchasing an additional 28,725 shares during the period. BlackRock Inc. raised its stake in CymaBay Therapeutics by 69.3% during the first quarter. BlackRock Inc. now owns 1,169,203 shares of the biopharmaceutical company’s stock worth $15,187,000 after purchasing an additional 478,524 shares during the period. Finally, JPMorgan Chase & Co. purchased a new position in CymaBay Therapeutics during the first quarter worth about $491,000. 95.48% of the stock is currently owned by hedge funds and other institutional investors.
CBAY opened at $10.18 on Friday. The firm has a market cap of $654.30 million, a price-to-earnings ratio of -12.89 and a beta of 2.01. CymaBay Therapeutics has a 52-week low of $7.63 and a 52-week high of $15.59.
CymaBay Therapeutics (NASDAQ:CBAY) last posted its quarterly earnings data on Friday, August 10th. The biopharmaceutical company reported ($0.29) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.25) by ($0.04). As a group, equities research analysts predict that CymaBay Therapeutics will post -1.19 EPS for the current year.
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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