CymaBay Therapeutics (NASDAQ:CBAY) Receives New Coverage from Analysts at StockNews.com

Equities researchers at StockNews.com assumed coverage on shares of CymaBay Therapeutics (NASDAQ:CBAY – Get Rating) in a research note issued to investors on Thursday. The brokerage set a “hold” rating on the biopharmaceutical company’s stock.

A number of other research analysts have also issued reports on the company. BTIG Research began coverage on CymaBay Therapeutics in a research report on Thursday, March 9th. They set a “buy” rating and a $15.00 price target for the company. Raymond James boosted their price objective on CymaBay Therapeutics from $14.00 to $17.00 and gave the stock a “strong-buy” rating in a research note on Tuesday, January 17th. SVB Leerink boosted their price objective on CymaBay Therapeutics from $10.00 to $12.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 8th. Cantor Fitzgerald boosted their price objective on CymaBay Therapeutics from $10.00 to $13.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 31st. Finally, Oppenheimer boosted their price objective on CymaBay Therapeutics from $10.00 to $12.00 and gave the stock an “outperform” rating in a research note on Tuesday, March 7th. One analyst has rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, CymaBay Therapeutics presently has a consensus rating of “Buy” and an average price target of $13.50.

CymaBay Therapeutics Stock Performance

CBAY stock traded up $0.45 during trading on Thursday, reaching $9.59. 4,305,087 shares of the company’s stock were exchanged, compared to its average volume of 1,715,369. The company has a quick ratio of 12.20, a current ratio of 12.20 and a debt-to-equity ratio of 1.43. CymaBay Therapeutics has a 1-year low of $1.67 and a 1-year high of $10.05. The company’s fifty day moving average price is $7.97 and its 200-day moving average price is $5.31. The firm has a market cap of $812.09 million, a PE ratio of -7.93 and a beta of 0.29.

CymaBay Therapeutics (NASDAQ:CBAY – Get Rating) last announced its quarterly earnings results on Thursday, March 16th. The biopharmaceutical company reported ($0.30) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.30). During the same period last year, the business posted ($0.34) EPS. On average, research analysts expect that CymaBay Therapeutics will post -1.22 EPS for the current fiscal year.

Institutional Investors Weigh In On CymaBay Therapeutics

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Rafferty Asset Management LLC raised its position in shares of CymaBay Therapeutics by 15.7% during the second quarter. Rafferty Asset Management LLC now owns 27,810 shares of the biopharmaceutical company’s stock worth $82,000 after purchasing an additional 3,768 shares during the period. Geode Capital Management LLC raised its position in shares of CymaBay Therapeutics by 0.6% during the fourth quarter. Geode Capital Management LLC now owns 789,914 shares of the biopharmaceutical company’s stock worth $4,952,000 after purchasing an additional 4,949 shares during the period. Dorsey Wright & Associates acquired a new stake in shares of CymaBay Therapeutics during the fourth quarter worth $39,000. Royal Bank of Canada raised its position in shares of CymaBay Therapeutics by 506.5% during the third quarter. Royal Bank of Canada now owns 7,581 shares of the biopharmaceutical company’s stock worth $27,000 after purchasing an additional 6,331 shares during the period. Finally, Price T Rowe Associates Inc. MD raised its position in shares of CymaBay Therapeutics by 11.0% during the second quarter. Price T Rowe Associates Inc. MD now owns 122,200 shares of the biopharmaceutical company’s stock worth $360,000 after purchasing an additional 12,077 shares during the period. 73.54% of the stock is owned by institutional investors and hedge funds.

CymaBay Therapeutics Company Profile

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CymaBay Therapeutics, Inc engages in the provision and development of access to therapies for patients with liver and other chronic diseases with high unmet medical needs. Its products pipeline includes Seladelpar, MBX-2982, CB-0406, and CB-001. The company was founded on October 5, 1988 and is headquartered in Newark, CA.