Evercore ISI initiated coverage on shares of CymaBay Therapeutics (NASDAQ:CBAY) in a report published on Tuesday, MarketBeat reports. The brokerage issued an outperform rating on the biopharmaceutical company’s stock.
Other analysts have also recently issued reports about the stock. ValuEngine raised shares of CymaBay Therapeutics from a sell rating to a hold rating in a report on Friday, February 2nd. Leerink Swann reaffirmed a buy rating and issued a $16.00 price target on shares of CymaBay Therapeutics in a report on Tuesday, November 28th. Roth Capital reaffirmed a buy rating and issued a $27.00 price target on shares of CymaBay Therapeutics in a report on Thursday, January 25th. Oppenheimer set a $15.00 price target on shares of CymaBay Therapeutics and gave the company a buy rating in a report on Monday, October 30th. Finally, Zacks Investment Research raised shares of CymaBay Therapeutics from a sell rating to a hold rating in a report on Friday, January 26th. Two analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. CymaBay Therapeutics presently has a consensus rating of Buy and a consensus target price of $16.56.
Shares of CymaBay Therapeutics (NASDAQ CBAY) opened at $14.98 on Tuesday. The stock has a market cap of $824.49, a price-to-earnings ratio of -14.69 and a beta of 2.36. The company has a quick ratio of 7.39, a current ratio of 7.39 and a debt-to-equity ratio of 0.04. CymaBay Therapeutics has a twelve month low of $2.56 and a twelve month high of $15.25.
In other CymaBay Therapeutics news, Director Kurt Von Emster sold 218,057 shares of the business’s stock in a transaction on Wednesday, February 14th. The shares were sold at an average price of $15.89, for a total transaction of $3,464,925.73. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In the last quarter, insiders have sold 964,787 shares of company stock valued at $11,554,836. 15.10% of the stock is owned by insiders.
A number of hedge funds have recently added to or reduced their stakes in the business. Perceptive Advisors LLC increased its stake in CymaBay Therapeutics by 14.2% during the fourth quarter. Perceptive Advisors LLC now owns 2,685,882 shares of the biopharmaceutical company’s stock valued at $24,710,000 after purchasing an additional 335,000 shares during the last quarter. Redmile Group LLC increased its stake in CymaBay Therapeutics by 21.6% during the fourth quarter. Redmile Group LLC now owns 2,002,265 shares of the biopharmaceutical company’s stock valued at $18,421,000 after purchasing an additional 355,165 shares during the last quarter. Farallon Capital Management LLC bought a new stake in CymaBay Therapeutics during the fourth quarter valued at $10,120,000. Vanguard Group Inc. increased its stake in CymaBay Therapeutics by 20.7% during the second quarter. Vanguard Group Inc. now owns 991,633 shares of the biopharmaceutical company’s stock valued at $5,712,000 after purchasing an additional 170,126 shares during the last quarter. Finally, Citadel Advisors LLC increased its stake in CymaBay Therapeutics by 8.5% during the fourth quarter. Citadel Advisors LLC now owns 694,252 shares of the biopharmaceutical company’s stock valued at $6,387,000 after purchasing an additional 54,225 shares during the last quarter. Hedge funds and other institutional investors own 54.80% of the company’s stock.
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About CymaBay Therapeutics
CymaBay Therapeutics, Inc is a clinical-stage biopharmaceutical company. The Company is focused on developing therapies to treat metabolic diseases, including serious rare and orphan diseases. The Company’s product candidates include Arhalofenate, MBX-8025 and MBX-2982. Arhalofenate is used to treat gout.
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