CymaBay Therapeutics (NASDAQ:CBAY) was upgraded by research analysts at BidaskClub from a “buy” rating to a “strong-buy” rating in a research report issued on Wednesday.
Several other brokerages have also recently issued reports on CBAY. Evercore ISI assumed coverage on shares of CymaBay Therapeutics in a research report on Tuesday, February 13th. They set an “outperform” rating on the stock. ValuEngine upgraded shares of CymaBay Therapeutics from a “sell” rating to a “hold” rating in a research report on Friday, February 2nd. Roth Capital reiterated a “buy” rating and set a $27.00 price target on shares of CymaBay Therapeutics in a research report on Thursday, January 25th. Zacks Investment Research upgraded shares of CymaBay Therapeutics from a “sell” rating to a “hold” rating in a research report on Friday, January 26th. Finally, HC Wainwright reiterated a “buy” rating and set a $18.00 price target (up previously from $12.00) on shares of CymaBay Therapeutics in a research report on Wednesday, January 24th. Two research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $16.56.
CymaBay Therapeutics (NASDAQ CBAY) opened at $14.59 on Wednesday. CymaBay Therapeutics has a 52-week low of $2.80 and a 52-week high of $15.49. The company has a debt-to-equity ratio of 0.04, a quick ratio of 7.39 and a current ratio of 7.39.
In other CymaBay Therapeutics news, Director Kurt Von Emster sold 4,300 shares of the company’s stock in a transaction dated Friday, January 5th. The shares were sold at an average price of $10.21, for a total value of $43,903.00. Following the sale, the director now owns 90,000 shares in the company, valued at $918,900. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In the last 90 days, insiders sold 964,787 shares of company stock worth $11,554,836. Corporate insiders own 15.10% of the company’s stock.
A number of institutional investors and hedge funds have recently made changes to their positions in CBAY. Perceptive Advisors LLC purchased a new stake in CymaBay Therapeutics in the third quarter worth about $18,948,000. Farallon Capital Management LLC purchased a new stake in CymaBay Therapeutics in the fourth quarter worth about $10,120,000. Citadel Advisors LLC purchased a new stake in CymaBay Therapeutics in the third quarter worth about $5,159,000. EAM Investors LLC purchased a new stake in CymaBay Therapeutics in the third quarter worth about $4,788,000. Finally, UBS Asset Management Americas Inc. purchased a new stake in CymaBay Therapeutics in the fourth quarter worth about $5,423,000. Institutional investors and hedge funds own 60.12% 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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