Piper Jaffray reaffirmed their buy rating on shares of CymaBay Therapeutics (NASDAQ:CBAY) in a research report sent to investors on Friday, March 16th. Piper Jaffray currently has a $16.00 target price on the biopharmaceutical company’s stock.
CBAY has been the subject of a number of other reports. BidaskClub upgraded CymaBay Therapeutics from a buy rating to a strong-buy rating in a research report on Wednesday, February 21st. Oppenheimer set a $15.00 price target on CymaBay Therapeutics and gave the stock a buy rating in a research note on Wednesday, January 10th. HC Wainwright reaffirmed a buy rating and set a $12.00 price target on shares of CymaBay Therapeutics in a research note on Tuesday, November 28th. Zacks Investment Research downgraded CymaBay Therapeutics from a hold rating to a sell rating in a research note on Tuesday, January 16th. Finally, Evercore ISI initiated coverage on CymaBay Therapeutics in a research note on Tuesday, February 13th. They issued an outperform rating on the stock. One analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. The company has a consensus rating of Buy and a consensus price target of $17.78.
Shares of CBAY opened at $11.10 on Friday. CymaBay Therapeutics has a one year low of $3.16 and a one year high of $15.59. The firm has a market cap of $658.73, a PE ratio of -14.05 and a beta of 2.06. The company has a current ratio of 6.35, a quick ratio of 6.35 and a debt-to-equity ratio of 0.04.
CymaBay Therapeutics (NASDAQ:CBAY) last announced its earnings results on Thursday, March 15th. The biopharmaceutical company reported ($0.11) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.17) by $0.06. The firm had revenue of $5.20 million for the quarter, compared to the consensus estimate of $1.25 million. sell-side analysts anticipate that CymaBay Therapeutics will post -0.88 EPS for the current year.
In other news, Director Kurt Von Emster sold 138,253 shares of the business’s stock in a transaction on Monday, January 22nd. The stock was sold at an average price of $10.40, for a total transaction of $1,437,831.20. Following the completion of the sale, the director now owns 90,000 shares in the company, valued at $936,000. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Carl Goldfischer sold 15,000 shares of the business’s stock in a transaction on Thursday, March 22nd. The stock was sold at an average price of $13.03, for a total value of $195,450.00. Following the sale, the director now owns 9,340 shares of the company’s stock, valued at approximately $121,700.20. The disclosure for this sale can be found here. In the last quarter, insiders sold 815,648 shares of company stock valued at $10,283,751. Corporate insiders own 15.10% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Boothbay Fund Management LLC bought a new stake in CymaBay Therapeutics in the third quarter valued at about $404,000. Perceptive Advisors LLC acquired a new position in CymaBay Therapeutics in the third quarter valued at about $18,948,000. Bank of New York Mellon Corp grew its stake in CymaBay Therapeutics by 794.7% in the third quarter. Bank of New York Mellon Corp now owns 155,174 shares of the biopharmaceutical company’s stock valued at $1,251,000 after acquiring an additional 137,830 shares during the period. Ameriprise Financial Inc. acquired a new position in CymaBay Therapeutics in the third quarter valued at about $1,536,000. Finally, EAM Investors LLC acquired a new position in CymaBay Therapeutics in the third quarter valued at about $4,788,000. Institutional investors and hedge funds own 58.15% of the company’s stock.
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CymaBay Therapeutics Company Profile
Cymabay Therapeutics, Inc, a biopharmaceutical company, focuses on developing and commercializing therapies to treat specialty and orphan diseases. It engages in developing seladelpar (MBX-8025), a selective agonist of peroxisome proliferator-activated receptor delta, which has completed Phase 2 clinical study for the treatment of primary biliary cholangitis and homozygous familial hypercholesterolemia; and arhalofenate, which completed five Phase II clinical trials for the treatment of gout.
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