Shares of CymaBay Therapeutics (NASDAQ:CBAY) have received a consensus recommendation of “Buy” from the fourteen research firms that are currently covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, twelve have issued a buy rating and one has given a strong buy rating to the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $18.78.
Several analysts have issued reports on the stock. BidaskClub upgraded shares of CymaBay Therapeutics from a “hold” rating to a “buy” rating in a research report on Wednesday. Zacks Investment Research lowered shares of CymaBay Therapeutics from a “hold” rating to a “sell” rating in a report on Tuesday. Oppenheimer set a $20.00 target price on shares of CymaBay Therapeutics and gave the stock a “buy” rating in a report on Wednesday, May 9th. ValuEngine upgraded shares of CymaBay Therapeutics from a “buy” rating to a “strong-buy” rating in a report on Wednesday, May 2nd. Finally, HC Wainwright increased their target price on shares of CymaBay Therapeutics to $21.00 and gave the stock a “buy” rating in a report on Friday, April 13th.
In related news, CEO Sujal Shah purchased 5,000 shares of the firm’s stock in a transaction that occurred on Friday, May 11th. The stock was bought at an average cost of $10.65 per share, with a total value of $53,250.00. Following the completion of the purchase, the chief executive officer now directly owns 90,000 shares in the company, valued at $958,500. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Carl Goldfischer sold 15,000 shares of the stock in a transaction dated Thursday, March 22nd. The stock was sold at an average price of $13.03, for a total transaction of $195,450.00. Following the completion of the transaction, the director now directly owns 9,340 shares of the company’s stock, valued at $121,700.20. The disclosure for this sale can be found here. Corporate insiders own 4.50% of the company’s stock.
A number of hedge funds have recently added to or reduced their stakes in CBAY. Farallon Capital Management LLC bought a new position in CymaBay Therapeutics in the fourth quarter worth about $10,120,000. Millennium Management LLC raised its stake in CymaBay Therapeutics by 1,666.5% in the first quarter. Millennium Management LLC now owns 1,160,275 shares of the biopharmaceutical company’s stock worth $15,072,000 after buying an additional 1,094,594 shares in the last quarter. Foresite Capital Management III LLC raised its stake in CymaBay Therapeutics by 160.3% in the first quarter. Foresite Capital Management III LLC now owns 1,562,040 shares of the biopharmaceutical company’s stock worth $20,291,000 after buying an additional 962,040 shares in the last quarter. Redmile Group LLC raised its stake in CymaBay Therapeutics by 47.6% in the first quarter. Redmile Group LLC now owns 2,955,565 shares of the biopharmaceutical company’s stock worth $38,393,000 after buying an additional 953,300 shares in the last quarter. Finally, UBS Asset Management Americas Inc. bought a new position in CymaBay Therapeutics in the fourth quarter worth about $5,423,000. 82.05% of the stock is owned by institutional investors.
CymaBay Therapeutics traded up $0.28, hitting $12.68, during trading on Wednesday, according to Marketbeat. 292,050 shares of the company’s stock traded hands, compared to its average volume of 1,038,544. The company has a quick ratio of 12.91, a current ratio of 12.91 and a debt-to-equity ratio of 0.01. CymaBay Therapeutics has a 12-month low of $3.88 and a 12-month high of $15.59. The firm has a market cap of $734.02 million, a price-to-earnings ratio of -16.05 and a beta of 2.08.
CymaBay Therapeutics (NASDAQ:CBAY) last posted its quarterly earnings results on Wednesday, May 9th. The biopharmaceutical company reported ($0.32) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.14) by ($0.18). equities analysts expect that CymaBay Therapeutics will post -1.12 earnings per share for the current fiscal 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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