Shares of CymaBay Therapeutics Inc (NASDAQ:CBAY) have been given an average rating of “Buy” by the twelve ratings firms that are covering the stock, MarketBeat reports. Two research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $21.88.
A number of research firms have weighed in on CBAY. Zacks Investment Research raised CymaBay Therapeutics from a “sell” rating to a “hold” rating in a report on Monday. BidaskClub raised CymaBay Therapeutics from a “sell” rating to a “hold” rating in a report on Friday, November 2nd. Oppenheimer set a $20.00 target price on CymaBay Therapeutics and gave the company a “buy” rating in a report on Friday, October 5th. Piper Jaffray Companies lifted their target price on CymaBay Therapeutics to $30.00 and gave the company an “overweight” rating in a report on Friday, August 10th. Finally, Cantor Fitzgerald reaffirmed a “buy” rating and set a $16.00 target price on shares of CymaBay Therapeutics in a report on Thursday, August 9th.
CBAY stock opened at $10.91 on Wednesday. The stock has a market cap of $668.48 million, a price-to-earnings ratio of -13.81 and a beta of 1.89. CymaBay Therapeutics has a twelve month low of $7.63 and a twelve month high of $15.59.
CymaBay Therapeutics (NASDAQ:CBAY) last posted its earnings results on Friday, August 10th. The biopharmaceutical company reported ($0.29) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.25) by ($0.04). As a group, equities research analysts expect that CymaBay Therapeutics will post -1.19 earnings per share for the current fiscal year.
In other CymaBay Therapeutics news, CEO Sujal Shah acquired 5,000 shares of the business’s stock in a transaction dated Monday, October 15th. The stock was bought at an average price of $9.90 per share, with a total value of $49,500.00. Following the completion of the acquisition, the chief executive officer now owns 100,000 shares of the company’s stock, valued at $990,000. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 4.50% of the stock is currently owned by insiders.
Several hedge funds and other institutional investors have recently modified their holdings of CBAY. Wells Fargo & Company MN grew its holdings in shares of CymaBay Therapeutics by 34.7% during the first quarter. Wells Fargo & Company MN now owns 52,723 shares of the biopharmaceutical company’s stock worth $685,000 after purchasing an additional 13,577 shares in the last quarter. Schwab Charles Investment Management Inc. grew its holdings in shares of CymaBay Therapeutics by 63.4% during the first quarter. Schwab Charles Investment Management Inc. now owns 20,365 shares of the biopharmaceutical company’s stock worth $265,000 after purchasing an additional 7,900 shares in the last quarter. Northern Trust Corp grew its holdings in shares of CymaBay Therapeutics by 33.7% during the first quarter. Northern Trust Corp now owns 113,849 shares of the biopharmaceutical company’s stock worth $1,479,000 after purchasing an additional 28,725 shares in the last quarter. BlackRock Inc. grew its holdings in shares of CymaBay Therapeutics by 69.3% during the first quarter. BlackRock Inc. now owns 1,169,203 shares of the biopharmaceutical company’s stock worth $15,187,000 after purchasing an additional 478,524 shares in the last quarter. Finally, JPMorgan Chase & Co. bought a new stake in CymaBay Therapeutics in the 1st quarter worth approximately $491,000. 95.69% of the stock is owned by institutional investors.
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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