Oppenheimer Analysts Give CymaBay Therapeutics (NASDAQ:CBAY) a $12.00 Price Target

CymaBay Therapeutics (NASDAQ:CBAY) has been given a $12.00 price target by equities research analysts at Oppenheimer in a report released on Tuesday, TipRanks reports. The brokerage presently has a “buy” rating on the biopharmaceutical company’s stock. Oppenheimer’s price target would suggest a potential upside of 98.35% from the company’s current price.

Several other equities analysts also recently weighed in on the company. Piper Jaffray Companies set a $8.00 price objective on CymaBay Therapeutics and gave the company a “buy” rating in a research note on Tuesday. ValuEngine downgraded CymaBay Therapeutics from a “strong-buy” rating to a “buy” rating in a research report on Friday. BidaskClub downgraded CymaBay Therapeutics from a “buy” rating to a “hold” rating in a research report on Thursday, May 30th. Zacks Investment Research downgraded CymaBay Therapeutics from a “buy” rating to a “hold” rating in a research report on Tuesday, May 14th. Finally, Citigroup began coverage on CymaBay Therapeutics in a research report on Tuesday, May 14th. They set a “buy” rating and a $21.00 price target for the company. Four equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $15.88.

NASDAQ CBAY traded down $5.04 during mid-day trading on Tuesday, hitting $6.05. The stock had a trading volume of 17,539,459 shares, compared to its average volume of 919,755. CymaBay Therapeutics has a 52-week low of $4.82 and a 52-week high of $15.00. The company has a market capitalization of $790.67 million, a P/E ratio of -4.80 and a beta of 1.73. The company has a debt-to-equity ratio of 0.01, a current ratio of 18.66 and a quick ratio of 18.66.

CymaBay Therapeutics (NASDAQ:CBAY) last released its quarterly earnings data on Wednesday, May 8th. The biopharmaceutical company reported ($0.37) earnings per share for the quarter, missing the consensus estimate of ($0.34) by ($0.03). On average, research analysts expect that CymaBay Therapeutics will post -1.48 earnings per share for the current fiscal year.

A number of institutional investors have recently added to or reduced their stakes in CBAY. Advisor Group Inc. increased its position in CymaBay Therapeutics by 281.9% during the first quarter. Advisor Group Inc. now owns 2,601 shares of the biopharmaceutical company’s stock worth $35,000 after buying an additional 1,920 shares in the last quarter. Meeder Asset Management Inc. increased its position in CymaBay Therapeutics by 307.3% during the first quarter. Meeder Asset Management Inc. now owns 2,839 shares of the biopharmaceutical company’s stock worth $38,000 after buying an additional 2,142 shares in the last quarter. Pearl River Capital LLC purchased a new position in CymaBay Therapeutics during the fourth quarter worth $74,000. D. E. Shaw & Co. Inc. purchased a new position in CymaBay Therapeutics during the fourth quarter worth $82,000. Finally, PNC Financial Services Group Inc. increased its position in CymaBay Therapeutics by 23.1% during the fourth quarter. PNC Financial Services Group Inc. now owns 13,120 shares of the biopharmaceutical company’s stock worth $104,000 after buying an additional 2,460 shares in the last quarter. 99.53% 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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Analyst Recommendations for CymaBay Therapeutics (NASDAQ:CBAY)

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