CymaBay Therapeutics Inc. (CBAY) Receives Average Recommendation of “Buy” from Analysts
Shares of CymaBay Therapeutics Inc. (NASDAQ:CBAY) have received a consensus recommendation of “Buy” from the eleven analysts that are covering the firm, Marketbeat.com reports. One analyst has rated the stock with a sell rating, one has given a hold rating and nine have given a buy rating to the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $13.71.
A number of research firms recently commented on CBAY. Piper Jaffray Companies reaffirmed an “overweight” rating and set a $12.00 price target on shares of CymaBay Therapeutics in a research report on Tuesday, July 25th. Oppenheimer Holdings, Inc. raised their price target on shares of CymaBay Therapeutics from $8.00 to $15.00 and gave the stock an “outperform” rating in a research report on Thursday, July 20th. Citigroup Inc. reissued an “outperform” rating and issued a $15.00 target price (up from $8.00) on shares of CymaBay Therapeutics in a report on Thursday, July 20th. Ifs Securities reissued a “strong-buy” rating on shares of CymaBay Therapeutics in a report on Monday, July 17th. Finally, CIBC reissued an “outperform” rating and issued a $15.00 target price (up from $8.00) on shares of CymaBay Therapeutics in a report on Thursday, July 20th.
Shares of CymaBay Therapeutics (NASDAQ CBAY) opened at 6.10 on Friday. The firm’s market capitalization is $266.91 million. CymaBay Therapeutics has a 12 month low of $1.15 and a 12 month high of $8.29. The stock’s 50 day moving average is $6.80 and its 200 day moving average is $4.94.
CymaBay Therapeutics (NASDAQ:CBAY) last released its quarterly earnings results on Thursday, August 10th. The biopharmaceutical company reported ($0.31) EPS for the quarter, missing analysts’ consensus estimates of ($0.25) by $0.06. Equities research analysts forecast that CymaBay Therapeutics will post ($0.80) earnings per share for the current fiscal year.
In other news, insider Sujal Shah bought 10,000 shares of the firm’s stock in a transaction on Thursday, July 20th. The shares were purchased at an average cost of $7.34 per share, with a total value of $73,400.00. Following the acquisition, the insider now directly owns 75,891 shares in the company, valued at $557,039.94. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Also, SVP Charles Mcwherter bought 5,000 shares of the firm’s stock in a transaction on Thursday, July 20th. The stock was purchased at an average cost of $7.43 per share, for a total transaction of $37,150.00. Following the completion of the acquisition, the senior vice president now owns 5,100 shares in the company, valued at $37,893. The disclosure for this purchase can be found here. Over the last three months, insiders acquired 20,000 shares of company stock worth $144,750. Insiders own 15.10% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the business. TFS Capital LLC acquired a new stake in shares of CymaBay Therapeutics in the 1st quarter valued at approximately $169,000. Boxer Capital LLC acquired a new stake in shares of CymaBay Therapeutics in the 1st quarter valued at approximately $3,342,000. ClariVest Asset Management LLC acquired a new stake in shares of CymaBay Therapeutics in the 1st quarter valued at approximately $105,000. Acadian Asset Management LLC acquired a new stake in shares of CymaBay Therapeutics in the 1st quarter valued at approximately $129,000. Finally, LVM Capital Management Ltd. MI boosted its stake in shares of CymaBay Therapeutics by 100.0% in the 2nd quarter. LVM Capital Management Ltd. MI now owns 20,000 shares of the biopharmaceutical company’s stock valued at $115,000 after purchasing an additional 10,000 shares in the last quarter. 25.80% of the stock is currently owned by hedge funds and other institutional investors.
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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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