Cantor Fitzgerald Weighs in on CymaBay Therapeutics Inc.’s FY2017 Earnings (CBAY)
CymaBay Therapeutics Inc. (NASDAQ:CBAY) – Cantor Fitzgerald issued their FY2017 EPS estimates for shares of CymaBay Therapeutics in a report released on Tuesday. Cantor Fitzgerald analyst W. Tanner expects that the biopharmaceutical company will post earnings of ($0.93) per share for the year. Cantor Fitzgerald has a “Overweight” rating and a $16.00 price objective on the stock. Cantor Fitzgerald also issued estimates for CymaBay Therapeutics’ FY2018 earnings at ($0.95) EPS.
CymaBay Therapeutics (NASDAQ:CBAY) last announced its earnings results on Thursday, August 10th. The biopharmaceutical company reported ($0.31) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.25) by ($0.06). TRADEMARK VIOLATION WARNING: This report was originally posted by American Banking News and is the sole property of of American Banking News. If you are reading this report on another domain, it was illegally stolen and republished in violation of U.S. and international trademark & copyright legislation. The original version of this report can be accessed at https://www.americanbankingnews.com/2017/09/22/cantor-fitzgerald-weighs-in-on-cymabay-therapeutics-inc-s-fy2017-earnings-cbay.html.
CBAY has been the subject of several other research reports. Oppenheimer Holdings, Inc. initiated coverage on CymaBay Therapeutics in a research note on Friday, June 23rd. They set an “outperform” rating and a $8.00 target price for the company. ValuEngine raised CymaBay Therapeutics from a “sell” rating to a “hold” rating in a research note on Friday, June 2nd. Zacks Investment Research raised CymaBay Therapeutics from a “sell” rating to a “hold” rating in a research note on Monday. Ifs Securities downgraded CymaBay Therapeutics from a “strong-buy” rating to an “outperform” rating in a research note on Friday, August 11th. Finally, BidaskClub downgraded CymaBay Therapeutics from a “strong-buy” rating to a “buy” rating in a research note on Thursday, August 3rd. Two investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. CymaBay Therapeutics currently has an average rating of “Buy” and an average target price of $12.69.
Shares of CymaBay Therapeutics (CBAY) opened at 7.56 on Friday. The company’s 50 day moving average is $6.59 and its 200-day moving average is $5.15. CymaBay Therapeutics has a 12 month low of $1.15 and a 12 month high of $8.29. The firm’s market cap is $330.80 million.
Several large investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings in shares of CymaBay Therapeutics by 20.7% during the second quarter. Vanguard Group Inc. now owns 991,633 shares of the biopharmaceutical company’s stock worth $5,712,000 after purchasing an additional 170,126 shares during the last quarter. Boxer Capital LLC bought a new stake in shares of CymaBay Therapeutics during the first quarter worth about $3,342,000. Renaissance Technologies LLC grew its holdings in shares of CymaBay Therapeutics by 97.6% during the first quarter. Renaissance Technologies LLC now owns 231,949 shares of the biopharmaceutical company’s stock worth $997,000 after purchasing an additional 114,549 shares during the last quarter. Ardsley Advisory Partners grew its holdings in shares of CymaBay Therapeutics by 66.2% during the second quarter. Ardsley Advisory Partners now owns 50,210 shares of the biopharmaceutical company’s stock worth $290,000 after purchasing an additional 20,000 shares during the last quarter. Finally, Marshall Wace North America L.P. bought a new stake in shares of CymaBay Therapeutics during the second quarter worth about $242,000. Institutional investors own 25.80% of the company’s stock.
In other news, Director Robert James Wills purchased 5,000 shares of CymaBay Therapeutics stock in a transaction dated Tuesday, August 1st. The shares were bought at an average cost of $6.84 per share, for a total transaction of $34,200.00. Following the completion of the acquisition, the director now owns 25,200 shares in the company, valued at approximately $172,368. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Sujal Shah purchased 10,000 shares of CymaBay Therapeutics stock in a transaction dated Thursday, July 20th. The shares were purchased at an average price of $7.34 per share, for a total transaction of $73,400.00. Following the completion of the acquisition, the insider now owns 75,891 shares of the company’s stock, valued at approximately $557,039.94. The disclosure for this purchase can be found here. Over the last 90 days, insiders have bought 20,000 shares of company stock worth $144,750. Company insiders own 15.10% of the company’s stock.
CymaBay Therapeutics Company Profile
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.
Receive News & Ratings for CymaBay Therapeutics Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CymaBay Therapeutics Inc. and related companies with MarketBeat.com's FREE daily email newsletter.