CymaBay Therapeutics Inc. (CBAY) Receives Consensus Rating of “Buy” from Brokerages
CymaBay Therapeutics Inc. (NASDAQ:CBAY) has earned a consensus recommendation of “Buy” from the twelve ratings firms that are currently covering the firm, Marketbeat reports. Two equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. The average 1 year target price among analysts that have covered the stock in the last year is $14.00.
Several research firms have recently weighed in on CBAY. Piper Jaffray Companies reissued a “buy” rating and set a $12.00 price target on shares of CymaBay Therapeutics in a report on Friday. Cantor Fitzgerald reissued a “buy” rating and set a $16.00 price target on shares of CymaBay Therapeutics in a report on Tuesday, September 26th. Oppenheimer Holdings, Inc. increased their price target on CymaBay Therapeutics from $8.00 to $15.00 and gave the company an “outperform” rating in a report on Thursday, July 20th. Citigroup Inc. reissued an “outperform” rating and set a $15.00 price target (up from $8.00) on shares of CymaBay Therapeutics in a report on Thursday, July 20th. Finally, Ifs Securities reissued a “strong-buy” rating on shares of CymaBay Therapeutics in a report on Monday, July 17th.
Shares of CymaBay Therapeutics (NASDAQ:CBAY) opened at 9.21 on Friday. CymaBay Therapeutics has a 52-week low of $1.15 and a 52-week high of $9.29. The stock’s market capitalization is $402.99 million. The firm has a 50-day moving average price of $7.74 and a 200-day moving average price of $5.92.
CymaBay Therapeutics (NASDAQ:CBAY) last released its quarterly earnings results on Thursday, August 10th. The biopharmaceutical company reported ($0.31) earnings per share for the quarter, missing the consensus estimate of ($0.25) by ($0.06). On average, analysts predict that CymaBay Therapeutics will post ($0.82) EPS for the current year.
In other CymaBay Therapeutics news, Director Kurt Von Emster sold 211,124 shares of the stock in a transaction on Friday, September 29th. The stock was sold at an average price of $8.09, for a total value of $1,707,993.16. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Robert James Wills purchased 5,000 shares of the business’s stock in a transaction on Tuesday, August 1st. The stock was acquired at an average price of $6.84 per share, with a total value of $34,200.00. Following the purchase, the director now directly owns 25,200 shares in the company, valued at approximately $172,368. The disclosure for this purchase can be found here. Corporate insiders own 15.10% of the company’s stock.
Hedge funds have recently modified their holdings of the business. Bank of New York Mellon Corp increased its stake in CymaBay Therapeutics by 0.8% in the 2nd quarter. Bank of New York Mellon Corp now owns 17,344 shares of the biopharmaceutical company’s stock worth $100,000 after buying an additional 140 shares in the last quarter. LVM Capital Management Ltd. MI increased its stake in 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 worth $115,000 after buying an additional 10,000 shares in the last quarter. Marshall Wace North America L.P. purchased a new stake in CymaBay Therapeutics in the 2nd quarter worth $242,000. Ardsley Advisory Partners increased its stake in CymaBay Therapeutics by 66.2% in the 2nd quarter. Ardsley Advisory Partners now owns 50,210 shares of the biopharmaceutical company’s stock worth $290,000 after buying an additional 20,000 shares in the last quarter. Finally, Renaissance Technologies LLC increased its stake in CymaBay Therapeutics by 97.6% in the 1st quarter. Renaissance Technologies LLC now owns 231,949 shares of the biopharmaceutical company’s stock worth $997,000 after buying an additional 114,549 shares in the last quarter. Institutional investors and hedge funds own 25.92% of the company’s stock.
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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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