Zacks: Brokerages Anticipate CymaBay Therapeutics Inc (CBAY) Will Announce Quarterly Sales of $6.75 Million

Wall Street brokerages expect CymaBay Therapeutics Inc (NASDAQ:CBAY) to post $6.75 million in sales for the current fiscal quarter, Zacks reports. Two analysts have provided estimates for CymaBay Therapeutics’ earnings, with the highest sales estimate coming in at $10.00 million and the lowest estimate coming in at $3.50 million. The business is expected to report its next quarterly earnings report on Thursday, March 22nd.

According to Zacks, analysts expect that CymaBay Therapeutics will report full-year sales of $6.75 million for the current year, with estimates ranging from $4.80 million to $14.79 million. For the next fiscal year, analysts anticipate that the business will report sales of $0.00 per share. Zacks’ sales averages are an average based on a survey of sell-side research firms that follow CymaBay Therapeutics.

CymaBay Therapeutics (NASDAQ:CBAY) last posted its earnings results on Wednesday, November 8th. The biopharmaceutical company reported ($0.21) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.19) by ($0.02). During the same period last year, the firm posted ($0.25) earnings per share.

Several equities analysts recently commented on CBAY shares. Oppenheimer set a $15.00 target price on CymaBay Therapeutics and gave the stock a “buy” rating in a research report on Wednesday, January 10th. Leerink Swann restated a “buy” rating and set a $16.00 target price on shares of CymaBay Therapeutics in a research report on Tuesday, November 28th. HC Wainwright restated a “buy” rating and set a $12.00 target price on shares of CymaBay Therapeutics in a research report on Tuesday, November 28th. Cantor Fitzgerald restated a “buy” rating and set a $16.00 target price on shares of CymaBay Therapeutics in a research report on Wednesday, November 8th. Finally, Piper Jaffray Companies restated a “buy” rating and set a $12.00 target price on shares of CymaBay Therapeutics in a research report on Friday, October 27th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and ten have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $14.50.

In other CymaBay Therapeutics news, Director Kurt Von Emster sold 59,209 shares of CymaBay Therapeutics stock in a transaction dated Tuesday, October 31st. The stock was sold at an average price of $9.27, for a total transaction of $548,867.43. Following the completion of the sale, the director now owns 90,000 shares of the company’s stock, valued at $834,300. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Carl Goldfischer sold 18,000 shares of CymaBay Therapeutics stock in a transaction dated Thursday, November 2nd. The stock was sold at an average price of $8.66, for a total value of $155,880.00. Following the sale, the director now directly owns 9,000 shares of the company’s stock, valued at approximately $77,940. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 304,749 shares of company stock valued at $2,841,832. Corporate insiders own 15.10% of the company’s stock.

Hedge funds have recently modified their holdings of the business. Schwab Charles Investment Management Inc. bought a new stake in CymaBay Therapeutics during the fourth quarter worth about $115,000. Bank of New York Mellon Corp lifted its stake in CymaBay Therapeutics by 0.8% during the second quarter. Bank of New York Mellon Corp now owns 17,344 shares of the biopharmaceutical company’s stock worth $100,000 after purchasing an additional 140 shares during the last quarter. Boothbay Fund Management LLC bought a new stake in CymaBay Therapeutics during the third quarter worth about $404,000. Ardsley Advisory Partners lifted its stake in 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, Crestline Management LP bought a new stake in CymaBay Therapeutics during the third quarter worth about $841,000. 69.12% of the stock is owned by hedge funds and other institutional investors.

CymaBay Therapeutics (NASDAQ:CBAY) opened at $10.20 on Monday. CymaBay Therapeutics has a 52-week low of $1.46 and a 52-week high of $10.50. The company has a debt-to-equity ratio of 0.04, a quick ratio of 7.39 and a current ratio of 7.39. The company has a market capitalization of $447.41, a PE ratio of -10.00 and a beta of 2.15.

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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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Earnings History and Estimates for CymaBay Therapeutics (NASDAQ:CBAY)

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