Evercore ISI Initiates Coverage on CymaBay Therapeutics (CBAY)

Analysts at Evercore ISI initiated coverage on shares of CymaBay Therapeutics (NASDAQ:CBAY) in a research report issued on Tuesday, Marketbeat reports. The firm set an “outperform” rating on the biopharmaceutical company’s stock.

Several other research firms have also weighed in on CBAY. ValuEngine raised CymaBay Therapeutics from a “sell” rating to a “hold” rating in a report on Friday, February 2nd. Zacks Investment Research raised CymaBay Therapeutics from a “sell” rating to a “hold” rating in a report on Friday, January 26th. BidaskClub raised CymaBay Therapeutics from a “hold” rating to a “buy” rating in a report on Friday, January 26th. Roth Capital reissued a “buy” rating and issued a $27.00 target price on shares of CymaBay Therapeutics in a report on Thursday, January 25th. Finally, HC Wainwright reissued a “buy” rating and issued a $18.00 target price (up previously from $12.00) on shares of CymaBay Therapeutics in a report on Wednesday, January 24th. Two research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $16.56.

Shares of CymaBay Therapeutics (NASDAQ:CBAY) traded up $1.25 during mid-day trading on Tuesday, reaching $13.50. The company had a trading volume of 2,620,064 shares, compared to its average volume of 914,831. CymaBay Therapeutics has a 52-week low of $2.31 and a 52-week high of $13.79. The firm has a market capitalization of $592.17, a price-to-earnings ratio of -13.37 and a beta of 2.04. The company has a debt-to-equity ratio of 0.04, a current ratio of 7.39 and a quick ratio of 7.39.

In related news, Director Kurt Von Emster sold 40,763 shares of the stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $12.35, for a total transaction of $503,423.05. Following the transaction, the director now directly owns 90,000 shares in the company, valued at $1,111,500. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders have sold 746,730 shares of company stock worth $8,089,910 over the last quarter. 15.10% of the stock is currently owned by company insiders.

Several institutional investors have recently added to or reduced their stakes in CBAY. Bank of New York Mellon Corp raised its holdings in shares of 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 purchasing an additional 140 shares during the period. Schwab Charles Investment Management Inc. purchased a new position in shares of CymaBay Therapeutics in the 4th quarter worth about $115,000. Virtu Financial LLC raised its holdings in shares of CymaBay Therapeutics by 56.2% in the 4th quarter. Virtu Financial LLC now owns 24,735 shares of the biopharmaceutical company’s stock worth $228,000 after purchasing an additional 8,899 shares during the period. Sigma Planning Corp raised its holdings in shares of CymaBay Therapeutics by 82.0% in the 4th quarter. Sigma Planning Corp now owns 27,300 shares of the biopharmaceutical company’s stock worth $251,000 after purchasing an additional 12,300 shares during the period. Finally, Ardsley Advisory Partners raised its holdings in shares of 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 purchasing an additional 20,000 shares during the period. Institutional investors own 54.80% 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.

Analyst Recommendations for CymaBay Therapeutics (NASDAQ:CBAY)

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