CymaBay Therapeutics Inc (NASDAQ:CBAY) has received an average recommendation of “Buy” from the twelve research firms that are presently covering the stock, MarketBeat.com reports. Two investment analysts have rated the stock with a sell recommendation, nine have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $21.88.
CBAY has been the subject of a number of analyst reports. Oppenheimer set a $20.00 target price on shares of CymaBay Therapeutics and gave the company a “buy” rating in a research report on Thursday, August 9th. Cantor Fitzgerald reaffirmed a “buy” rating and issued a $16.00 price target on shares of CymaBay Therapeutics in a report on Thursday, August 9th. BidaskClub raised shares of CymaBay Therapeutics from a “hold” rating to a “buy” rating in a report on Wednesday, August 29th. Raymond James started coverage on shares of CymaBay Therapeutics in a report on Thursday, June 28th. They issued an “outperform” rating and a $20.00 price target for the company. Finally, Piper Jaffray Companies raised their price target on shares of CymaBay Therapeutics to $30.00 and gave the stock an “overweight” rating in a report on Friday, August 10th.
NASDAQ:CBAY opened at $10.18 on Friday. CymaBay Therapeutics has a 52 week low of $7.63 and a 52 week high of $15.59. The company has a market cap of $654.30 million, a P/E ratio of -12.89 and a beta of 2.01.
CymaBay Therapeutics (NASDAQ:CBAY) last posted its earnings results on Friday, August 10th. The biopharmaceutical company reported ($0.29) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.25) by ($0.04). As a group, equities analysts forecast that CymaBay Therapeutics will post -1.19 EPS for the current fiscal year.
In other CymaBay Therapeutics news, VP Daniel Menold sold 5,000 shares of the firm’s stock in a transaction on Wednesday, August 29th. The shares were sold at an average price of $13.00, for a total value of $65,000.00. Following the completion of the transaction, the vice president now owns 5,000 shares of the company’s stock, valued at $65,000. The transaction was disclosed in a filing with the SEC, which is available at this link. Company insiders own 4.50% of the company’s stock.
Several large investors have recently added to or reduced their stakes in the company. Versant Venture Management LLC increased its stake in shares of CymaBay Therapeutics by 3.4% in the third quarter. Versant Venture Management LLC now owns 1,084,696 shares of the biopharmaceutical company’s stock worth $12,018,000 after acquiring an additional 36,095 shares during the period. Northern Trust Corp increased its stake in shares of CymaBay Therapeutics by 496.6% in the second quarter. Northern Trust Corp now owns 679,176 shares of the biopharmaceutical company’s stock worth $9,115,000 after acquiring an additional 565,327 shares during the period. Bank of New York Mellon Corp increased its stake in shares of CymaBay Therapeutics by 88.7% in the second quarter. Bank of New York Mellon Corp now owns 242,507 shares of the biopharmaceutical company’s stock worth $3,254,000 after acquiring an additional 114,001 shares during the period. Millennium Management LLC increased its stake in shares of CymaBay Therapeutics by 0.7% in the second quarter. Millennium Management LLC now owns 1,168,632 shares of the biopharmaceutical company’s stock worth $15,683,000 after acquiring an additional 8,357 shares during the period. Finally, MetLife Investment Advisors LLC acquired a new stake in shares of CymaBay Therapeutics in the second quarter worth $378,000. Hedge funds and other institutional investors own 95.48% of the company’s stock.
CymaBay Therapeutics Company Profile
CymaBay Therapeutics, Inc, a clinical-stage biopharmaceutical company, focuses on developing and providing therapies to treat liver and other chronic diseases. Its lead product candidate is seladelpar, a selective agonist of peroxisome proliferator-activated receptor delta, which has completed Phase II clinical study for the treatment of primary biliary cholangitis, as well as patients with nonalcoholic steatohepatitis.
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