Equities Analysts Issue Forecasts for CymaBay Therapeutics Inc’s Q3 2019 Earnings (NASDAQ:CBAY)

CymaBay Therapeutics Inc (NASDAQ:CBAY) – B. Riley increased their Q3 2019 earnings per share estimates for CymaBay Therapeutics in a research note issued on Monday, June 10th. B. Riley analyst M. Mamtani now expects that the biopharmaceutical company will post earnings per share of ($0.45) for the quarter, up from their prior forecast of ($0.46). B. Riley has a “Hold” rating and a $11.00 price target on the stock. B. Riley also issued estimates for CymaBay Therapeutics’ Q4 2019 earnings at ($0.50) EPS, FY2019 earnings at ($1.74) EPS, FY2020 earnings at ($2.03) EPS, FY2021 earnings at ($2.67) EPS, FY2022 earnings at ($1.57) EPS and FY2023 earnings at ($1.29) EPS.

CymaBay Therapeutics (NASDAQ:CBAY) last announced its quarterly earnings results on Wednesday, May 8th. The biopharmaceutical company reported ($0.37) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.34) by ($0.03).

Other equities research analysts also recently issued reports about the stock. ValuEngine downgraded shares of CymaBay Therapeutics from a “strong-buy” rating to a “buy” rating in a report on Thursday, April 11th. Zacks Investment Research raised shares of CymaBay Therapeutics from a “hold” rating to a “buy” rating and set a $15.00 target price on the stock in a research note on Tuesday, April 9th. Piper Jaffray Companies set a $30.00 target price on shares of CymaBay Therapeutics and gave the company a “buy” rating in a research note on Friday, March 1st. Cantor Fitzgerald set a $20.00 target price on shares of CymaBay Therapeutics and gave the company a “buy” rating in a research note on Thursday, February 28th. Finally, BidaskClub raised shares of CymaBay Therapeutics from a “hold” rating to a “buy” rating in a research note on Wednesday, February 27th. Three equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. CymaBay Therapeutics currently has an average rating of “Buy” and a consensus target price of $15.88.

Shares of CymaBay Therapeutics stock opened at $6.05 on Wednesday. CymaBay Therapeutics has a 12-month low of $4.82 and a 12-month high of $15.00. The stock has a market capitalization of $790.67 million, a PE ratio of -4.80 and a beta of 1.73. The company has a current ratio of 18.66, a quick ratio of 18.66 and a debt-to-equity ratio of 0.01.

A number of institutional investors and hedge funds have recently made changes to their positions in CBAY. BlackRock Inc. grew its position in CymaBay Therapeutics by 16.3% during the fourth quarter. BlackRock Inc. now owns 5,161,581 shares of the biopharmaceutical company’s stock valued at $40,622,000 after acquiring an additional 722,753 shares during the last quarter. Perceptive Advisors LLC grew its holdings in shares of CymaBay Therapeutics by 71.1% in the first quarter. Perceptive Advisors LLC now owns 4,212,821 shares of the biopharmaceutical company’s stock worth $55,946,000 after purchasing an additional 1,750,000 shares during the last quarter. Eagle Asset Management Inc. grew its holdings in shares of CymaBay Therapeutics by 5.6% in the first quarter. Eagle Asset Management Inc. now owns 3,011,623 shares of the biopharmaceutical company’s stock worth $39,994,000 after purchasing an additional 158,650 shares during the last quarter. Vanguard Group Inc. grew its holdings in shares of CymaBay Therapeutics by 4.1% in the third quarter. Vanguard Group Inc. now owns 2,789,188 shares of the biopharmaceutical company’s stock worth $30,903,000 after purchasing an additional 109,989 shares during the last quarter. Finally, Foresite Capital Management IV LLC grew its holdings in shares of CymaBay Therapeutics by 30.0% in the fourth quarter. Foresite Capital Management IV LLC now owns 2,631,258 shares of the biopharmaceutical company’s stock worth $20,708,000 after purchasing an additional 607,889 shares during the last quarter. 99.53% of the stock is currently owned by institutional investors and hedge funds.

About CymaBay Therapeutics

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.

Further Reading: How is diluted EPS different from basic EPS?

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

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