CymaBay Therapeutics Inc (NASDAQ:CBAY) – Analysts at Oppenheimer lowered their FY2021 earnings estimates for CymaBay Therapeutics in a research note issued on Tuesday, June 11th. Oppenheimer analyst J. Olson now forecasts that the biopharmaceutical company will post earnings of ($1.31) per share for the year, down from their previous forecast of ($1.07). Oppenheimer has a “Buy” rating and a $12.00 price objective on the stock. Oppenheimer also issued estimates for CymaBay Therapeutics’ FY2022 earnings at ($0.29) EPS and FY2023 earnings at $0.55 EPS.
CymaBay Therapeutics (NASDAQ:CBAY) last posted its quarterly earnings data on Wednesday, May 8th. The biopharmaceutical company reported ($0.37) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.34) by ($0.03).
CBAY has been the subject of several other reports. BidaskClub cut shares of CymaBay Therapeutics from a “strong-buy” rating to a “buy” rating in a research report on Thursday, April 11th. ValuEngine lowered shares of CymaBay Therapeutics from a “strong-buy” rating to a “buy” rating in a research note 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 price objective on the stock in a research note on Tuesday, April 9th. Piper Jaffray Companies set a $30.00 price target on shares of CymaBay Therapeutics and gave the company a “buy” rating in a research report on Friday, March 1st. Finally, Cantor Fitzgerald set a $20.00 target price on shares of CymaBay Therapeutics and gave the stock a “buy” rating in a research note on Thursday, February 28th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and ten have given a buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $14.44.
Shares of NASDAQ:CBAY opened at $6.75 on Friday. The company has a quick ratio of 18.66, a current ratio of 18.66 and a debt-to-equity ratio of 0.01. CymaBay Therapeutics has a one year low of $4.82 and a one year high of $15.00. The company has a market capitalization of $423.84 million, a P/E ratio of -5.36 and a beta of 1.73.
Several hedge funds have recently bought and sold shares of CBAY. Bank of New York Mellon Corp raised its stake in shares of CymaBay Therapeutics by 6.9% during the 3rd quarter. Bank of New York Mellon Corp now owns 259,311 shares of the biopharmaceutical company’s stock worth $2,873,000 after purchasing an additional 16,804 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of CymaBay Therapeutics by 4.1% in the 3rd quarter. Vanguard Group Inc. now owns 2,789,188 shares of the biopharmaceutical company’s stock valued at $30,903,000 after acquiring an additional 109,989 shares in the last quarter. Rhumbline Advisers grew its holdings in CymaBay Therapeutics by 47.4% in the 4th quarter. Rhumbline Advisers now owns 77,946 shares of the biopharmaceutical company’s stock valued at $613,000 after buying an additional 25,057 shares during the last quarter. PNC Financial Services Group Inc. grew its holdings in CymaBay Therapeutics by 23.1% in the 4th quarter. PNC Financial Services Group Inc. now owns 13,120 shares of the biopharmaceutical company’s stock valued at $104,000 after buying an additional 2,460 shares during the last quarter. Finally, Pearl River Capital LLC acquired a new stake in shares of CymaBay Therapeutics during the 4th quarter worth approximately $74,000. 99.53% of the stock is owned by hedge funds and other institutional investors.
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.
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