CymaBay Therapeutics (NASDAQ:CBAY) Announces Earnings Results

CymaBay Therapeutics (NASDAQ:CBAY – Get Rating) issued its earnings results on Thursday. The biopharmaceutical company reported ($0.30) EPS for the quarter, meeting analysts’ consensus estimates of ($0.30), Yahoo Finance reports. During the same period last year, the company earned ($0.34) earnings per share.

CymaBay Therapeutics Price Performance

Shares of NASDAQ:CBAY opened at $9.59 on Friday. CymaBay Therapeutics has a 12 month low of $1.67 and a 12 month high of $10.05. The stock has a market cap of $812.09 million, a price-to-earnings ratio of -7.93 and a beta of 0.29. The stock’s 50 day moving average price is $7.97 and its 200 day moving average price is $5.31. The company has a debt-to-equity ratio of 1.43, a current ratio of 12.20 and a quick ratio of 12.20.

Wall Street Analysts Forecast Growth

CBAY has been the subject of a number of research reports. Oppenheimer lifted their target price on CymaBay Therapeutics from $10.00 to $12.00 and gave the company an “outperform” rating in a research note on Tuesday, March 7th. Cantor Fitzgerald lifted their target price on CymaBay Therapeutics from $10.00 to $13.00 and gave the company an “overweight” rating in a research note on Tuesday, January 31st. StockNews.com initiated coverage on CymaBay Therapeutics in a research note on Thursday. They issued a “hold” rating for the company. SVB Leerink lifted their target price on CymaBay Therapeutics from $10.00 to $12.00 and gave the company an “outperform” rating in a research note on Wednesday, February 8th. Finally, HC Wainwright boosted their price objective on CymaBay Therapeutics from $10.00 to $12.00 in a research report on Friday. One equities research analyst has rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Buy” and an average price target of $13.50.

Institutional Investors Weigh In On CymaBay Therapeutics

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CBAY. Millennium Management LLC raised its holdings in CymaBay Therapeutics by 27.1% during the second quarter. Millennium Management LLC now owns 3,015,496 shares of the biopharmaceutical company’s stock worth $8,896,000 after purchasing an additional 642,796 shares in the last quarter. UBS Group AG increased its holdings in shares of CymaBay Therapeutics by 1,347.2% in the second quarter. UBS Group AG now owns 455,265 shares of the biopharmaceutical company’s stock valued at $1,343,000 after buying an additional 423,806 shares in the last quarter. Point72 Asset Management L.P. bought a new position in shares of CymaBay Therapeutics in the second quarter valued at $1,033,000. EAM Global Investors LLC bought a new position in shares of CymaBay Therapeutics in the fourth quarter valued at $1,955,000. Finally, Renaissance Technologies LLC increased its holdings in shares of CymaBay Therapeutics by 113.1% in the first quarter. Renaissance Technologies LLC now owns 459,535 shares of the biopharmaceutical company’s stock valued at $1,429,000 after buying an additional 243,915 shares in the last quarter. Institutional investors own 73.54% of the company’s stock.

CymaBay Therapeutics Company Profile

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CymaBay Therapeutics, Inc engages in the provision and development of access to therapies for patients with liver and other chronic diseases with high unmet medical needs. Its products pipeline includes Seladelpar, MBX-2982, CB-0406, and CB-001. The company was founded on October 5, 1988 and is headquartered in Newark, CA.