Zacks Investment Research upgraded shares of CymaBay Therapeutics (NASDAQ:CBAY) from a hold rating to a buy rating in a research report report published on Tuesday, Zacks.com reports. The brokerage currently has $5.75 price objective on the biopharmaceutical company’s stock.
According to Zacks, “CymaBay Therapeutics Inc. is a biopharmaceutical company. It is focused on the development and commercialization of proprietary new medicines for important human diseases. The Company’s lead product candidate, arhalofenate, is being developed for the treatment of gout. CymaBay Therapeutics Inc. is based in Newark, California. “
Other equities analysts have also issued reports about the stock. Citigroup dropped their price target on shares of CymaBay Therapeutics from $21.00 to $12.00 and set a buy rating for the company in a research report on Thursday, June 13th. B. Riley set a $7.00 price target on shares of CymaBay Therapeutics and gave the stock a hold rating in a research report on Monday, June 17th. Piper Jaffray Companies dropped their price target on shares of CymaBay Therapeutics from $30.00 to $8.00 and set a buy rating for the company in a research report on Tuesday, June 11th. Cantor Fitzgerald set a $20.00 price target on shares of CymaBay Therapeutics and gave the stock a buy rating in a research report on Wednesday, September 18th. Finally, HC Wainwright reiterated a buy rating and issued a $12.00 price target (down from $24.00) on shares of CymaBay Therapeutics in a research report on Wednesday, June 12th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and thirteen have given a buy rating to the company’s stock. The stock currently has an average rating of Buy and an average target price of $13.25.
CBAY opened at $4.52 on Tuesday. CymaBay Therapeutics has a 1-year low of $4.23 and a 1-year high of $14.00. The company has a 50 day simple moving average of $5.53 and a two-hundred day simple moving average of $8.62. The company has a current ratio of 16.20, a quick ratio of 16.20 and a debt-to-equity ratio of 0.01.
CymaBay Therapeutics (NASDAQ:CBAY) last posted its quarterly earnings results on Wednesday, August 7th. The biopharmaceutical company reported ($0.35) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.37) by $0.02. On average, equities research analysts expect that CymaBay Therapeutics will post -1.47 EPS for the current year.
In related news, CEO Sujal Shah bought 5,000 shares of the company’s stock in a transaction that occurred on Monday, September 23rd. The stock was purchased at an average price of $5.53 per share, for a total transaction of $27,650.00. Following the completion of the transaction, the chief executive officer now owns 111,900 shares in the company, valued at $618,807. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 4.20% of the stock is currently owned by corporate insiders.
Several large investors have recently modified their holdings of CBAY. Bank of Montreal Can boosted its position in shares of CymaBay Therapeutics by 1,372.0% during the second quarter. Bank of Montreal Can now owns 6,771 shares of the biopharmaceutical company’s stock worth $48,000 after acquiring an additional 6,311 shares during the last quarter. Cambridge Investment Research Advisors Inc. bought a new position in shares of CymaBay Therapeutics during the second quarter worth $80,000. Aperio Group LLC bought a new position in shares of CymaBay Therapeutics during the second quarter worth $104,000. Cubist Systematic Strategies LLC bought a new position in shares of CymaBay Therapeutics during the second quarter worth $151,000. Finally, National Asset Management Inc. bought a new position in shares of CymaBay Therapeutics during the second quarter worth $165,000. Hedge funds and other institutional investors own 98.58% 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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