CymaBay Therapeutics Inc. (CBAY) Downgraded to “Outperform” at Ifs Securities

CymaBay Therapeutics Inc. (NASDAQ:CBAY) was downgraded by analysts at Ifs Securities from a “strong-buy” rating to an “outperform” rating in a report released on Friday, The Fly reports.

A number of other research firms also recently commented on CBAY. Piper Jaffray Companies set a $7.00 target price on CymaBay Therapeutics and gave the stock a “buy” rating in a report on Monday, July 17th. Citigroup Inc. reaffirmed an “outperform” rating and set a $15.00 target price (up previously from $8.00) on shares of CymaBay Therapeutics in a report on Thursday, July 20th. Oppenheimer Holdings, Inc. lifted their target price on CymaBay Therapeutics from $8.00 to $15.00 and gave the stock an “outperform” rating in a report on Thursday, July 20th. CIBC reaffirmed an “outperform” rating and set a $15.00 target price (up previously from $8.00) on shares of CymaBay Therapeutics in a report on Thursday, July 20th. Finally, HC Wainwright lifted their target price on CymaBay Therapeutics from $7.00 to $12.00 and gave the stock a “buy” rating in a report on Monday, July 17th. Two investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $11.88.

CymaBay Therapeutics (CBAY) traded down 11.41% during midday trading on Friday, hitting $5.90. 1,197,762 shares of the stock traded hands. The company has a 50-day moving average of $6.49 and a 200-day moving average of $4.34. CymaBay Therapeutics has a 12 month low of $1.15 and a 12 month high of $8.29. The stock’s market cap is $169.64 million.

CymaBay Therapeutics (NASDAQ:CBAY) last released its earnings results on Thursday, August 10th. The biopharmaceutical company reported ($0.31) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.25) by $0.06. On average, equities research analysts anticipate that CymaBay Therapeutics will post ($0.73) earnings per share for the current year.

TRADEMARK VIOLATION WARNING: “CymaBay Therapeutics Inc. (CBAY) Downgraded to “Outperform” at Ifs Securities” was first published by Ticker Report and is the sole property of of Ticker Report. If you are viewing this article on another website, it was illegally copied and reposted in violation of US & international copyright and trademark law. The original version of this article can be accessed at https://www.tickerreport.com/banking-finance/2802225/cymabay-therapeutics-inc-cbay-downgraded-to-outperform-at-ifs-securities.html.

In related news, insider Sujal Shah purchased 10,000 shares of CymaBay Therapeutics stock in a transaction that occurred on Thursday, July 20th. The stock was bought at an average cost of $7.34 per share, for a total transaction of $73,400.00. Following the completion of the transaction, the insider now owns 75,891 shares in the company, valued at $557,039.94. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Charles Mcwherter purchased 5,000 shares of CymaBay Therapeutics stock in a transaction that occurred on Thursday, July 20th. The shares were bought at an average price of $7.43 per share, with a total value of $37,150.00. Following the completion of the transaction, the senior vice president now owns 5,100 shares of the company’s stock, valued at approximately $37,893. The disclosure for this purchase can be found here. Over the last quarter, insiders have purchased 20,000 shares of company stock valued at $144,750. 15.10% of the stock is owned by company insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Bank of New York Mellon Corp boosted its position in shares of CymaBay Therapeutics by 0.8% in the second quarter. Bank of New York Mellon Corp now owns 17,344 shares of the biopharmaceutical company’s stock valued at $100,000 after buying an additional 140 shares in the last quarter. ClariVest Asset Management LLC bought a new position in shares of CymaBay Therapeutics during the first quarter valued at $105,000. LVM Capital Management Ltd. MI boosted its position in shares of CymaBay Therapeutics by 100.0% in the second quarter. LVM Capital Management Ltd. MI now owns 20,000 shares of the biopharmaceutical company’s stock valued at $115,000 after buying an additional 10,000 shares in the last quarter. Acadian Asset Management LLC bought a new position in shares of CymaBay Therapeutics during the first quarter valued at $129,000. Finally, TFS Capital LLC bought a new position in shares of CymaBay Therapeutics during the first quarter valued at $169,000. Institutional investors own 25.35% of the company’s stock.

CymaBay Therapeutics Company Profile

CymaBay Therapeutics, Inc is a clinical-stage biopharmaceutical company. The Company is focused on developing therapies to treat metabolic diseases, including serious rare and orphan diseases. The Company’s product candidates include Arhalofenate, MBX-8025 and MBX-2982. Arhalofenate is used to treat gout.

The Fly

Analyst Recommendations for CymaBay Therapeutics (NASDAQ:CBAY)

Receive News & Ratings for CymaBay Therapeutics Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CymaBay Therapeutics Inc. and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

How to Trade on Forex – 8 Steps for Beginners
How to Trade on Forex – 8 Steps for Beginners
Super Nintendo World Theme Park Officially Starts Construction
Super Nintendo World Theme Park Officially Starts Construction
Amazon and Apple Join Foxconn to Secure Chip Business of Toshiba
Amazon and Apple Join Foxconn to Secure Chip Business of Toshiba
Camera Zooms In and Can Recognize Faces
Camera Zooms In and Can Recognize Faces
Netflix Could See 150 Million Worldwide Subscribers
Netflix Could See 150 Million Worldwide Subscribers
LeEco Cutting Over 70% of Staff in U.S. Amidst Pull Back
LeEco Cutting Over 70% of Staff in U.S. Amidst Pull Back


© 2006-2017 Ticker Report. Google+.