CymaBay Therapeutics Inc (CBAY) Given Average Recommendation of “Buy” by Analysts

CymaBay Therapeutics Inc (NASDAQ:CBAY) has been assigned a consensus recommendation of “Buy” from the fourteen analysts that are presently covering the firm, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a hold recommendation and twelve have given a buy recommendation to the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $17.75.

A number of brokerages recently commented on CBAY. ValuEngine upgraded CymaBay Therapeutics from a “sell” rating to a “hold” rating in a research report on Friday, February 2nd. Leerink Swann reiterated a “buy” rating and issued a $16.00 price objective on shares of CymaBay Therapeutics in a research report on Tuesday, November 28th. Oppenheimer reiterated a “buy” rating on shares of CymaBay Therapeutics in a research report on Wednesday, March 21st. Roth Capital reiterated a “buy” rating and issued a $27.00 price objective on shares of CymaBay Therapeutics in a research report on Thursday, January 25th. Finally, Evercore ISI began coverage on CymaBay Therapeutics in a research report on Tuesday, February 13th. They set an “outperform” rating for the company.

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In other news, Director Carl Goldfischer sold 15,000 shares of the business’s stock in a transaction dated Thursday, March 22nd. The stock was sold at an average price of $13.03, for a total transaction of $195,450.00. Following the completion of the transaction, the director now directly owns 9,340 shares in the company, valued at approximately $121,700.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Kurt Von Emster sold 218,057 shares of the business’s stock in a transaction dated Wednesday, February 14th. The stock was sold at an average price of $15.89, for a total value of $3,464,925.73. The disclosure for this sale can be found here. Insiders have sold a total of 819,948 shares of company stock valued at $10,327,654 over the last 90 days. Corporate insiders own 15.10% of the company’s stock.

Several institutional investors have recently bought and sold shares of CBAY. Boothbay Fund Management LLC bought a new position in shares of CymaBay Therapeutics during the 3rd quarter valued at about $404,000. Perceptive Advisors LLC bought a new position in shares of CymaBay Therapeutics during the 3rd quarter valued at about $18,948,000. Bank of New York Mellon Corp lifted its holdings in shares of CymaBay Therapeutics by 794.7% during the 3rd quarter. Bank of New York Mellon Corp now owns 155,174 shares of the biopharmaceutical company’s stock valued at $1,251,000 after purchasing an additional 137,830 shares in the last quarter. Ameriprise Financial Inc. bought a new position in shares of CymaBay Therapeutics during the 3rd quarter valued at about $1,536,000. Finally, Vanguard Group Inc. lifted its holdings in shares of CymaBay Therapeutics by 20.7% during the 2nd quarter. Vanguard Group Inc. now owns 991,633 shares of the biopharmaceutical company’s stock valued at $5,712,000 after purchasing an additional 170,126 shares in the last quarter. Institutional investors own 58.15% of the company’s stock.

Shares of CBAY stock opened at $12.36 on Tuesday. The company has a quick ratio of 6.35, a current ratio of 6.35 and a debt-to-equity ratio of 0.04. The company has a market capitalization of $710.80, a PE ratio of -14.89 and a beta of 1.96. CymaBay Therapeutics has a 12-month low of $3.16 and a 12-month high of $15.59.

CymaBay Therapeutics (NASDAQ:CBAY) last announced its quarterly earnings data on Thursday, March 15th. The biopharmaceutical company reported ($0.11) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.17) by $0.06. The firm had revenue of $5.20 million during the quarter, compared to analyst estimates of $1.25 million. analysts anticipate that CymaBay Therapeutics will post -0.84 EPS for the current year.

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About CymaBay Therapeutics

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.

Analyst Recommendations for CymaBay Therapeutics (NASDAQ:CBAY)

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