CymaBay Therapeutics (CBAY) Lifted to Buy at Zacks Investment Research

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Zacks Investment Research upgraded shares of CymaBay Therapeutics (NASDAQ:CBAY) from a hold rating to a buy rating in a report released on Tuesday morning. They currently have $11.00 target price 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. “

Several other analysts also recently commented on CBAY. BidaskClub downgraded shares of CymaBay Therapeutics from a buy rating to a hold rating in a research report on Tuesday, September 18th. Oppenheimer set a $18.00 price objective on CymaBay Therapeutics and gave the company a buy rating in a research note on Wednesday, November 7th. Cantor Fitzgerald set a $17.00 target price on CymaBay Therapeutics and gave the stock a buy rating in a research note on Wednesday, November 7th. Finally, HC Wainwright reissued a buy rating on shares of CymaBay Therapeutics in a report on Monday, November 19th. One research analyst has rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. The company presently has an average rating of Buy and an average price target of $20.56.

CBAY traded down $0.20 on Tuesday, hitting $9.55. 317,318 shares of the stock were exchanged, compared to its average volume of 391,087. CymaBay Therapeutics has a 12 month low of $6.31 and a 12 month high of $15.59. The stock has a market capitalization of $581.32 million, a price-to-earnings ratio of -12.09 and a beta of 1.78.

CymaBay Therapeutics (NASDAQ:CBAY) last posted its earnings results on Tuesday, November 6th. The biopharmaceutical company reported ($0.34) EPS for the quarter, missing analysts’ consensus estimates of ($0.30) by ($0.04). Sell-side analysts anticipate that CymaBay Therapeutics will post -1.29 EPS for the current fiscal year.

In other CymaBay Therapeutics news, Director Kurt Von Emster sold 142,381 shares of the firm’s stock in a transaction that occurred on Tuesday, December 18th. The stock was sold at an average price of $7.89, for a total transaction of $1,123,386.09. Following the completion of the transaction, the director now owns 90,000 shares in the company, valued at approximately $710,100. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Sujal Shah purchased 5,000 shares of the business’s stock in a transaction on Monday, October 15th. The shares were purchased at an average price of $9.90 per share, with a total value of $49,500.00. Following the acquisition, the chief executive officer now directly owns 100,000 shares in the company, valued at $990,000. The disclosure for this purchase can be found here. 4.50% of the stock is currently owned by corporate insiders.

Several hedge funds have recently modified their holdings of the stock. Legal & General Group Plc bought a new stake in CymaBay Therapeutics during the 2nd quarter valued at $134,000. PNC Financial Services Group Inc. purchased a new stake in CymaBay Therapeutics during the 2nd quarter valued at about $152,000. Virtu Financial LLC purchased a new stake in CymaBay Therapeutics during the 3rd quarter valued at about $219,000. Strs Ohio acquired a new position in shares of CymaBay Therapeutics in the 2nd quarter valued at about $230,000. Finally, Metropolitan Life Insurance Co. NY acquired a new position in shares of CymaBay Therapeutics in the 2nd quarter valued at about $267,000. 94.57% of the stock is owned by hedge funds and other institutional investors.

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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