Shares of CymaBay Therapeutics Inc (NASDAQ:CBAY) have been given a consensus recommendation of “Buy” by the fourteen analysts that are currently covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and eleven have issued a buy rating on the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $13.89.
Several analysts have weighed in on the stock. Stifel Nicolaus assumed coverage on shares of CymaBay Therapeutics in a research note on Monday. They set a “buy” rating and a $14.00 price objective on the stock. B. Riley set a $7.00 price objective on shares of CymaBay Therapeutics and gave the stock a “hold” rating in a research note on Monday, June 17th. Citigroup decreased their price objective on shares of CymaBay Therapeutics from $21.00 to $12.00 and set a “buy” rating on the stock in a research note on Thursday, June 13th. HC Wainwright reaffirmed a “buy” rating and set a $12.00 price objective (down from $24.00) on shares of CymaBay Therapeutics in a research note on Wednesday, June 12th. Finally, BidaskClub cut shares of CymaBay Therapeutics from a “hold” rating to a “sell” rating in a research note on Wednesday, June 12th.
Several institutional investors and hedge funds have recently added to or reduced their stakes in CBAY. Meeder Asset Management Inc. lifted its holdings in CymaBay Therapeutics by 307.3% in the first quarter. Meeder Asset Management Inc. now owns 2,839 shares of the biopharmaceutical company’s stock valued at $38,000 after buying an additional 2,142 shares during the period. Pearl River Capital LLC acquired a new position in CymaBay Therapeutics in the fourth quarter valued at approximately $74,000. D. E. Shaw & Co. Inc. acquired a new position in CymaBay Therapeutics in the fourth quarter valued at approximately $82,000. PNC Financial Services Group Inc. lifted its holdings in CymaBay Therapeutics by 23.1% in the fourth quarter. PNC Financial Services Group Inc. now owns 13,120 shares of the biopharmaceutical company’s stock valued at $104,000 after buying an additional 2,460 shares during the period. Finally, Citigroup Inc. lifted its holdings in CymaBay Therapeutics by 17.7% in the fourth quarter. Citigroup Inc. now owns 19,966 shares of the biopharmaceutical company’s stock valued at $157,000 after buying an additional 3,000 shares during the period. 99.53% of the stock is currently owned by institutional investors and hedge funds.
NASDAQ:CBAY traded up $0.32 during mid-day trading on Thursday, hitting $7.00. The company’s stock had a trading volume of 566,982 shares, compared to its average volume of 1,030,926. CymaBay Therapeutics has a fifty-two week low of $4.82 and a fifty-two week high of $14.94. The company has a debt-to-equity ratio of 0.01, a current ratio of 18.66 and a quick ratio of 18.66. The firm has a market cap of $480.86 million, a P/E ratio of -5.56 and a beta of 1.73. The company has a fifty day simple moving average of $10.56.
CymaBay Therapeutics (NASDAQ:CBAY) last posted its quarterly earnings results on Wednesday, May 8th. The biopharmaceutical company reported ($0.37) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.34) by ($0.03). Sell-side analysts expect that CymaBay Therapeutics will post -1.48 EPS for the current year.
About CymaBay Therapeutics
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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