CymaBay Therapeutics Inc. (NASDAQ:CBAY)‘s stock had its “outperform” rating reissued by research analysts at CIBC in a research note issued on Thursday, July 20th. They currently have a $15.00 target price on the biopharmaceutical company’s stock, up from their previous target price of $8.00. CIBC’s price objective indicates a potential upside of 109.50% from the stock’s current price.
Several other analysts have also recently commented on CBAY. Piper Jaffray Companies set a $7.00 price target on CymaBay Therapeutics and gave the stock a “buy” rating in a research report on Monday, July 17th. Oppenheimer Holdings, Inc. boosted their price objective on CymaBay Therapeutics from $8.00 to $15.00 and gave the stock an “outperform” rating in a research note on Thursday, July 20th. HC Wainwright boosted their price objective on CymaBay Therapeutics from $7.00 to $12.00 and gave the stock a “buy” rating in a research note on Monday, July 17th. ValuEngine raised CymaBay Therapeutics from a “sell” rating to a “hold” rating in a research note on Friday, June 2nd. Finally, Citigroup Inc. reaffirmed an “outperform” rating and issued a $15.00 price target (up previously from $8.00) on shares of CymaBay Therapeutics in a research note on Thursday, July 20th. Two investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $11.88.
CymaBay Therapeutics (NASDAQ:CBAY) traded down 0.98% during midday trading on Thursday, hitting $7.09. 339,550 shares of the stock were exchanged. The company’s 50 day moving average is $6.05 and its 200-day moving average is $4.13. The stock’s market cap is $203.85 million. CymaBay Therapeutics has a 1-year low of $1.15 and a 1-year high of $8.29.
CymaBay Therapeutics (NASDAQ:CBAY) last posted its quarterly earnings data on Thursday, May 11th. The biopharmaceutical company reported ($0.20) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.27) by $0.07. The business had revenue of $4.79 million during the quarter. On average, analysts expect that CymaBay Therapeutics will post ($0.75) earnings per share for the current year.
In other news, insider Sujal Shah purchased 10,000 shares of the company’s stock in a transaction that occurred on Thursday, July 20th. The shares were purchased at an average price of $7.34 per share, for a total transaction of $73,400.00. Following the purchase, the insider now directly owns 75,891 shares of the company’s stock, valued at approximately $557,039.94. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Charles Mcwherter purchased 5,000 shares of the company’s stock in a transaction that occurred on Thursday, July 20th. The shares were purchased at an average price of $7.43 per share, for a total transaction of $37,150.00. Following the purchase, the senior vice president now directly owns 5,100 shares in the company, valued at $37,893. The disclosure for this purchase can be found here. In the last 90 days, insiders have acquired 20,000 shares of company stock worth $144,750. 15.10% of the stock is owned by company insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CBAY. Bank of New York Mellon Corp increased its position in 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 worth $100,000 after buying an additional 140 shares in the last quarter. LVM Capital Management Ltd. MI increased its position in 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 worth $115,000 after buying an additional 10,000 shares in the last quarter. ClariVest Asset Management LLC purchased a new position in CymaBay Therapeutics during the first quarter worth about $105,000. Acadian Asset Management LLC purchased a new position in CymaBay Therapeutics during the first quarter worth about $129,000. Finally, TFS Capital LLC purchased a new position in CymaBay Therapeutics during the first quarter worth about $169,000. Hedge funds and other 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.
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