Ifs Securities reissued their strong-buy rating on shares of CymaBay Therapeutics Inc. (NASDAQ:CBAY) in a report issued on Monday, July 17th.
CBAY has been the topic of several other research reports. Zacks Investment Research downgraded shares of CymaBay Therapeutics from a buy rating to a hold rating in a report on Monday, April 3rd. Oppenheimer Holdings, Inc. initiated coverage on shares of CymaBay Therapeutics in a report on Friday, June 23rd. They set an outperform rating and a $8.00 price objective on the stock. ValuEngine upgraded shares of CymaBay Therapeutics from a sell rating to a hold rating in a report on Friday, June 2nd. Piper Jaffray Companies boosted their price objective on shares of CymaBay Therapeutics from $5.00 to $6.50 and gave the stock an overweight rating in a report on Friday, March 24th. Finally, HC Wainwright boosted their price objective on shares of CymaBay Therapeutics from $7.00 to $12.00 and gave the stock a buy rating in a report on Monday, July 17th. Two analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. CymaBay Therapeutics has an average rating of Buy and a consensus price target of $11.88.
Shares of CymaBay Therapeutics (CBAY) opened at 6.31 on Monday. The firm’s market cap is $181.43 million. CymaBay Therapeutics has a 12-month low of $1.15 and a 12-month high of $8.29. The company has a 50 day moving average price of $6.55 and a 200 day moving average price of $4.45.
CymaBay Therapeutics (NASDAQ:CBAY) last announced its earnings results on Thursday, August 10th. The biopharmaceutical company reported ($0.31) EPS for the quarter, missing the consensus estimate of ($0.25) by $0.06. On average, analysts forecast that CymaBay Therapeutics will post ($0.73) earnings per share for the current fiscal year.
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In related news, insider Sujal Shah bought 10,000 shares of CymaBay Therapeutics stock in a transaction dated Thursday, July 20th. The shares were 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 of the company’s stock, valued at $557,039.94. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Robert James Wills purchased 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 1st. The shares were acquired at an average cost of $6.84 per share, with a total value of $34,200.00. Following the completion of the purchase, the director now owns 25,200 shares of the company’s stock, valued at $172,368. The disclosure for this purchase can be found here. Insiders have bought 20,000 shares of company stock worth $144,750 over the last quarter. 15.10% of the stock is owned by company insiders.
A number of large investors have recently modified their holdings of CBAY. Bank of New York Mellon Corp increased its stake 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 during the last quarter. LVM Capital Management Ltd. MI increased its stake 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 during the last quarter. ClariVest Asset Management LLC purchased a new stake in shares of CymaBay Therapeutics during the first quarter valued at approximately $105,000. Acadian Asset Management LLC purchased a new stake in shares of CymaBay Therapeutics during the first quarter valued at approximately $129,000. Finally, TFS Capital LLC purchased a new stake in shares of CymaBay Therapeutics during the first quarter valued at approximately $169,000. 25.39% of the stock is owned by hedge funds and other institutional investors.
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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