BidaskClub Upgrades CymaBay Therapeutics (NASDAQ:CBAY) to “Hold”

BidaskClub upgraded shares of CymaBay Therapeutics (NASDAQ:CBAY) from a sell rating to a hold rating in a report released on Friday, November 2nd.

Other equities research analysts have also issued research reports about the company. Oppenheimer set a $20.00 price target on CymaBay Therapeutics and gave the stock a buy rating in a research note on Thursday, August 9th. Cantor Fitzgerald reissued a buy rating and set a $16.00 price objective on shares of CymaBay Therapeutics in a report on Thursday, August 9th. Piper Jaffray Companies increased their price objective on shares of CymaBay Therapeutics to $30.00 and gave the company an overweight rating in a report on Friday, August 10th. Finally, Zacks Investment Research downgraded shares of CymaBay Therapeutics from a hold rating to a sell rating in a report on Monday, October 15th. Two investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has an average rating of Buy and an average price target of $21.75.

Shares of NASDAQ CBAY traded down $0.18 during midday trading on Friday, hitting $11.56. 579,190 shares of the stock traded hands, compared to its average volume of 435,156. The stock has a market capitalization of $693.66 million, a price-to-earnings ratio of -14.63 and a beta of 1.89. CymaBay Therapeutics has a one year low of $7.63 and a one year high of $15.59.

CymaBay Therapeutics (NASDAQ:CBAY) last released its quarterly earnings results on Tuesday, November 6th. The biopharmaceutical company reported ($0.34) earnings per share for the quarter, missing the consensus estimate of ($0.30) by ($0.04). As a group, analysts expect that CymaBay Therapeutics will post -1.23 EPS for the current fiscal year.

In other news, CEO Sujal Shah acquired 5,000 shares of the firm’s stock in a transaction on Monday, October 15th. The stock was acquired at an average price of $9.90 per share, with a total value of $49,500.00. Following the completion of the purchase, the chief executive officer now directly owns 100,000 shares in the company, valued at $990,000. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 4.50% of the stock is owned by company insiders.

Several large investors have recently modified their holdings of CBAY. Wells Fargo & Company MN increased its position in shares of CymaBay Therapeutics by 34.7% during the first quarter. Wells Fargo & Company MN now owns 52,723 shares of the biopharmaceutical company’s stock worth $685,000 after acquiring an additional 13,577 shares during the period. Schwab Charles Investment Management Inc. increased its holdings in CymaBay Therapeutics by 63.4% during the first quarter. Schwab Charles Investment Management Inc. now owns 20,365 shares of the biopharmaceutical company’s stock valued at $265,000 after buying an additional 7,900 shares during the period. Northern Trust Corp increased its holdings in CymaBay Therapeutics by 33.7% during the first quarter. Northern Trust Corp now owns 113,849 shares of the biopharmaceutical company’s stock valued at $1,479,000 after buying an additional 28,725 shares during the period. BlackRock Inc. increased its holdings in CymaBay Therapeutics by 69.3% during the first quarter. BlackRock Inc. now owns 1,169,203 shares of the biopharmaceutical company’s stock valued at $15,187,000 after buying an additional 478,524 shares during the period. Finally, JPMorgan Chase & Co. purchased a new position in CymaBay Therapeutics during the first quarter valued at approximately $491,000. 95.69% of the stock is currently owned by institutional investors and hedge funds.

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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Analyst Recommendations for CymaBay Therapeutics (NASDAQ:CBAY)

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