CymaBay Therapeutics (NASDAQ:CBAY) Rating Increased to Strong-Buy at ValuEngine

CymaBay Therapeutics (NASDAQ:CBAY) was upgraded by investment analysts at ValuEngine from a “buy” rating to a “strong-buy” rating in a research note issued on Monday, April 1st, ValuEngine reports.

Several other brokerages have also commented on CBAY. Roth Capital reissued a “buy” rating on shares of CymaBay Therapeutics in a research report on Tuesday, February 19th. Zacks Investment Research lowered CymaBay Therapeutics from a “buy” rating to a “hold” rating in a research report on Monday, January 21st. Leerink Swann started coverage on CymaBay Therapeutics in a research report on Friday, February 22nd. They set an “outperform” rating and a $22.00 price objective for the company. Piper Jaffray Companies set a $30.00 price objective on CymaBay Therapeutics and gave the company a “buy” rating in a research report on Friday, March 1st. Finally, Oppenheimer set a $18.00 price target on CymaBay Therapeutics and gave the company a “buy” rating in a report on Sunday, December 9th. Two equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $19.38.

CymaBay Therapeutics stock traded up $0.25 on Monday, hitting $12.72. 314,231 shares of the stock traded hands, compared to its average volume of 714,305. The firm has a market capitalization of $739.81 million, a P/E ratio of -10.10 and a beta of 1.84. CymaBay Therapeutics has a 1 year low of $6.31 and a 1 year high of $15.00.

In other news, Director Carl Goldfischer sold 11,675 shares of the firm’s stock in a transaction on Thursday, February 7th. The stock was sold at an average price of $9.02, for a total transaction of $105,308.50. Following the completion of the transaction, the director now directly owns 2,335 shares in the company, valued at $21,061.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 4.50% of the stock is owned by company insiders.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Fosun International Ltd increased its holdings in CymaBay Therapeutics by 70.8% in the 4th quarter. Fosun International Ltd now owns 792,096 shares of the biopharmaceutical company’s stock worth $6,199,000 after buying an additional 328,289 shares in the last quarter. Nexthera Capital LP boosted its position in CymaBay Therapeutics by 9.7% in the third quarter. Nexthera Capital LP now owns 908,664 shares of the biopharmaceutical company’s stock worth $10,068,000 after purchasing an additional 80,009 shares during the last quarter. Redmile Group LLC boosted its position in CymaBay Therapeutics by 1.2% in the third quarter. Redmile Group LLC now owns 2,993,565 shares of the biopharmaceutical company’s stock worth $33,169,000 after purchasing an additional 35,800 shares during the last quarter. GSA Capital Partners LLP purchased a new position in CymaBay Therapeutics in the third quarter worth about $693,000. Finally, MetLife Investment Advisors LLC boosted its position in CymaBay Therapeutics by 55.2% in the third quarter. MetLife Investment Advisors LLC now owns 43,720 shares of the biopharmaceutical company’s stock worth $484,000 after purchasing an additional 15,542 shares during the last quarter. Institutional investors own 98.00% of the company’s stock.

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.

Read More: What is a Fiduciary?

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for CymaBay Therapeutics (NASDAQ:CBAY)

Receive News & Ratings for CymaBay Therapeutics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CymaBay Therapeutics and related companies with MarketBeat.com's FREE daily email newsletter.