Piper Jaffray Companies Weighs in on CymaBay Therapeutics Inc’s Q3 2019 Earnings (CBAY)

CymaBay Therapeutics Inc (NASDAQ:CBAY) – Equities researchers at Piper Jaffray Companies upped their Q3 2019 earnings per share estimates for CymaBay Therapeutics in a note issued to investors on Wednesday, May 8th. Piper Jaffray Companies analyst E. Tenthoff now expects that the biopharmaceutical company will post earnings per share of ($0.35) for the quarter, up from their prior forecast of ($0.40). Piper Jaffray Companies has a “Buy” rating and a $30.00 price objective on the stock. Piper Jaffray Companies also issued estimates for CymaBay Therapeutics’ Q4 2019 earnings at ($0.38) EPS, FY2019 earnings at ($1.45) EPS, Q3 2020 earnings at ($0.55) EPS, FY2020 earnings at ($2.05) EPS and FY2021 earnings at ($1.35) EPS.

CBAY has been the subject of several other research reports. Zacks Investment Research raised CymaBay Therapeutics from a “sell” rating to a “hold” rating in a research note on Friday, March 1st. Leerink Swann started coverage on CymaBay Therapeutics in a research note on Friday, February 22nd. They issued an “outperform” rating and a $22.00 price target for the company. Oppenheimer set a $18.00 price target on CymaBay Therapeutics and gave the company a “buy” rating in a research note on Friday, February 15th. ValuEngine cut CymaBay Therapeutics from a “strong-buy” rating to a “buy” rating in a research note on Thursday, April 11th. Finally, BidaskClub cut CymaBay Therapeutics from a “strong-buy” rating to a “buy” rating in a research note on Thursday, April 11th. One investment analyst has rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $19.38.

Shares of NASDAQ CBAY opened at $13.00 on Monday. The company has a market capitalization of $884.78 million, a P/E ratio of -10.32 and a beta of 1.77. CymaBay Therapeutics has a 52 week low of $6.31 and a 52 week high of $15.00. The company has a debt-to-equity ratio of 0.01, a current ratio of 18.66 and a quick ratio of 12.60.

CymaBay Therapeutics (NASDAQ:CBAY) last announced its quarterly earnings results on Wednesday, May 8th. The biopharmaceutical company reported ($0.37) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.34) by ($0.03).

Institutional investors have recently made changes to their positions in the business. Advisor Group Inc. boosted its position in CymaBay Therapeutics by 281.9% during the first quarter. Advisor Group Inc. now owns 2,601 shares of the biopharmaceutical company’s stock worth $35,000 after purchasing an additional 1,920 shares during the period. Meeder Asset Management Inc. boosted its position in CymaBay Therapeutics by 307.3% during the first quarter. Meeder Asset Management Inc. now owns 2,839 shares of the biopharmaceutical company’s stock worth $38,000 after purchasing an additional 2,142 shares during the period. Pearl River Capital LLC bought a new stake in CymaBay Therapeutics during the fourth quarter worth approximately $74,000. D. E. Shaw & Co. Inc. bought a new stake in CymaBay Therapeutics during the fourth quarter worth approximately $82,000. Finally, BNP Paribas Arbitrage SA bought a new stake in CymaBay Therapeutics during the first quarter worth approximately $165,000. 84.97% of the stock is owned by hedge funds and other institutional investors.

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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Earnings History and Estimates for CymaBay Therapeutics (NASDAQ:CBAY)

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