CymaBay Therapeutics Inc (CBAY) Receives $21.88 Consensus Price Target from Brokerages

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CymaBay Therapeutics Inc (NASDAQ:CBAY) has been given an average recommendation of “Buy” by the twelve brokerages that are covering the firm, Marketbeat Ratings reports. Two research analysts have rated the stock with a hold recommendation, nine have given a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $21.75.

Several research firms have recently commented on CBAY. BidaskClub downgraded CymaBay Therapeutics from a “hold” rating to a “sell” rating in a report on Tuesday, July 31st. Piper Jaffray Companies raised their price target on CymaBay Therapeutics to $30.00 and gave the company an “overweight” rating in a report on Friday, August 10th. Cantor Fitzgerald set a $17.00 price target on CymaBay Therapeutics and gave the company a “buy” rating in a report on Wednesday. Zacks Investment Research raised CymaBay Therapeutics from a “sell” rating to a “hold” rating in a report on Monday, November 5th. Finally, Oppenheimer set a $18.00 price target on CymaBay Therapeutics and gave the company a “buy” rating in a report on Wednesday.

NASDAQ CBAY opened at $11.56 on Wednesday. The company has a market capitalization of $693.66 million, a PE ratio of -14.63 and a beta of 1.89. CymaBay Therapeutics has a 12 month low of $7.63 and a 12 month high of $15.59.

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

In other CymaBay Therapeutics news, VP Daniel Menold sold 5,000 shares of the firm’s stock in a transaction on Wednesday, August 29th. The stock was sold at an average price of $13.00, for a total transaction of $65,000.00. Following the completion of the sale, the vice president now owns 5,000 shares of the company’s stock, valued at approximately $65,000. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 4.50% of the company’s stock.

Hedge funds have recently bought and sold shares of the business. BlackRock Inc. increased its position in CymaBay Therapeutics by 69.3% during the 1st quarter. BlackRock Inc. now owns 1,169,203 shares of the biopharmaceutical company’s stock worth $15,187,000 after buying an additional 478,524 shares during the period. Swiss National Bank bought a new position in CymaBay Therapeutics during the 2nd quarter worth $1,298,000. Altshuler Shaham Ltd increased its position in CymaBay Therapeutics by 45.7% during the 2nd quarter. Altshuler Shaham Ltd now owns 88,007 shares of the biopharmaceutical company’s stock worth $1,181,000 after buying an additional 27,600 shares during the period. Voya Investment Management LLC bought a new position in CymaBay Therapeutics during the 2nd quarter worth $12,667,000. Finally, Northern Trust Corp increased its position in CymaBay Therapeutics by 33.7% during the 1st quarter. Northern Trust Corp now owns 113,849 shares of the biopharmaceutical company’s stock worth $1,479,000 after buying an additional 28,725 shares during the period. Hedge funds and other institutional investors own 95.69% of the company’s stock.

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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