CymaBay Therapeutics Inc. (CBAY) Now Covered by Leerink Swann
Leerink Swann started coverage on shares of CymaBay Therapeutics Inc. (NASDAQ:CBAY) in a research note issued to investors on Wednesday, MarketBeat.com reports. The brokerage issued an outperform rating and a $12.00 price objective on the biopharmaceutical company’s stock. Leerink Swann also issued estimates for CymaBay Therapeutics’ Q3 2017 earnings at ($0.18) EPS, Q4 2017 earnings at ($0.19) EPS, FY2017 earnings at ($0.85) EPS, FY2018 earnings at ($0.95) EPS and FY2019 earnings at ($1.03) EPS.
Several other equities analysts have also issued reports on the company. Zacks Investment Research lowered CymaBay Therapeutics from a hold rating to a sell rating in a research report on Tuesday, August 22nd. SunTrust Banks, Inc. assumed coverage on CymaBay Therapeutics in a research report on Friday, August 18th. They issued a buy rating and a $15.00 price target for the company. Ifs Securities lowered CymaBay Therapeutics from a strong-buy rating to an outperform rating in a research report on Friday, August 11th. BidaskClub lowered CymaBay Therapeutics from a strong-buy rating to a buy rating in a research report on Thursday, August 3rd. Finally, Piper Jaffray Companies reaffirmed an overweight rating and issued a $12.00 price target on shares of CymaBay Therapeutics in a research report on Tuesday, July 25th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have given a buy rating to the stock. The stock has a consensus rating of Buy and an average price target of $12.28.
CymaBay Therapeutics (NASDAQ:CBAY) opened at 6.69 on Wednesday. CymaBay Therapeutics has a 52-week low of $1.15 and a 52-week high of $8.29. The company’s market cap is $292.73 million. The company has a 50-day moving average of $6.72 and a 200-day moving average of $4.70.
CymaBay Therapeutics (NASDAQ:CBAY) last posted its quarterly earnings results on Thursday, August 10th. The biopharmaceutical company reported ($0.31) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.25) by $0.06. On average, equities research analysts expect that CymaBay Therapeutics will post ($0.80) earnings per share for the current fiscal year.
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In other CymaBay Therapeutics news, insider Sujal Shah acquired 10,000 shares of CymaBay Therapeutics stock in a transaction that occurred on Thursday, July 20th. The stock was bought at an average cost of $7.34 per share, for a total transaction of $73,400.00. Following the acquisition, the insider now owns 75,891 shares of the company’s stock, valued at $557,039.94. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Robert James Wills acquired 5,000 shares of CymaBay Therapeutics stock in a transaction that occurred on Tuesday, August 1st. The stock was acquired at an average price of $6.84 per share, with a total value of $34,200.00. Following the completion of the acquisition, the director now directly owns 25,200 shares in the company, valued at approximately $172,368. The disclosure for this purchase can be found here. Insiders purchased a total of 20,000 shares of company stock valued at $144,750 over the last quarter. 15.10% of the stock is owned by corporate insiders.
A number of large investors have recently added to or reduced their stakes in the company. Acadian Asset Management LLC acquired a new stake in CymaBay Therapeutics during the first quarter valued at approximately $129,000. TFS Capital LLC acquired a new stake in CymaBay Therapeutics during the first quarter valued at approximately $169,000. ClariVest Asset Management LLC acquired a new stake in CymaBay Therapeutics during the first quarter valued at approximately $105,000. Renaissance Technologies LLC increased its stake in CymaBay Therapeutics by 97.6% in the first quarter. Renaissance Technologies LLC now owns 231,949 shares of the biopharmaceutical company’s stock valued at $997,000 after buying an additional 114,549 shares during the last quarter. Finally, Boxer Capital LLC acquired a new stake in CymaBay Therapeutics during the first quarter valued at approximately $3,342,000. Institutional investors own 25.39% of the company’s stock.
About CymaBay Therapeutics
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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