CymaBay Therapeutics Inc. (CBAY) Receives $14.00 Average PT from Brokerages
Shares of CymaBay Therapeutics Inc. (NASDAQ:CBAY) have received a consensus recommendation of “Buy” from the twelve analysts that are presently covering the company, Marketbeat reports. Two analysts have rated the stock with a hold recommendation and ten have given a buy recommendation to the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $14.00.
CBAY has been the subject of several research reports. BidaskClub downgraded shares of CymaBay Therapeutics from a “strong-buy” rating to a “buy” rating in a research report on Thursday, August 3rd. Piper Jaffray Companies set a $7.00 price objective on shares of CymaBay Therapeutics and gave the stock a “buy” rating in a research report on Monday, July 17th. HC Wainwright increased their price objective on shares of CymaBay Therapeutics from $7.00 to $12.00 and gave the stock a “buy” rating in a research report on Monday, July 17th. SunTrust Banks, Inc. initiated coverage on shares of CymaBay Therapeutics in a research report on Friday, August 18th. They set a “buy” rating and a $15.00 price objective for the company. Finally, Cantor Fitzgerald reissued a “buy” rating and set a $16.00 price objective on shares of CymaBay Therapeutics in a research report on Tuesday, September 26th.
In other news, Director Kurt Von Emster sold 108,876 shares of CymaBay Therapeutics stock in a transaction dated Tuesday, October 3rd. The shares were sold at an average price of $7.85, for a total value of $854,676.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Robert James Wills acquired 5,000 shares of the firm’s stock in a transaction dated Tuesday, August 1st. The stock was purchased at an average cost of $6.84 per share, with a total value of $34,200.00. Following the transaction, the director now owns 25,200 shares in the company, valued at $172,368. The disclosure for this purchase can be found here. In the last three months, insiders bought 20,000 shares of company stock valued at $144,750. Insiders own 15.10% of the company’s stock.
Several institutional investors and hedge funds have recently made changes to their positions in CBAY. Bank of New York Mellon Corp grew its position in shares of CymaBay Therapeutics by 0.8% in the 2nd quarter. Bank of New York Mellon Corp now owns 17,344 shares of the biopharmaceutical company’s stock valued at $100,000 after acquiring an additional 140 shares during the period. ClariVest Asset Management LLC acquired a new stake in shares of CymaBay Therapeutics during the 1st quarter worth about $105,000. LVM Capital Management Ltd. MI lifted its stake in shares of CymaBay Therapeutics by 100.0% during the 2nd quarter. LVM Capital Management Ltd. MI now owns 20,000 shares of the biopharmaceutical company’s stock worth $115,000 after buying an additional 10,000 shares during the last quarter. Marshall Wace North America L.P. acquired a new stake in shares of CymaBay Therapeutics during the 2nd quarter worth about $242,000. Finally, Ardsley Advisory Partners lifted its stake in shares of CymaBay Therapeutics by 66.2% during the 2nd quarter. Ardsley Advisory Partners now owns 50,210 shares of the biopharmaceutical company’s stock worth $290,000 after buying an additional 20,000 shares during the last quarter. 25.91% of the stock is owned by institutional investors.
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CymaBay Therapeutics (NASDAQ:CBAY) traded up 1.2735% during trading on Tuesday, reaching $8.1829. 1,061,179 shares of the company’s stock traded hands. CymaBay Therapeutics has a 12 month low of $1.15 and a 12 month high of $8.61. The company’s market cap is $358.05 million. The firm’s 50 day moving average is $6.94 and its 200 day moving average is $5.47.
CymaBay Therapeutics (NASDAQ:CBAY) last issued its quarterly earnings data on Thursday, August 10th. The biopharmaceutical company reported ($0.31) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.25) by ($0.06). Analysts anticipate that CymaBay Therapeutics will post ($0.82) EPS for the current year.
CymaBay Therapeutics Company Profile
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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