Stock analysts at Evercore ISI initiated coverage on shares of CymaBay Therapeutics (NASDAQ:CBAY) in a note issued to investors on Tuesday, MarketBeat reports. The firm set an “outperform” rating on the biopharmaceutical company’s stock.

A number of other equities research analysts also recently commented on CBAY. ValuEngine upgraded shares of CymaBay Therapeutics from a “sell” rating to a “hold” rating in a report on Friday, February 2nd. HC Wainwright reiterated a “buy” rating and set a $18.00 price target (up from $12.00) on shares of CymaBay Therapeutics in a report on Wednesday, January 24th. BidaskClub upgraded shares of CymaBay Therapeutics from a “hold” rating to a “buy” rating in a report on Friday, January 26th. Leerink Swann reiterated a “buy” rating and set a $16.00 price target on shares of CymaBay Therapeutics in a report on Tuesday, November 28th. Finally, Zacks Investment Research upgraded shares of CymaBay Therapeutics from a “sell” rating to a “hold” rating in a report on Friday, January 26th. Two research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $16.56.

Shares of CymaBay Therapeutics (NASDAQ CBAY) opened at $13.46 on Tuesday. CymaBay Therapeutics has a twelve month low of $2.31 and a twelve month high of $14.15. The company has a debt-to-equity ratio of 0.04, a quick ratio of 7.39 and a current ratio of 7.39.

In related news, Director Kurt Von Emster bought 153,846 shares of the stock in a transaction that occurred on Thursday, July 19th. The stock was purchased at an average cost of $6.50 per share, for a total transaction of $999,999.00. Following the completion of the acquisition, the director now owns 90,000 shares in the company, valued at $585,000. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Over the last 90 days, insiders sold 746,730 shares of company stock valued at $8,089,910. 15.10% of the stock is owned by insiders.

A number of institutional investors have recently added to or reduced their stakes in the stock. Perceptive Advisors LLC grew its holdings in CymaBay Therapeutics by 14.2% in the fourth quarter. Perceptive Advisors LLC now owns 2,685,882 shares of the biopharmaceutical company’s stock valued at $24,710,000 after purchasing an additional 335,000 shares during the period. Farallon Capital Management LLC purchased a new stake in CymaBay Therapeutics during the fourth quarter worth approximately $10,120,000. Vanguard Group Inc. grew its stake in CymaBay Therapeutics by 20.7% during the second quarter. Vanguard Group Inc. now owns 991,633 shares of the biopharmaceutical company’s stock worth $5,712,000 after buying an additional 170,126 shares during the period. Citadel Advisors LLC grew its stake in CymaBay Therapeutics by 8.5% during the fourth quarter. Citadel Advisors LLC now owns 694,252 shares of the biopharmaceutical company’s stock worth $6,387,000 after buying an additional 54,225 shares during the period. Finally, BlackRock Inc. grew its stake in CymaBay Therapeutics by 12.6% during the fourth quarter. BlackRock Inc. now owns 690,679 shares of the biopharmaceutical company’s stock worth $6,354,000 after buying an additional 77,459 shares during the period. Hedge funds and other institutional investors own 54.80% of the company’s stock.

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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.

Analyst Recommendations for CymaBay Therapeutics (NASDAQ:CBAY)

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