CymaBay Therapeutics (CBAY) Given a $18.00 Price Target by Oppenheimer Analysts
CymaBay Therapeutics (NASDAQ:CBAY) has been given a $18.00 price objective by equities research analysts at Oppenheimer in a research report issued to clients and investors on Tuesday. The firm presently has a “buy” rating on the biopharmaceutical company’s stock. Oppenheimer’s target price suggests a potential upside of 99.78% from the stock’s previous close. Oppenheimer also issued estimates for CymaBay Therapeutics’ Q4 2018 earnings at ($0.34) EPS, FY2018 earnings at ($1.27) EPS, FY2019 earnings at ($1.35) EPS, FY2020 earnings at ($1.48) EPS and FY2021 earnings at ($0.87) EPS.
A number of other research firms have also commented on CBAY. BidaskClub upgraded CymaBay Therapeutics from a “sell” rating to a “hold” rating in a research report on Thursday, August 9th. Cantor Fitzgerald reissued a “buy” rating and issued a $16.00 price objective on shares of CymaBay Therapeutics in a research note on Thursday, August 9th. Zacks Investment Research downgraded CymaBay Therapeutics from a “hold” rating to a “sell” rating in a research note on Monday, October 15th. Finally, Piper Jaffray Companies boosted their price objective on CymaBay Therapeutics to $30.00 and gave the company an “overweight” rating in a research note on Friday, August 10th. Two investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. CymaBay Therapeutics presently has a consensus rating of “Buy” and an average target price of $21.75.
Shares of NASDAQ CBAY opened at $9.01 on Tuesday. The firm has a market capitalization of $624.11 million, a price-to-earnings ratio of -11.41 and a beta of 1.89. CymaBay Therapeutics has a fifty-two week low of $7.37 and a fifty-two week high of $15.59.
In other CymaBay Therapeutics news, CEO Sujal Shah acquired 5,000 shares of the company’s stock in a transaction dated Monday, October 15th. The shares were bought at an average cost of $9.90 per share, with a total value of $49,500.00. Following the purchase, the chief executive officer now directly owns 100,000 shares of the company’s stock, valued at $990,000. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 4.50% of the stock is owned by insiders.
Hedge funds have recently bought and sold shares of the stock. Legal & General Group Plc acquired a new position in CymaBay Therapeutics during the 2nd quarter worth approximately $134,000. LPL Financial LLC acquired a new position in CymaBay Therapeutics during the 1st quarter worth approximately $130,000. State Board of Administration of Florida Retirement System acquired a new position in CymaBay Therapeutics during the 2nd quarter worth approximately $145,000. Teacher Retirement System of Texas acquired a new position in CymaBay Therapeutics during the 2nd quarter worth approximately $151,000. Finally, PNC Financial Services Group Inc. acquired a new position in CymaBay Therapeutics during the 2nd quarter worth approximately $152,000. 95.80% of the stock is currently owned by institutional investors and hedge funds.
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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