StockNews.com Begins Coverage on CymaBay Therapeutics (NASDAQ:CBAY)

StockNews.com initiated coverage on shares of CymaBay Therapeutics (NASDAQ:CBAY – Get Rating) in a research report released on Thursday. The brokerage issued a hold rating on the biopharmaceutical company’s stock.

CBAY has been the topic of several other reports. BTIG Research started coverage on shares of CymaBay Therapeutics in a research note on Thursday, March 9th. They set a buy rating and a $15.00 target price on the stock. Piper Sandler upped their price target on shares of CymaBay Therapeutics from $12.00 to $19.00 and gave the stock an overweight rating in a research report on Sunday, January 29th. Oppenheimer upped their price target on shares of CymaBay Therapeutics from $10.00 to $12.00 and gave the stock an outperform rating in a research report on Tuesday, March 7th. Cantor Fitzgerald upped their price target on shares of CymaBay Therapeutics from $10.00 to $13.00 and gave the stock an overweight rating in a research report on Tuesday, January 31st. Finally, SVB Leerink increased their price objective on shares of CymaBay Therapeutics from $10.00 to $12.00 and gave the company an outperform rating in a report on Wednesday, February 8th. One investment analyst has rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of Buy and an average price target of $13.50.

CymaBay Therapeutics Price Performance

Shares of CBAY stock opened at $9.59 on Thursday. The business’s fifty day simple moving average is $7.97 and its 200-day simple moving average is $5.32. The company has a quick ratio of 12.20, a current ratio of 12.20 and a debt-to-equity ratio of 1.43. CymaBay Therapeutics has a 12-month low of $1.67 and a 12-month high of $10.05.

CymaBay Therapeutics (NASDAQ:CBAY – Get Rating) last posted its quarterly earnings results on Thursday, March 16th. The biopharmaceutical company reported ($0.30) EPS for the quarter, meeting the consensus estimate of ($0.30). During the same quarter in the previous year, the business earned ($0.34) earnings per share. As a group, analysts expect that CymaBay Therapeutics will post -0.94 earnings per share for the current year.

Hedge Funds Weigh In On CymaBay Therapeutics

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Strategic Blueprint LLC purchased a new position in CymaBay Therapeutics in the 3rd quarter valued at approximately $64,000. DAFNA Capital Management LLC lifted its position in shares of CymaBay Therapeutics by 5.6% during the 2nd quarter. DAFNA Capital Management LLC now owns 1,787,569 shares of the biopharmaceutical company’s stock worth $5,273,000 after purchasing an additional 95,000 shares during the last quarter. Bank of Montreal Can purchased a new stake in shares of CymaBay Therapeutics during the 4th quarter worth $354,000. Conning Inc. purchased a new stake in shares of CymaBay Therapeutics during the 4th quarter worth $492,000. Finally, Cubist Systematic Strategies LLC raised its stake in CymaBay Therapeutics by 223.8% during the 3rd quarter. Cubist Systematic Strategies LLC now owns 166,245 shares of the biopharmaceutical company’s stock worth $582,000 after acquiring an additional 114,911 shares in the last quarter. Hedge funds and other institutional investors own 73.54% of the company’s stock.

About CymaBay Therapeutics

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CymaBay Therapeutics, Inc engages in the provision and development of access to therapies for patients with liver and other chronic diseases with high unmet medical needs. Its products pipeline includes Seladelpar, MBX-2982, CB-0406, and CB-001. The company was founded on October 5, 1988 and is headquartered in Newark, CA.