Research analysts at B. Riley initiated coverage on shares of CymaBay Therapeutics (NASDAQ:CBAY) in a research report issued on Tuesday, February 5th, MarketBeat Ratings reports. The firm set a “hold” rating and a $9.00 price target on the biopharmaceutical company’s stock. B. Riley’s target price would indicate a potential downside of 29.08% from the company’s current price. B. Riley also issued estimates for CymaBay Therapeutics’ Q4 2018 earnings at ($0.36) EPS, FY2018 earnings at ($1.27) EPS, Q1 2019 earnings at ($0.41) EPS, Q2 2019 earnings at ($0.46) EPS, Q3 2019 earnings at ($0.51) EPS, Q4 2019 earnings at ($0.56) EPS, FY2019 earnings at ($1.95) EPS, FY2020 earnings at ($2.26) EPS, FY2021 earnings at ($2.93) EPS, FY2022 earnings at ($1.76) EPS and FY2023 earnings at ($1.99) EPS.
A number of other brokerages have also issued reports on CBAY. Cantor Fitzgerald reiterated an “overweight” rating on shares of CymaBay Therapeutics in a research report on Friday, November 23rd. Zacks Investment Research raised CymaBay Therapeutics from a “sell” rating to a “hold” rating in a research report on Monday, November 19th. ValuEngine lowered CymaBay Therapeutics from a “strong-buy” rating to a “buy” rating in a research report on Thursday, January 24th. BidaskClub lowered CymaBay Therapeutics from a “hold” rating to a “sell” rating in a research report on Thursday, November 15th. Finally, Oppenheimer set a $18.00 target price on CymaBay Therapeutics and gave the stock a “buy” rating in a research report on Tuesday, November 13th. Two analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. CymaBay Therapeutics presently has an average rating of “Buy” and a consensus price target of $19.11.
Shares of NASDAQ CBAY traded up $0.88 during trading on Tuesday, reaching $12.69. The stock had a trading volume of 1,075,952 shares, compared to its average volume of 700,981. CymaBay Therapeutics has a one year low of $6.31 and a one year high of $15.59. The company has a market capitalization of $674.04 million, a price-to-earnings ratio of -10.07 and a beta of 1.72.
In related news, Director Kurt Von Emster sold 142,381 shares of the business’s stock in a transaction that occurred on Tuesday, December 18th. The stock was sold at an average price of $7.89, for a total value of $1,123,386.09. Following the completion of the sale, the director now directly owns 90,000 shares in the company, valued at $710,100. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Carl Goldfischer sold 11,675 shares of the stock in a transaction on Thursday, February 7th. The shares were sold at an average price of $9.02, for a total value of $105,308.50. Following the completion of the sale, the director now owns 2,335 shares of the company’s stock, valued at $21,061.70. The disclosure for this sale can be found here. 4.50% of the stock is owned by company insiders.
Several hedge funds have recently added to or reduced their stakes in CBAY. Schwab Charles Investment Management Inc. lifted its position in CymaBay Therapeutics by 539.2% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 130,165 shares of the biopharmaceutical company’s stock valued at $1,747,000 after acquiring an additional 109,800 shares in the last quarter. BlackRock Inc. increased its stake in CymaBay Therapeutics by 246.8% in the 2nd quarter. BlackRock Inc. now owns 4,054,285 shares of the biopharmaceutical company’s stock valued at $54,410,000 after buying an additional 2,885,082 shares during the last quarter. Legal & General Group Plc purchased a new stake in CymaBay Therapeutics in the 2nd quarter valued at about $134,000. Northern Trust Corp increased its stake in shares of CymaBay Therapeutics by 496.6% during the 2nd quarter. Northern Trust Corp now owns 679,176 shares of the biopharmaceutical company’s stock worth $9,115,000 after purchasing an additional 565,327 shares during the last quarter. Finally, Alps Advisors Inc. increased its stake in shares of CymaBay Therapeutics by 22.5% during the 3rd quarter. Alps Advisors Inc. now owns 104,500 shares of the biopharmaceutical company’s stock worth $1,158,000 after purchasing an additional 19,213 shares during the last quarter. 96.59% of the stock is currently owned by institutional investors.
About CymaBay Therapeutics
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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