BidaskClub cut shares of CymaBay Therapeutics Inc. (NASDAQ:CBAY) from a strong-buy rating to a buy rating in a report issued on Thursday morning.

Several other brokerages also recently commented on CBAY. Piper Jaffray Companies reissued an overweight rating and issued a $12.00 target price on shares of CymaBay Therapeutics in a report on Tuesday, July 25th. Oppenheimer Holdings, Inc. boosted their target price on CymaBay Therapeutics from $8.00 to $15.00 and gave the stock an outperform rating in a report on Thursday, July 20th. Citigroup Inc. reissued an outperform rating and issued a $15.00 target price (up from $8.00) on shares of CymaBay Therapeutics in a report on Thursday, July 20th. Ifs Securities reissued a strong-buy rating on shares of CymaBay Therapeutics in a report on Monday, July 17th. Finally, CIBC reissued an outperform rating and issued a $15.00 target price (up from $8.00) on shares of CymaBay Therapeutics in a report on Thursday, July 20th. Two equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has an average rating of Buy and an average price target of $11.88.

Shares of CymaBay Therapeutics (NASDAQ:CBAY) traded down 0.70% during mid-day trading on Thursday, hitting $7.12. The stock had a trading volume of 497,964 shares. CymaBay Therapeutics has a one year low of $1.15 and a one year high of $8.29. The stock’s market cap is $204.71 million. The firm has a 50 day moving average of $6.05 and a 200 day moving average of $4.13.

CymaBay Therapeutics (NASDAQ:CBAY) last released its quarterly earnings data on Thursday, May 11th. The biopharmaceutical company reported ($0.20) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.27) by $0.07. The company had revenue of $4.79 million for the quarter. On average, analysts forecast that CymaBay Therapeutics will post ($0.75) earnings per share for the current year.

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In related news, insider Sujal Shah acquired 10,000 shares of the company’s stock in a transaction that occurred on Thursday, July 20th. The stock was purchased at an average price of $7.34 per share, for a total transaction of $73,400.00. Following the transaction, the insider now directly owns 75,891 shares of the company’s stock, valued at approximately $557,039.94. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Charles Mcwherter acquired 5,000 shares of the company’s stock in a transaction that occurred on Thursday, July 20th. The stock was bought at an average price of $7.43 per share, with a total value of $37,150.00. Following the transaction, the senior vice president now directly owns 5,100 shares in the company, valued at $37,893. The disclosure for this purchase can be found here. Insiders purchased a total of 20,000 shares of company stock valued at $144,750 in the last 90 days. 15.10% of the stock is currently owned by corporate insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of CBAY. Marshall Wace North America L.P. bought a new position in CymaBay Therapeutics during the second quarter valued at $242,000. Bank of New York Mellon Corp boosted its position in CymaBay Therapeutics by 0.8% in the second quarter. Bank of New York Mellon Corp now owns 17,344 shares of the biopharmaceutical company’s stock valued at $100,000 after buying an additional 140 shares during the period. LVM Capital Management Ltd. MI boosted its position in CymaBay Therapeutics by 100.0% in the second quarter. LVM Capital Management Ltd. MI now owns 20,000 shares of the biopharmaceutical company’s stock valued at $115,000 after buying an additional 10,000 shares during the period. Boxer Capital LLC bought a new position in CymaBay Therapeutics during the first quarter valued at $3,342,000. Finally, Renaissance Technologies LLC boosted its position in CymaBay Therapeutics by 97.6% in the first quarter. Renaissance Technologies LLC now owns 231,949 shares of the biopharmaceutical company’s stock valued at $997,000 after buying an additional 114,549 shares during the period. Hedge funds and other institutional investors own 36.80% of the company’s stock.

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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