Brokers Issue Forecasts for CymaBay Therapeutics Inc.’s FY2017 Earnings (CBAY)
CymaBay Therapeutics Inc. (NASDAQ:CBAY) – Equities researchers at Cantor Fitzgerald issued their FY2017 EPS estimates for CymaBay Therapeutics in a research note issued on Tuesday. Cantor Fitzgerald analyst W. Tanner forecasts that the biopharmaceutical company will earn ($0.93) per share for the year. Cantor Fitzgerald currently has a “Overweight” rating and a $16.00 target price on the stock. Cantor Fitzgerald also issued estimates for CymaBay Therapeutics’ FY2018 earnings at ($0.95) EPS.
CymaBay Therapeutics (NASDAQ:CBAY) last released its quarterly earnings results on Thursday, August 10th. The biopharmaceutical company reported ($0.31) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.25) by ($0.06).
Several other analysts also recently issued reports on the company. Ifs Securities reissued a “strong-buy” rating on shares of CymaBay Therapeutics in a research note on Monday, July 17th. Citigroup Inc. reaffirmed an “outperform” rating and issued a $15.00 target price (up previously from $8.00) on shares of CymaBay Therapeutics in a research report on Thursday, July 20th. Oppenheimer Holdings, Inc. lifted their target price on CymaBay Therapeutics from $8.00 to $15.00 and gave the company an “outperform” rating in a research report on Thursday, July 20th. Zacks Investment Research downgraded CymaBay Therapeutics from a “hold” rating to a “sell” rating in a research report on Tuesday, August 22nd. Finally, ValuEngine raised CymaBay Therapeutics from a “sell” rating to a “hold” rating in a research report on Friday, June 2nd. Two analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $12.69.
Shares of CymaBay Therapeutics (CBAY) opened at 7.47 on Friday. CymaBay Therapeutics has a 1-year low of $1.15 and a 1-year high of $8.29. The stock’s 50 day moving average price is $6.59 and its 200 day moving average price is $5.15. The company’s market cap is $326.86 million.
In other CymaBay Therapeutics news, SVP Charles Mcwherter purchased 5,000 shares of the stock in a transaction on Thursday, July 20th. The shares were purchased at an average price of $7.43 per share, with a total value of $37,150.00. Following the completion of the transaction, the senior vice president now directly owns 5,100 shares in the company, valued at $37,893. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Sujal Shah purchased 10,000 shares of the stock in a transaction on Thursday, July 20th. The shares were acquired at an average cost of $7.34 per share, for a total transaction of $73,400.00. Following the transaction, the insider now owns 75,891 shares of the company’s stock, valued at $557,039.94. The disclosure for this purchase can be found here. In the last three months, insiders have acquired 20,000 shares of company stock worth $144,750. Company insiders own 15.10% of the company’s stock.
A number of hedge funds and other institutional investors have recently made changes to their positions in CBAY. Bank of New York Mellon Corp increased its position in CymaBay Therapeutics by 0.8% during the second quarter. Bank of New York Mellon Corp now owns 17,344 shares of the biopharmaceutical company’s stock worth $100,000 after buying an additional 140 shares during the last quarter. ClariVest Asset Management LLC acquired a new position in CymaBay Therapeutics during the first quarter worth approximately $105,000. LVM Capital Management Ltd. MI increased its position in CymaBay Therapeutics by 100.0% during the second quarter. LVM Capital Management Ltd. MI now owns 20,000 shares of the biopharmaceutical company’s stock worth $115,000 after buying an additional 10,000 shares during the last quarter. Acadian Asset Management LLC acquired a new position in CymaBay Therapeutics during the first quarter worth approximately $129,000. Finally, TFS Capital LLC acquired a new position in CymaBay Therapeutics during the first quarter worth approximately $169,000. 25.80% of the stock is currently owned by hedge funds and other institutional investors.
About CymaBay Therapeutics
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.
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