Leerink Swann Reiterates “Buy” Rating for CymaBay Therapeutics (CBAY)
CymaBay Therapeutics (NASDAQ:CBAY)‘s stock had its “buy” rating reiterated by equities research analysts at Leerink Swann in a research note issued to investors on Tuesday. They currently have a $16.00 price objective on the biopharmaceutical company’s stock. Leerink Swann’s target price indicates a potential upside of 89.57% from the stock’s current price.
CBAY has been the topic of a number of other reports. BidaskClub lowered shares of CymaBay Therapeutics from a “strong-buy” rating to a “buy” rating in a research note on Thursday, August 3rd. Oppenheimer set a $15.00 price objective on shares of CymaBay Therapeutics and gave the company a “buy” rating in a research note on Monday, October 30th. Cantor Fitzgerald reaffirmed a “buy” rating and issued a $16.00 price objective on shares of CymaBay Therapeutics in a research note on Tuesday, September 26th. Zacks Investment Research lowered shares of CymaBay Therapeutics from a “hold” rating to a “sell” rating in a research note on Tuesday, August 22nd. Finally, Piper Jaffray Companies reaffirmed a “buy” rating and issued a $12.00 price objective on shares of CymaBay Therapeutics in a research note on Friday, October 27th. Two investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $14.50.
Shares of CymaBay Therapeutics (CBAY) opened at $8.44 on Tuesday. CymaBay Therapeutics has a 1-year low of $1.46 and a 1-year high of $9.40. The company has a debt-to-equity ratio of 0.04, a current ratio of 7.39 and a quick ratio of 7.39.
CymaBay Therapeutics (NASDAQ:CBAY) last posted its quarterly earnings data on Wednesday, November 8th. The biopharmaceutical company reported ($0.21) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.19) by ($0.02). During the same quarter in the prior year, the company earned ($0.25) EPS. analysts expect that CymaBay Therapeutics will post -0.84 earnings per share for the current year.
In related news, Director Carl Goldfischer sold 18,000 shares of the stock in a transaction on Thursday, November 2nd. The shares were sold at an average price of $8.66, for a total transaction of $155,880.00. Following the transaction, the director now directly owns 9,000 shares of the company’s stock, valued at $77,940. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Kurt Von Emster sold 108,876 shares of the stock in a transaction on Tuesday, October 3rd. The stock was sold at an average price of $7.85, for a total transaction of $854,676.60. The disclosure for this sale can be found here. Over the last three months, insiders have sold 447,257 shares of company stock worth $3,730,862. 15.10% of the stock is owned by insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Bank of New York Mellon Corp boosted its stake 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 acquiring an additional 140 shares in the last quarter. Ardsley Advisory Partners boosted its stake in CymaBay Therapeutics by 66.2% during the second quarter. Ardsley Advisory Partners now owns 50,210 shares of the biopharmaceutical company’s stock worth $290,000 after acquiring an additional 20,000 shares in the last quarter. Marshall Wace North America L.P. bought a new position in CymaBay Therapeutics during the second quarter worth $242,000. Boothbay Fund Management LLC bought a new position in CymaBay Therapeutics during the third quarter worth $404,000. Finally, Crestline Management LP bought a new position in CymaBay Therapeutics during the third quarter worth $841,000. 68.77% of the stock is currently owned by institutional investors and hedge funds.
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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.
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