CymaBay Therapeutics Inc Expected to Earn FY2019 Earnings of ($1.13) Per Share (CBAY)
CymaBay Therapeutics Inc (NASDAQ:CBAY) – Analysts at Leerink Swann dropped their FY2019 earnings estimates for CymaBay Therapeutics in a report issued on Tuesday. Leerink Swann analyst J. Schwartz now expects that the biopharmaceutical company will earn ($1.13) per share for the year, down from their prior forecast of ($1.06). Leerink Swann has a “Buy” rating and a $16.00 price target on the stock.
CymaBay Therapeutics (NASDAQ:CBAY) last announced 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 period in the prior year, the company posted ($0.25) earnings per share.
A number of other equities research analysts have also recently weighed in on CBAY. HC Wainwright reaffirmed a “buy” rating and set a $12.00 price target on shares of CymaBay Therapeutics in a report on Tuesday. Cantor Fitzgerald reaffirmed a “buy” rating and set a $16.00 price target on shares of CymaBay Therapeutics in a report on Wednesday, November 8th. Oppenheimer set a $15.00 price target on CymaBay Therapeutics and gave the company a “buy” rating in a report on Monday, October 30th. Piper Jaffray Companies reaffirmed a “buy” rating and set a $12.00 price target on shares of CymaBay Therapeutics in a report on Friday, October 27th. Finally, SunTrust Banks started coverage on CymaBay Therapeutics in a report on Friday, August 18th. They set a “buy” rating and a $15.00 price target for the company. Two equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $14.50.
CymaBay Therapeutics (NASDAQ CBAY) opened at $8.71 on Thursday. The company has a debt-to-equity ratio of 0.04, a quick ratio of 7.39 and a current ratio of 7.39. CymaBay Therapeutics has a 52-week low of $1.46 and a 52-week high of $9.40.
In related news, Director Kurt Von Emster sold 50,048 shares of CymaBay Therapeutics stock in a transaction on Friday, November 10th. The stock was sold at an average price of $9.26, for a total transaction of $463,444.48. Following the completion of the sale, the director now directly owns 90,000 shares of the company’s stock, valued at $833,400. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, SVP Charles Mcwherter acquired 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, November 2nd. The shares were bought at an average cost of $8.67 per share, with a total value of $43,350.00. Following the completion of the purchase, the senior vice president now owns 10,300 shares of the company’s stock, valued at $89,301. The disclosure for this purchase can be found here. Insiders sold a total of 447,257 shares of company stock valued at $3,730,862 over the last three months. Insiders own 15.10% of the company’s stock.
Several institutional investors have recently made changes to their positions in the stock. Bank of New York Mellon Corp lifted its holdings 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. Marshall Wace North America L.P. bought a new position in CymaBay Therapeutics during the second quarter worth about $242,000. Ardsley Advisory Partners lifted its holdings 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. Boothbay Fund Management LLC bought a new position in CymaBay Therapeutics during the third quarter worth about $404,000. Finally, Crestline Management LP bought a new position in CymaBay Therapeutics during the third quarter worth about $841,000. 68.77% of the stock is 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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