CymaBay Therapeutics (NASDAQ:CBAY) has been given a $18.00 price objective by equities researchers at Oppenheimer in a research note issued on Monday. The firm currently has a “buy” rating on the biopharmaceutical company’s stock. Oppenheimer’s target price would suggest a potential upside of 29.96% from the stock’s previous close.

CBAY has been the subject of a number of other research reports. HC Wainwright reaffirmed a “buy” rating and issued a $18.00 price objective (up previously from $12.00) on shares of CymaBay Therapeutics in a research report on Wednesday, January 24th. Leerink Swann reaffirmed a “buy” rating and issued a $16.00 price objective on shares of CymaBay Therapeutics in a research report on Tuesday, November 28th. Zacks Investment Research raised CymaBay Therapeutics from a “sell” rating to a “hold” rating in a research report on Friday, January 26th. ValuEngine raised CymaBay Therapeutics from a “sell” rating to a “hold” rating in a research report on Friday, February 2nd. Finally, BidaskClub upgraded CymaBay Therapeutics from a “buy” rating to a “strong-buy” rating in a report on Wednesday, February 21st. Two investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $16.89.

How to Become a New Pot Stock Millionaire

Shares of CymaBay Therapeutics (NASDAQ:CBAY) opened at $13.85 on Monday. The company has a market capitalization of $717.22, a price-to-earnings ratio of -13.71 and a beta of 1.66. 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 has a 1 year low of $3.16 and a 1 year high of $15.59.

In other news, Director Kurt Von Emster bought 153,846 shares of CymaBay Therapeutics stock in a transaction that occurred on Thursday, July 19th. The shares were purchased at an average price of $6.50 per share, for a total transaction of $999,999.00. Following the completion of the acquisition, the director now owns 90,000 shares of the company’s stock, valued at $585,000. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders sold 978,140 shares of company stock worth $11,761,941 in the last quarter. 15.10% of the stock is owned by insiders.

A number of institutional investors have recently modified their holdings of the stock. Perceptive Advisors LLC boosted its holdings in CymaBay Therapeutics by 14.2% in the fourth quarter. Perceptive Advisors LLC now owns 2,685,882 shares of the biopharmaceutical company’s stock valued at $24,710,000 after acquiring an additional 335,000 shares during the last quarter. Redmile Group LLC boosted its holdings in CymaBay Therapeutics by 21.6% in the fourth quarter. Redmile Group LLC now owns 2,002,265 shares of the biopharmaceutical company’s stock valued at $18,421,000 after acquiring an additional 355,165 shares during the last quarter. Farallon Capital Management LLC acquired a new position in CymaBay Therapeutics in the fourth quarter valued at $10,120,000. Vanguard Group Inc. lifted its stake in shares of CymaBay Therapeutics by 20.7% during the second quarter. Vanguard Group Inc. now owns 991,633 shares of the biopharmaceutical company’s stock worth $5,712,000 after purchasing an additional 170,126 shares in the last quarter. Finally, Citadel Advisors LLC lifted its stake in shares of CymaBay Therapeutics by 8.5% during the fourth quarter. Citadel Advisors LLC now owns 694,252 shares of the biopharmaceutical company’s stock worth $6,387,000 after purchasing an additional 54,225 shares in the last quarter. Hedge funds and other institutional investors own 61.36% of the company’s stock.

ILLEGAL ACTIVITY WARNING: This news story was published by Daily Political and is the sole property of of Daily Political. If you are accessing this news story on another domain, it was stolen and reposted in violation of United States & international trademark and copyright law. The original version of this news story can be viewed at https://www.dailypolitical.com/2018/03/14/oppenheimer-analysts-give-cymabay-therapeutics-cbay-a-18-00-price-target.html.

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.

Analyst Recommendations for CymaBay Therapeutics (NASDAQ:CBAY)

Receive News & Ratings for CymaBay Therapeutics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CymaBay Therapeutics and related companies with MarketBeat.com's FREE daily email newsletter.